PERSISTENCEGOLD's Subsidiaries in Yantai Halt Operations Following Mine Accident

Stock News

Feb 10

PERSISTENCEGOLD (02489) announced that the Yantai Emergency Management Bureau verbally notified its subsidiaries, Yantai Zhongjia Mining Co., Ltd. and Yantai Mujin Mining Co., Ltd., to suspend production. This action was taken after a serious accident occurred at a third-party mine in Zhaoyuan City, Yantai, on February 7, 2026. In response to the incident, the authorities have mandated that not only the involved mine cease operations immediately, but all other non-involved mining enterprises, including the group, must also halt production promptly. Consequently, Yantai Zhongjia and Yantai Mujin have cooperated fully and suspended all mining activities. Further steps will depend on the issuance of a formal notice by the Emergency Management Bureau.

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This action was taken after a serious accident occurred at a third-party mine in Zhaoyuan City, Yantai, on February 7, 2026. In response to the incident, the authorities have mandated that not only the involved mine cease operations immediately, but all other non-involved mining enterprises, including the group, must also halt production promptly. Consequently, Yantai Zhongjia and Yantai Mujin have cooperated fully and suspended all mining activities. 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