The global green energy revolution and manufacturing upgrade wave are propelling prices of multiple critical metals into unprecedented upward trajectories. Among them, minor and rare metals like silver, tungsten, and antimony—possessing both strategic significance and scarcity—are undergoing historic revaluation due to their irreplaceable roles in emerging industries. Alongside copper, they have become core resource pillars for industrial transformation. As a dedicated practitioner in the resource and environmental sectors, BGT not only accurately discerns this structural trend but has also strategically positioned itself with forward-looking vision.

Next, let us explore the core logic behind the synchronized strength of minor metals, rare metals, and key metals, and delve into BGT's diversified resource strategy.

The Rising Tide of “Gold”: The Deep Logic Behind the Surge in Four Major Metals

Currently, minor metals and rare metals like silver, tungsten, and antimony, combined with copper as a key base metal, are forming a powerful, resonant upward trend. This surge profoundly reflects the era's defining themes: green transformation, advanced manufacturing, and the evolution of global supply chains. Its core drivers transcend short-term supply-demand fluctuations, revealing distinct structural characteristics:

Silver: A Rare Metal Duet of Photovoltaic Demand and Financial Attributes

As a rare metal embodying both industrial value and financial attributes, silver's strategic significance is being redefined.

• Explosive PV Demand: As the core raw material for conductive silver paste in photovoltaic cells, silver's industrial role is being redefined. Rapid growth in global PV installations directly fuels silver demand, with its share in certain PV module costs becoming increasingly significant. Market data indicates silver prices will surge significantly by 2025, as supply and demand have remained structurally deficient for consecutive years.

• Investment and Safe-Haven Synergy: Against a backdrop of anticipated macroeconomic liquidity easing and geopolitical tensions, silver's financial attributes and investment demand have been further activated, forming a “dual-engine drive” alongside robust industrial demand.

Tungsten: The “Hardcore Foundation” of High-End Manufacturing

As a quintessential rare high-melting-point metal, tungsten's irreplaceable physical properties make it a core pillar of high-end manufacturing.

• Strategic Value Emerges: Tungsten's unmatched properties—exceptional hardness, high melting point, and density—make it a core material for cutting tools, military/aerospace applications, new energy, and semiconductors. Since 2025, its price has surged to multi-year highs.

• Highly Concentrated and Rigidly Contracting Supply: Global tungsten supply heavily relies on China. In recent years, tightening domestic mining quotas, heightened environmental regulations, and naturally declining ore grades have collectively created persistent supply constraints. Simultaneously, emerging demand—particularly for photovoltaic tungsten filaments—is growing rapidly, exacerbating the supply-demand imbalance.

Antimony: The “Rare Key Element” for Flame Retardants and High-Tech Applications

Antimony is a rare strategic metal with both industrial necessity and technological attributes, whose expanding applications are driving a revaluation of its worth.

• Optimized demand structure: Antimony's traditional applications have centered on flame retardants and lead-acid batteries. In recent years, its critical role in photovoltaic glass clarifiers has become increasingly prominent, benefiting from the expansion of the global photovoltaic industry and gaining a strong growth driver. Additionally, antimony compounds serve as essential materials for manufacturing mid-wave to long-wave infrared detector chips—the “eyes” enabling satellite Earth observation, space target detection, meteorological remote sensing, and astronomical observation. Their properties meet the stringent “small size, light weight, low power consumption” requirements for detection equipment in commercial space applications.

• Supply Enters Plateau Phase: Domestic antimony mines face declining ore grades and rising environmental costs after prolonged intensive mining, limiting supply growth. Simultaneously, overseas projects struggle to deliver effective supply in the short term, maintaining tight global antimony market conditions and sustained high prices.

Copper: The “Core Artery” of Green Transformation

As a key base metal synergizing with minor and rare metals, copper is central to achieving China's dual carbon goals.

