Guizhou will establish Southwestern Energy Group to invest in bauxite and other deep processing

Guizhou Province plans to establish Southwestern Energy Group Co., Ltd. as an important platform for the investment and financing of mineral resources and an important entity for resource integration, and to enlarge and strengthen the Guizhou mining economy.

The reporter learned from the Guizhou provincial government that the Southwestern Energy and Minerals Group will be formed by five subsidiaries including Southwestern Energy Mining Co., Ltd. (parent company), Guizhou Geology and Mineral Resources Development Co., Ltd., and Guizhou Province Shale Gas Development Co., Ltd. The provincial government will allocate advantageous mineral resources to the group according to relevant regulations. Among them, Southwestern Energy Mines Co., Ltd. was initiated and set up by Guizhou Provincial State-owned Assets Supervision and Administration Commission, Guizhou Provincial Geology and Mineral Resources Bureau, and Guizhou Panjiang Investment Holdings (Group) Co., Ltd.

According to reports, the business scope of the Southwestern Energy Group includes the investment and financing of mineral resources development, investment in prospecting for exploration of mineral resources, prospecting, mining, selection, smelting and deep processing of phosphate ore and bauxite. The first phase of registered capital is 6 billion yuan, of which, paid-in capital is 1.393 billion yuan, and mining rights are estimated to be worth 4.607 billion yuan.

In addition, Guizhou Province plans to allocate 224 mining rights to Southwestern Mining Group as its second-phase registered capital. If the group is listed, the mining rights price will be paid centrally, and the provinces and provinces will be partially returned to the company and the provincial capital will be increased. The state-owned land transfer provinces and sub-provincial provinces involved in the Southwestern Energy Mine returned to the company in full and transferred provincial capital. Guizhou has rich mineral resources and 126 minerals have been discovered.