CHINA BAOLI TEC (00164.HK): Mongolia iron ore project enters construction stage, coal project infrastructure completed and sales channels being developed
NewTimeSpace News: On 26 August 2026, China Baoli Technologies Holdings Limited (stock code: 00164) announced an update on its business progress, with the Group having made significant progress in deploying its dry grinding and dry separation business in Mongolia. In respect of the Mongolia iron ore project, following the successful provision of consulting services to the project partner, the project has entered an important development stage: the project partner has completed the procurement of core project equipment, with part of the equipment having completed customs clearance and been delivered to Mongolia, and the Company has dispatched a technical expert team to the mining site to assist with equipment installation, commissioning and operational preparation; with the completion of various logistics, administrative and technical preparations, the project has formally entered the construction stage, and the first batch of processed iron concentrate is expected to be produced soon.
In respect of the Mongolia coal project, infrastructure construction has been completed (including the mining camp, staff dormitories and other necessary supporting facilities), and recruitment of employees from mainland China and locally has commenced; procurement of processing equipment, necessary fuel and other raw materials is ongoing, although the project still requires additional resources and capital as well as corresponding operational preparation before full-scale production. The announcement stated that the coal market has recently shown a positive trend with significantly higher coal prices, and management believes that this favorable macro environment provides a timely opportunity to accelerate the development of the Mongolia coal project.
In terms of strategic initiatives, the Group has initiated discussions with a number of well-known suppliers, distributors and industry players engaged in bulk trading of mineral products, exploring potential offtake arrangements, distribution channels and long-term sales cooperation for the Group's processed coal and iron ore products, with some potential distributors having commenced due diligence on the Group; the Group aims to establish reliable offtake channels for the processed products from its Mongolia projects to secure market access and support the commercial viability of the projects. In addition to the existing Mongolia iron ore project, the Group has also commenced evaluation and assessment of potential iron ore projects in various African locations, aiming to diversify its resource base and expand its project pipeline.
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