Mining Business

The Mining Business mainly includes exploration and exploitation of mines and processing and sale of outputs from the mines in the PRC. Xinjiang Tianmu, the indirect subsidiary of Timeless Software Limited, holds three mining licences for gold and nickel-copper mines in Xinjiang, the PRC. Among the mines for which Xinjiang Tianmu has mining licences, one of them is the major mine of the Group, namely Baishiquan Nickel-Copper Mine. Nickel-copper ores, nickel and copper concentrates are the main products sold under the Mining Business.