Group 1 - The core theme of the forum is "Governance for a Sustainable Future" and focuses on corporate sustainable development and ESG ecosystem building [1] - Northern Mining Co., Ltd. received the "Third National Cup ESG Excellence Central Enterprise Golden Bull Award" for its innovative practices and outstanding achievements in the ESG field [1] - The award selection process emphasizes transparency and objectivity, aiming to encourage more companies to engage in sustainable development [1] Group 2 - Northern Mining has established a sustainable development governance structure that integrates project companies, enhancing its ability to respond to opportunities and challenges in sustainable development [2] - The company promotes local management and operations, implementing community development plans to create an integrated economic ecosystem around its projects [2] - Northern Mining adheres to compliance and international best practices in ESG management, ensuring effective governance [2] Group 3 - By 2025, the company aims to enhance its mineral resource supply capacity and green low-carbon transformation efficiency, while integrating international ESG governance concepts into its practices [3] - The focus will be on developing new productive capacities in mining, improving digitalization, intelligence, and green development levels [3] - The company seeks to create infinite value from limited resources, contributing to global sustainable development [3]

Core Points - The European Union (EU) is planning to establish a central institution to coordinate the procurement and storage of critical minerals in response to the United States' aggressive actions in the global mineral market [2][4] - EU officials express concerns over the slow response to the US's "America First" policy, which has exposed the EU's economic vulnerabilities [1][2] - The EU aims to enhance its economic security by integrating more protective measures into its supply chains and establishing partnerships with countries like Brazil and South Africa [4][5] Group 1: EU's Strategic Response - The EU's plan includes signing cooperation agreements with Brazil and South Africa to secure mineral supplies [4] - The EU is also considering setting price floors for critical minerals to ensure domestic availability for European companies [4] - The Critical Raw Materials Act (CRMA) will come into effect in May 2024, focusing on achieving self-sufficiency in strategic raw materials through financial support for 47 strategic projects [4][12] Group 2: US Actions and Implications - The US has been rapidly securing critical mineral supplies through various means, including the Defense Production Act and acquiring stakes in foreign mining companies [5][7] - The US's aggressive strategy has raised concerns in the EU about being left behind in the competition for essential resources [7][11] - The EU fears that US actions may undermine its strategic projects, as seen with the tungsten mining project in the UK that has attracted US investment [8][11] Group 3: Future Directions for the EU - The EU is expected to propose a more detailed critical mineral plan by the end of 2025, which will complement the CRMA [11][12] - The "RESourceEU" initiative aims to strengthen trade ties with third countries and enhance the resilience of Europe's strategic metal supply chains [11][12] - The EU is also exploring domestic mining and refining options, as well as partnerships with neighboring countries to boost its autonomy in critical minerals [12]

【大河财立方消息】据"中国矿产"微信公众号消息，11月20日，中国矿产资源集团有限公司召开领导班子（扩 大）会议。 公开信息显示，高杲出生于1969年5月，管理学博士。高杲曾长期任职于国家发展改革委，曾担任过国家发展改革 委国民经济综合司副司长、国家发展改革委经济贸易司司长、国家发展改革委副秘书长等职。 2022年，高杲调任中国矿产资源集团后，担任过董事等职，直至此次履新。 责编:李文玉 | 审核:李震 | 监审:古筝 受中央组织部领导委托，中央组织部有关干部局负责同志宣布了党中央关于中国矿产资源集团有限公司总经理任 职的决定：高杲同志任中国矿产资源集团有限公司董事、总经理、党组副书记。 ...

Group 1 - The article discusses the transfer of residents' island usage fees to the tax department for collection, aiming to enhance the management of special revenue from mineral resources [4] - A new electronic tax system has been introduced for taxpayers to report and pay special revenue from mineral resources, which is generated automatically based on data input from third-party sources or the tax authority [4] - Taxpayers are required to declare and pay the special revenue projects according to relevant regulations and rules [4] Group 2 - The electronic tax bureau provides various functionalities including non-tax revenue declaration, tax fee declaration, and financial report submission [5] - Taxpayers can log into the new electronic tax bureau to access the declaration forms and submit their applications [6] - The article mentions specific deadlines for the declaration of special revenue from mineral resources, indicating a structured timeline for compliance [6] Group 3 - E-commerce enterprises are required to provide relevant materials to the tax authority for record-keeping and must report any changes within 30 days [12] - New e-commerce enterprises can directly handle paperless export tax refund applications, categorized under three types for management purposes [12][15] - The article emphasizes that e-commerce businesses can submit export tax refund applications and related electronic data through the electronic tax bureau [13]

11月10日，据天津港集团消息，第三届矿产资源供应链可持续生态开发者大会日前在上海召开。本次大 会由中国钢铁工业协会、中国矿产资源集团联合主办，多家企业及行业分会协办，会上，矿产资源行业 可信数据创新联盟成立。天津港集团等19家企业作为联盟首批成员单位共同签约。 ...

