Company: CHNR
Filing Date: 2025-01-27
Form Type: POS AM
Source: 0001079973-25-000143
Chunk: 112

Company: CHINA NATURAL RESOURCES INC
Filing Date: 2025-01-27
Form: POS AM
Chunk 112
---
 increase of approximately 5.61%.

The following table shows the world refined lead supply
and usage over the past five years:

|                                    |     | 2020 |        |     | 2021 |        |     | 2022 |        |     | 2023 |        |     | 2024 |        |
| World mine production              
 (thousand tons)                    |     |      |  4,437 |     |      |  4,552 |     |      |  4,433 |     |      |  4,467 |     |      |      * |
| World refined production (thousand 
 tons)                              |     |      | 12,545 |     |      | 13,000 |     |      | 12,776 |     |      | 13,219 |     |      |      * |
| World refined usage (thousand      
 tons)                              |     |      | 12,392 |     |      | 12,954 |     |      | 12,963 |     |      | 13,104 |     |      |      * |
| London Mercantile Exchange (“LME”) 
 average price (US$/ton)*           |     |      |  1,994 |     |      |  2,304 |     |      |  2,293 |     |      |      * |     |      |      * |
| SHFE average price (CNY/ton)       |     |      | 14,745 |     |      | 15,370 |     |      | 15,930 |     |      | 15,860 |     |      | 16,765 |

———————

Source: International Lead and Zinc Study Group, LME, SHFE.

*Certain data are not available yet.

Silver (chemical element
symbol Ag) is a soft, ductile, and malleable metal with the highest electrical conductivity, thermal conductivity and reflectivity of
any metal. It has a brilliant white metallic luster that can take a high polish and has similar physical and chemical properties with
copper and gold. Most silver is produced as a byproduct during refining of copper, gold, lead, or zinc. Despite being more abundant than
gold, silver has long been valued as a precious metal and used in currency and as an investment medium (bullion coins) alongside gold.
It is also used as an industrial metal