ArtGo to Deprioritize Renewal of Mine in Dejiang, China

MT Newswires Live

01/22

ArtGo (HKG:3313) said it would no longer commit resources to the renewal of the mine in Dejiang, China, according to a Hong Kong bourse filing Wednesday.

Shares of the marble miner gained over 1% in morning trade Thursday.

The firm had filed a renewal license in 2019 but received a rejection from the authorities in late 2024.

At the time, the firm decided to resubmit the renewal application, but now said it was reconsidering its priorities after evaluating the commercial feasibility of such a renewal.

The firm plans to instead focus its efforts on the Yongfeng mine, which currently holds a valid mining license with room to increase production capacity.

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