Summary of North International's Conference Call Company Overview - **Company**: North International - **Industry**: Power Generation and Engineering, Resource Supply Chain Key Points and Arguments Financial Performance - In Q3 2025, North International reported a revenue of 9.9 billion yuan and a net profit attributable to shareholders of 485 million yuan, showing a positive trend compared to Q2 2025 with a 30% increase in net profit [3][2][4] - The overall sales volume of coking coal in the first three quarters reached 3.76 million tons, with Q3 alone contributing 1.5 million tons [7][2] Project Contributions - The Croatian project has stable electricity generation and favorable pricing, significantly contributing to profits [2][3] - The Laos Nantai power station benefited from a decrease in USD interest rates, accelerating repayments and improving profits [2][3] - The integrated mining project in Mongolia gained from a rebound in coal prices, providing a profit cushion [2][3] Market Outlook - The coking coal market experienced a downturn in H1 2025, negatively impacting performance, but prices began to rebound in Q3, leading to optimistic projections for Q4 sales [6][8] - Analysts expect coking coal prices to stabilize and recover, which would further support profits from the Mongolian project [8][6] Future Development Strategy - North International plans to focus on stable growth over the next five years, emphasizing the construction of renewable energy power stations in Central and Eastern Europe and Southeast Asia [2][5] - The company aims to enhance its power operation segment and invest in energy storage for the Croatian project [5][14] International Projects - The Bangladesh thermal power station has one unit ready for commercial operation, with another expected to complete testing by January 2026, projected to generate profits of 200 to 300 million yuan in 2026 [4][13] - The company has signed a Power Purchase Agreement (PPA) for the Bangladesh project, ensuring a defined pricing model and addressing local electricity demand [12][4] Market Expansion - North International has not yet entered the North American market due to the complexity of policies and resources compared to its traditional markets along the Belt and Road Initiative [16][14] - The company is focusing on wind, solar, and energy storage projects in its key markets, which are supported by favorable policies and abundant resources [15][14] Competitive Landscape - The overseas construction market is becoming increasingly competitive, with North International leveraging its platform model to integrate domestic resources and achieve breakthroughs in new markets [17][2] Dividend Policy - Following a significant 72% increase in dividends for 2024, North International aims for a modest increase in 2025, maintaining a stable growth approach [18][2]

Group 1 - The 2025 World Internet Conference Leading Technology Award ceremony was held in Wuzhen, Zhejiang, recognizing 17 internationally representative projects in fields such as large models, embodied intelligence, and quantum computing [1] - A total of over 400 technological achievements were collected from 34 countries and regions for the 2025 awards [1] Group 2 - The State Council approved the "Chengdu-Chongqing Economic Circle Land Space Planning (2021-2035)", aiming to maintain a cultivated land reserve of no less than 74.1758 million acres by 2035 [2] - The plan includes ecological protection measures, with a designated area of no less than 15,800 square kilometers for ecological protection red lines [2] Group 3 - Huahong reported a record high sales revenue of $635.2 million for Q3, representing a year-on-year increase of 20.7% and a quarter-on-quarter increase of 12.2% [3] - The company's profit attributable to shareholders was $25.7 million, down 42.6% year-on-year but up 223.5% quarter-on-quarter [3] - The expected sales revenue for Q4 is projected to be between $650 million and $660 million, with a gross margin estimated between 12% and 14% [3] Group 4 - The Ministry of Commerce held a roundtable meeting for foreign enterprises during the China International Import Expo, discussing recent policies to stabilize foreign investment [4] - Representatives from over 30 foreign enterprises participated, including major companies like Intel and Nissan [4] Group 5 - Douyin announced measures to further regulate financial account operations, including stricter merchant qualification standards and compliance reviews [5] - Non-compliant financial accounts will face penalties such as the revocation of financial operating rights [5] Group 6 - The National Medical Insurance Administration launched a pilot program for intelligent review of medical insurance processing, integrating AI technology into the review process [6] - The initiative aims to establish a nationwide knowledge and rules database for standardized review processes [6] Group 7 - The Mineral Resources Industry Trusted Data Innovation Alliance was officially established, focusing on building a credible data ecosystem in the mineral resources sector [8] - The alliance aims to promote high-end, intelligent, and green development in the industry [8] Group 8 - A report from the Development Research Center of the State Council indicates that China is expected to become one of the largest markets for digital transformation in manufacturing globally [9] - The report highlights that small and medium-sized manufacturing enterprises will be key players in advancing digital transformation [9] Group 9 - ASML showcased its panoramic lithography solutions at the China International Import Expo, emphasizing the growing demand driven by AI in mainstream markets [10] - The company aims to assist Chinese customers in seizing opportunities in the mainstream market [10] Group 10 - The Shanghai Stock Exchange accepted the IPO application of Shenzhen Core Medical Technology Co., marking the first acceptance under the restarted fifth set of standards for the Sci-Tech Innovation Board [11] - Core Medical has undergone multiple rounds of financing, attracting investments from several prominent venture capital firms [11]

