TD Holdings, Inc. announced that it has signed a partnership agreement with Achieve Prosper Limited (AP), to establish a joint venture (the JV) in Lombok, Indonesia for mining three local large gold deposits. As part of the company's globalization initiative, the JV marks the company's stepping into the gold mining industry in Indonesia and is expected to position the company well to integrate upstream mineral resources to fuel its long-term business growth and increase profitability. Pursuant to the Agreement, the JV will engage in exploring, extracting, beneficiating, and selling the gold deposits.

The Company, AP and local cooperative community will own 80%, 10%, and 10% equity interest of the JV, respectively. The company is responsible for gold exploration, mining, beneficiation, equipment and technology investment, and daily operation, and AP is responsible for handling relevant certificate procedures and coordinating government relations. The JV will focus on three gold mines located in Lombok, an island located in the western region of Nusa Tenggara Province, Indonesia.

Gold Mine 1 is situated in the southwest of the island, while Lead-Zinc-Gold Mines 2 and 3 are positioned in the south. These mining sites boast close proximity to the sea, with Gold Mine 1 and 3 located within 2.4 kilometers from the coastline. Geological conditions in the area are highly conducive to mineralization, indicating widespread mineral resources, thick ore bodies, convenient extraction processes, and high-grade ore.

Exploration of the mines confirms that these three mines have abundant gold resources and relatively low extraction difficulties. Lombok is known for its bountiful mineral resources, including metallic minerals like pyrite, native gold, and limonite, as well as vein minerals such as quartz, feldspar, and sericite. Gold mining in the region contributes to an increase in local economic activity, employment, income, and opportunities.