China's Western Mining Co., Ltd. said its wholly owned subsidiary Qinghai Ganxin Mining Development Co., Ltd. has obtained a mining licence for the Tawenchahan iron polymetallic mine in Golmud, Qinghai province, completing the conversion from exploration to extraction.

The licence, issued by the Qinghai Department of Natural Resources, is valid from August 31, 2026 to August 30, 2043, according to a company filing dated September 22. The mine covers iron, copper, gold, molybdenum, zinc, lead and silver.

The deposit holds 36.95 million tonnes of industrial iron ore with an average grade of 30% magnetic iron, according to a 2024 exploration report. Associated metals include 4 tonnes of gold, 10,950 tonnes of copper, 1,201 tonnes of lead, 29,092 tonnes of zinc, 407 tonnes of molybdenum and 770 kilogrammes of silver.

Western Mining said the licence will strengthen its iron resource security, consolidate its iron ore business advantages and enhance overall risk resilience and market competitiveness.

The company cautioned that development and utilisation of mineral resources may be affected by natural and social factors as well as changes in mining-related laws, regulations and policies, and that production still requires further approvals, with no certainty of achieving expected extraction results.