Financial Data and Key Metrics Changes - The company reported net income of $91.7 million for Q3 2025, with adjusted EBITDA at $86.3 million, representing a 5% increase in mineral and royalty production to 34,700 BOE per day compared to the prior quarter [12][13][14] - Distributable cash flow for the quarter was $76.8 million, which represents a coverage ratio of 1.21 times for the period [13] Business Line Data and Key Metrics Changes - Mineral and royalty production increased to 34,700 BOE per day, driven by strong volumes in the Permian Basin, while total production volumes reached 36,300 BOE per day [12][13] - The company expects to drill over 50 wells annually in the expanded Shelby Trough, contributing to significant gas growth [7][10] Market Data and Key Metrics Changes - The company noted that 57% of oil and gas revenue in the quarter came from oil and condensate production [13] - The outlook for natural gas is increasingly constructive due to rising demand from LNG and power sectors, positioning the company favorably for future supply calls [14] Company Strategy and Development Direction - The company is pursuing acquisitions in the Haynesville expansion and is optimistic about the development of Revenant starting in early 2026 [7][8] - A grassroots acquisition program added $20 million in mineral and royalty acquisitions during the quarter, totaling approximately $193 million since September 2023 [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth potential anchored by development agreements in high-interest acreage and core legacy assets [14] - The company is focused on a multi-year forecast, emphasizing the importance of long-term strategies over short-term fluctuations [25] Other Important Information - The company is working on assembling additional development packages in the Shelby Trough and Western Haynesville, indicating a strong pipeline of opportunities [21][22] Q&A Session Summary Question: Update on KLX area discussions and interest in Western Haynesville - Management indicated progress in KLX area discussions, now at the half-yard line, with expectations to finalize soon. Interest in commitments following the entry into Western Haynesville remains robust [18][19] Question: Volume trends for Q4 and 2026 - Management did not update full-year guidance but expressed excitement about Aethon volumes coming online and ongoing developments in the Permian, suggesting a positive outlook for the upcoming months [23][24] Question: Natural gas differentials and hedging strategy - Management confirmed that their hedging strategy remains consistent, with a focus on maintaining good exposure to Henry Hub despite challenges at Waha [31][34]

黔矿协函〔2025〕18号 贵州省矿业协会关于邀请参加中国(贵州) 国际矿业大会暨矿业装备展览会的函 各会员单位及相关企业: 为深入学习贯彻习近平新时代中国特色社会主义思想,全 面落实党中央、国务院关于推进矿产资源的战略决策部署,加 速科技创新与产业创新深度融合,助力贵州乃至全国矿业高质 量发展,经协会研究,定于2026年4月16 - 18日在贵阳国际会 议展览中心举办"中国(贵州)国际矿业大会暨矿业装备展览 会"(以下简称"大会"）。 贵州是我国矿产资源大省,煤炭、磷矿、铝土矿、锰矿、 稀土等战略资源储量丰富。近年来,我省坚定推进新型工业化 进程,大力推动矿业向绿色化、智能化、高端化转型,成效显 著。 本次大会以"富矿富能·精开未来"为主题,既是落实国家 资源安全战略、服务找矿突破战略行动的具体实践,也是引导 矿产资源合理勘查开采、助力增储上产、推动矿业绿色转型的 重要举措。 大会将聚焦矿业全产业链发展需求,打造集产品展示、技 ly 上一篇 - 1 - 2026中国（贵州）国际矿业大会暨矿业装备展览会 大会主题： 富矿富能 • 精开未来 大会时间：2026年4月16-18日 大会地点：贵州省·贵阳国际会议展 ...

Group 1 - The "deep earth economy" is strategically significant for ensuring national energy security, with the Ministry of Natural Resources planning to accelerate the standardization of emerging industries during the 14th Five-Year Plan period [1] - Multiple provinces are incorporating the core direction of the "deep earth economy" into their respective 14th Five-Year Plans, indicating a broad regional commitment to this initiative [1] Group 2 - Sichuan province is actively implementing "deep earth economy" initiatives, focusing on the exploration and development of deep mineral resources and upgrading equipment [2] - In terms of deep earth equipment manufacturing, Sichuan plans to include deep resource exploration and detection technology in its 14th Five-Year Plan [2] - Yunnan province is supporting technological breakthroughs in the deep earth sector, encouraging collaboration between research institutions, geological exploration units, and mining enterprises for major scientific projects [2] - Inner Mongolia is developing its own 14th Five-Year mineral resource and geological survey plans, aligning with national and regional strategies [2]