Qinghai NFC Mining Development Co., Ltd. (hereinafter referred to as Qinghai NFC) was registered and established in February 2023 as a joint venture between NFC and Qinghai State-owned Assets Investment Management Co., Ltd. (hereinafter referred to as Qinghai State-owned Assets) in Xining, Qinghai Province, of which NFC holds 60% shares and Qinghai State-owned Assets holds 40% shares.

Qinghai NFC is mainly engaged in the mining and processing of non-ferrous metals, and it is responsible for the cooperative exploration and development of resource projects in Qinghai. At present, Qinghai NFC is closely tracking the exploration progress of other important resource projects in Qinghai, ensuring the energy and resource security, taking multiple measures simultaneously, and actively and orderly promoting the cooperative exploration and development of resource projects in Qinghai by stages.