Nan Nan Resources Enterprise's (HKG:1229) subsidiary Kaiyuan Co. obtained permission from the local government industry and energy competent department to increase its production capacity at the Enlarged Kaiyuan Mine in Changji Prefecture, Xinjiang, China.
Kaiyuan can now mine up to 4 million tons per annum from 900,000 tons a year from before, while its mining area remains about 4.112 square kilometers, a Friday Hong Kong bourse filing said.
The company said the increased production capacity will require further investment into equipment, machinery, and facilities, and the group only plans to operate at maximum capacity if there is sufficient market demand.
Shares of the company were down over 4% in recent trade.
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