Mining Business

The Mining Business mainly includes exploration and exploitation of mines and processing and sale of the outputs from the mines in the PRC. Xinjiang Tianmu, the indirect subsidiary of Timeless Software Limited, holds six exploration licences for gold and nickel-copper mines, and seven mining licences for gold and iron mines in Xinjiang, the PRC. Among the mines for which Xinjiang Tianmu has mining licences, five of them are major mines of the Group, namely Baishiquan Nickel-Copper Mine, Hongshannan Gold Mine, Heishiliang Gold Mine, Tuchushan Iron Mine and South Hami Gold Project, 

 

Nickel-copper ores and gold dores are the main products sold under the Mining Business.