PRESS RELEASES
Latest Mineral Resource Estimate Report of Laterite Nickel Ores in Indonesia Records an Additional Nickel Ore Resources of 90.54 Million Tonnes
HONG KONG, June 27, 2013 /PRNewswire/ -- China Hanking Holdings Limited( http://www.hankingmining.com ) ("China Hanking" or the "Company" (Stock Code: 3788), and its subsidiaries, the "Group") is pleased to announce the latest mineral resource estimate report of its Laterite Nickel Ores in Indonesia. According to the mineral resource estimate report submitted by CSA Global Pty Ltd, the subsidiaries of the Company in Indonesia, PT Karyatama Konawe Utara and PT Konutara Sejati (the "Indonesian Project Companies"), recorded an additional proven, indicated and inferred nickel ore resources of 90.54 million tonnes at an average grade of 0.79% of Ni and 50.27% of TFe.
Of the additional resources, proven resources amounted to 45.15 million tonnes at an average grade of 0.75% of Ni and 51.42% of TFe, indicated resources amounted to 40.06 million tonnes at an average grade of 0.82% of Ni and 49.21% of TFe and inferred resources amounted to 5.34 million tonnes at an average grade of 0.85% of Ni and 48.53% of TFe.
Dr. Pan Guocheng, Chief Executive Officer of China Hanking commented: "Laterite nickel has a great potential for development and growth in value. Indonesia is endowed with considerable amounts of laterite nickel resources in the world and our Indonesian Project Companies cover important location points for nickel laterite deposit in Indonesia. We believe the additional resources will significantly enhance the overall asset value and profitability of the Indonesian Project Companies, enabling the Group to become a leading international resources mining enterprise and ultimately maximize shareholder's returns."
About China Hanking Holdings Limited
China Hanking is one of the biggest iron ore concentrate production enterprises in northeast China with a successful track record of over 18 years. The Group is engaged in the exploration, production, processing and sales of iron ore. Benefiting from China Hanking's competitive cost advantage, its cash operation cost is only half of the average cash operation cost of its Chinese peers. Leveraging on its renowned reputation, the Company has established an extensive customer base as well as long-term partnerships with large-scale steel manufacturers. In early 2013, the Group announced the acquisition of 100% equity interests of the laterite nickel mines at North Konawe Regency in South East Sulawesi Indonesia and the gold assets of SXO in the center of Yilgarn Goldfields in Western Australia, becoming an international mining enterprise with diversified mining resources.
Company website: www.hankingmining.com
Released by Porda Havas International Finance Communications Group for and on behalf of China Hanking Holdings Limited, for further information, please contact:
China Hanking Holdings Limited
Investor Relations
Tel: Mainland China (86)(24) 3129 8912
Hong Kong (852) 3158 0506
Porda Havas International Finance Communications Group
Investor Relations
Ms. Cindy Xin
Tel: (852) 3150 6771
Fax: (852) 3150 6728
Email: cindy.xin@pordahavas.com( mailto:cindy.xin@pordahavas.com )
Media Relations
Mr. Bunny Lee
Tel: (852) 3150 6707
Fax: (852) 3150 6728
Email: bunny.lee@pordahavas.com( mailto:bunny.lee@pordahavas.com )
SOURCE China Hanking Holdings Limited
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