China Natural Resources Inc (NASDAQ: CHNR)

China Natural Resources, Inc. is a BVI incorporated holding company whose operations are conducted through subsidiaries in the People's Republic of China. The company is primarily engaged in the exploration for lead, silver and other nonferrous metals in the Inner Mongolia Autonomous Region and is pursuing the acquisition of a lithium mining concession in Zimbabwe through Williams Minerals. Prior to July 2023 it also operated a wastewater treatment business via its subsidiary PST Technology, which has since been sold.

China Natural Resources, Inc. generates revenue from its wastewater treatment segment through engineering, procurement and construction projects, public private partnership projects and technical consulting services provided by Shanghai Onway, and previously from the trading of copper ore. After the sale of PST Technology in July 2023 the company no longer has operating revenue and remains in the exploration stage, with potential future income dependent on the successful development of its mineral properties.

The company operates through the following segment: Exploration and Mining.

• Exploration and Mining: The company explores for lead, silver and other nonferrous metals at the Moruogu Tong Mine in Inner Mongolia through its subsidiary Bayannaoer Mining, and is seeking to acquire full interest in Williams Minerals, which holds a lithium mining concession in Zimbabwe.

China Natural Resources, Inc. is an exploration stage enterprise in the base metals sector with prospective exposure to lithium. It benefits from recent price gains in lead, silver and copper and from growing global demand for lithium driven by clean energy technologies. Competitive advantages include its secured exploration rights in Inner Mongolia, a joint venture funding arrangement with related parties that reduces upfront capital requirements, and the strategic lithium asset in Zimbabwe.

The company's wastewater treatment segment previously served municipal and industrial clients in China; its mining segment, once developed, would sell metal concentrates to smelters, traders and industrial users. No specific customer names are disclosed in the filing.