Shandong Jinlai Mining Co., Ltd. was established in October 2020. The mining area is located in Laizhou City, Yantai, Shandong Province, with a registered capital of 190 million yuan. It is mainly engaged in iron ore and gold mining. At present, the reserves of iron ore resources are more than 38 million tons, and the designed mining capacity is 1.1 million tons per year. After it is officially put into operation, it can achieve an annual output of 1.1 million tons of ore and 400,000 tons of iron ore fine powder, with a design service life of 30 years and an annual operating income of 440 million yuan.