We learned from Zhejiang Provincial Mineral Resources Group Co., Ltd. (hereinafter referred to as “Zhejiang Mining Group”) that the company recently made a new discovery of a large-fluorite deposit in the Maoyang mining area of Suichang County. The estimated ore reserves exceed 5.5 million tons, and the mineral resource reserves exceed 2.2 million tons, marking a significant breakthrough in Zhejiang Province’s mineral exploration initiative aimed at "deep exploration, increasing reserves, and expanding capacity."

Fluorite is a key raw material for the fluorine chemical industry and an important strategic mineral resource. It plays a crucial role in the development of strategic emerging sectors such as new-energy batteries, semiconductor etching, and 5G communication materials. Often referred to as the "vitamin of industry," fluorite is also one of Zhejiang Province's advantageous mineral resources. In recent years, Zhejiang Province has been promoting high-quality exploration efforts under the strategy of "deepening copper-gold exploration, increasing fluorite reserves, and expanding geothermal energy capacity." Through projects focused on studying fluorite ore-forming patterns and predicting hidden deposits in western, northern, and southeastern Zhejiang, the province has been actively boosting its fluorite reserves. The newly discovered ore vein measures 600 meters in length and features a single layer with a maximum thickness of 32 meters—a rare combination of thickness and scale among China’s fluorite deposits—demonstrating significant potential for further reserve growth and providing additional support for our province’s goal of becoming a leading province in resource security and allocation.

“The discovery of the new ore deposit provides stronger assurance for building a national-scale fluorite resource base and for strategically positioning Zhejiang Province as a high-end fluorochemical industry hub,” said a relevant official from the Geological Exploration Management Division of the Provincial Department of Natural Resources. Thanks to the precise implementation of the Zhejiang Provincial Department of Natural Resources’ “Deep Exploration, Reserve Enhancement, and Capacity Expansion” strategy, Zhejiang Mining Group has assembled a specialized task force, innovated its working mechanisms, and allocated tens of millions of yuan in dedicated funds. By leveraging innovative technologies such as 3D modeling and high-precision geophysical exploration, the company has achieved a significant breakthrough in mineral exploration within less than two years of its establishment. Currently, Zhejiang Mining Group is accelerating its exploration efforts and expects to complete the reserve evaluation and filing process by 2026.