China Baoli Technologies Holdings Limited (Stock Code: 164) announced on 11 February 2026 that it has entered into a cooperation agreement with Top Skill Global Limited. The arrangement covers the use of a dry grinding and dry beneficiation (DGDB) technology at an iron mine in Dundgobi Province, Mongolia, which holds over 80 million tonnes of total iron ore resources.

Under this agreement, China Baoli Technologies Holdings Limited will license its proprietary DGDB technology to process up to 1,000,000 tons of iron ore annually. As part of the arrangement, the company will serve as the sole and exclusive sales agent for all iron ore fines produced at the site. In return, the agreement specifies an upfront payment of HK$10 million upon the delivery of certain technical milestones, ongoing equipment leasing fees, and a right for the company to purchase the produced iron ore at a discount not exceeding 5% off prevailing market prices.

The cooperation agreement spans an initial term of ten years, with automatic renewal for successive five-year periods if neither party opts out via written notice. According to the announcement, the initiative marks the first major commercial deployment of the DGDB technology and is positioned as a showcase of its advantages in arid regions. The directors of China Baoli Technologies Holdings Limited believe this step will contribute positively to the group’s earnings and support broader commercialization of its proprietary mining technology.