China Natural Resources Inc, listed on the Nasdaq capital market (code: CHNR), is principally engaged in exploration for lead, silver and other metals and copper trading in the Inner Mongolia Autonomous Region of the PRC and exploration of attractive opportunities in the healthcare sector in the PRC. CHNR is headquartered in Shenzhen, the PRC, with an office in Hong Kong.
Resources exploration is a crucial part of CHNR's activity, enabling us to fulfill our objectives of building a successful mining business in the near future and continually expanding our portfolio. So far, we have invested a significant amount of resources in metals exploration in the PRC. In November 2017, we acquired all of the issued and outstanding capital stock of Bayannaoer City Feishang Mining Company Limited, which holds an exploration permit to the Moruogu Tong Mine located in Bayannaoer City, Inner Mongolia Autonomous Region of the PRC. Initial reports of the exploration program have pointed to encouraging discoveries of prospective deposits of lead and silver. The results indicated that the main useful constituent of this deposit is lead, with associated useful constituent of silver. The current exploration work stage of the Moruogu Tong Mine has been completed, and further exploration and analysis are being planned with an aim to apply for a mining rights permit.
As our exploratory activities have yet to develop into revenue-generating mining operations, we also identified opportunities to trade copper in the PRC in 2019, which involves the purchase and sale of copper to fill customer orders as market opportunities arise.
We are excited to explore the opportunities presented by the healthcare sector in the PRC, and to diversify our operations as we move into our next phase of growth. Driven by an aging population, increasing disposable income, and rising health awareness and life expectancy, the PRC has become a major healthcare market with sizable and steadily increasing healthcare expenditures. We believe the relatively early stage of development and huge market potential provides fertile ground for our new expansion strategy. We intend to increase our ranks to include seasoned personnel with experience conducting mergers and acquisitions in the healthcare space to position us to participate in this growing and attractive market, which should support increased revenues and enhanced shareholder value.
CHNR's current achievements relied on a series of successful corporate moves of merger and acquisition, and in the foreseeable future, we will continue this strategy to appropriately focus and invest our resources, as well as to grow our businesses. By ever strengthening technologies and expertise in the mining industries and exploring the opportunities presented by the healthcare sector in the PRC, we pledge to provide high quality products and healthcare services at reasonable costs to our customers, while maximizing our shareholder value at the same time.
