Recently, the mining license of Fenghuang Mountain iron ore mine of Huiboling Iron Ore Company, Shandong Energy Linyi Mining Group was granted by the Ministry of Natural Resources of China. With the approval wich will be valid for 30 years, production scale would reach 4 million tons / year.
Fenghuangling iron oreproject is one of the key construction projects for Shandong Energy Group in 2020. It overcame a series of challenges such as policy restrictions, disposal of mining rights proceeds, overlapping mining rights, village collapse, and depletion of expired prospecting rights.
It is believed that the project saved nearly 70 million yuan in proceeds from the sale of mining rights, and adjusted the payment period from 3 years to 15 years, reducing the geological environmental protection and restoration fund of 5 million yuan/year, reducing the first installment of land reclamation fees by 1.5 million yuan.