Mineral resources development process consists of project proposal, survey and study, resources evaluation, cooperative negotiation, signing a letter of intent or contract, investment and construction, project acceptance, and project post-evaluation.

1. Project proposal
When a project proposal report is submitted, and then checked by division chief, next, reviewed by specialists, and finally approved by executive manager, the project is said to be approved.

2. Survey and study
The content of survey and study covers authenticity of resources, investment environment, development conditions, ownership of mining right, possibility of cooperation, local policies for mineral resources development, etc.
Generally, survey and study is carried out in two stages, i.e. technical stage and comprehensive stage. After field survey and study finishes, each professional shall prepare and submit his report without others¡¯ presence. After a joint checkup by the division, they will be submitted to executive manager and board of directors for approval.

3. Project cooperation
(1) Project evaluation
After consented by the company, the Resource Department will organize an internal evaluation (focus on economic part), and prepare an evaluation report. After the report is approved by executive manager, revaluation will be entrusted to an independent agency.
(2) Cooperative negotiation
The Resource Department confers with partner on the intent of cooperation to establish a letter of content. After the letter of intent is submitted and approved by executive manager, it will be submitted to the company. Once approved by the company, the letter of cooperation intent can be officially signed.
(3) Business negotiation
The departments concerned, under the lead of executive manager, carry on business negotiations with partners to establish a contract paper. After the contract paper is submitted and approved by the company, it can be officially signed.

4. Project Implementation
Project will be implemented in strict accordance with the contract and construction process.

5. Project post-evaluation
After the project is completed, inspected, accepted, and put into operation for half a year, the company will organize a project post-evaluation.