Guangdong Mingzhu's wholly-owned subsidiary Mingzhu Mining has been ordered to rectify safety hazards at the Jiaoyuan Nangou tailings pond within a deadline, and its beneficiation production line has been temporarily shut down. In July 2026, regulatory inspections found that the current total dam height of the tailings pond exceeded the design height by one meter. The Heyuan Emergency Management Bureau ordered an immediate halt to tailings discharge and required rectification to be completed by October 31. Mingzhu Mining expects to complete rectification and resume production by late August. During this period, it will use its aggregate production line to increase lump ore stockpiles to mitigate the impact. The company cautioned that third-quarter iron concentrate output and sales will decline. Mingzhu Mining holds a dominant position within the listed company. In the first quarter of 2026, its operating revenue accounted for 95.06% of consolidated revenue, and its net profit attributable to the parent company was 69.664 million yuan, higher than the listed company's overall 58.7166 million yuan. In 2025, Mingzhu Mining's net profit attributable to the parent company was 391 million yuan, while the listed company's was 184 million yuan.
Mingzhu Logistics Holdings Ltd
Guangdong Mingzhu Group Co LtdSubsidiary ordered to suspend production due to safety rectification, reducing Q3 output and sales.
Iron ore supply disruption from Mingzhu Mining's suspension may affect seaborne market sentiment.