• Demand Logic: The global energy transition toward renewables drives exponential copper demand growth in photovoltaics, wind power, new energy vehicles, cables, and data centers. Copper has become an indispensable “green metal” in this transformation, jointly forming the resource foundation for emerging industries alongside minor and rare metals.

• Supply Constraints: Global high-quality copper ore resources are scarce, while new projects face lengthy commissioning cycles and high costs. Supply rigidity underpins a long-term upward shift in price fundamentals, mirroring the supply-demand dynamics of minor and rare metals.

Building Momentum: BGT's Global Multi-Metal Resource Strategy

In this “Age of Metals” driven by structural opportunities, BGT has long abandoned reliance on single resources. We have established a diversified, global resource network centered on copper as the core strategic pillar, with minor metals and rare metals like silver, tungsten, and antimony serving as key strategic footholds.

• Global Vision, Strategic Placement: Our footprint has expanded into resource-rich regions like Xinjiang, Sichuan, and Yunnan. These areas boast not only abundant copper resources but also significant reserves of minor and rare metals like silver, tungsten, and antimony. Through scientific exploration assessments and acquisitions, BGT has built a diverse, stable resource information network and project pipeline covering minor metals, rare metals, and base metals.

• Technology-Driven Value Identification: We actively build mining technology teams and engage in industrial collaborations to identify promising minor, rare, and copper mineral projects at early stages. We particularly focus on strategically scarce commodities to enhance resource acquisition precision and efficiency.

As a leading enterprise deeply rooted in the environmental industry, we prioritize environmental, social, and governance standards in all our initiatives. We are committed to responsibly developing resources—including minor and rare metals—to achieve harmonious coexistence with local communities and the environment.

Focusing on Core: BGT's Multi-Metal Resource Strategy Advances in Synergy

Guided by deep insights into global industrial trends, BGT's resource strategy is clear and resolute, evolving from single-resource focus to diversification and from initial deployment to deep cultivation:

• Steady Advancement of Existing Projects: Xinjiang serves as a vital mineral resource base in China, abundant in non-ferrous metals with substantial reserves of copper, nickel, lead, zinc, gold, and silver. Minor metals and rare metals like silver, tungsten, and antimony—key targets for future expansion—possess unique development value. Located at the heart of the Silk Road Economic Belt, Xinjiang benefits from favorable conditions for developing minor and rare metals alongside diverse mineral resources as the Belt and Road Initiative advances. Currently in the mineral resource reserve phase, the company is acquiring assets—including minor and rare metals—through exploration, mergers and acquisitions, and equity participation. It remains committed to its resource-first strategy, advancing steadily. To date, the company has secured four copper polymetallic exploration rights in Xinjiang (covering a total area of 174.1 square kilometers), one lithium exploration right (spanning 43.9683 square kilometers within the resource-rich Arjin lithium polymetallic mineral belt), and one lead-zinc polymetallic exploration right (covering 35.91 square kilometers). Notably, the survey of the Gantantan West Copper Deposit in Yutian County identified two manganese mineralized bodies and six copper mineralization points. One manganese mineralized body meets industrial grade requirements, while two copper mineralization points satisfy boundary grade criteria. Additionally, the survey of iron-copper deposits in the Laileqiao area of Pishan County discovered three iron-copper mineralization points, with two copper deposits meeting general industrial grade standards. Relevant exploration work is undergoing systematic resource verification and technical-economic evaluation, laying a solid foundation for the comprehensive development of minor metals, rare metals, and copper resources.

• Collaborative Development, Synergistic Win-Win: BGT recently completed the acquisition of Wenshan State Dahao Mining Development Co., Ltd. This marks not only a key strategic move for BGT in the minor and rare metals sector but also a significant step in practicing its philosophy of “resource circulation and symbiosis with nature” while promoting coordinated industrial chain development. Dahao Mining holds core resources in scarce minor and rare metals such as antimony and tungsten, with nine valid registered mining rights covering polymetallic deposits including antimony, tungsten, lead-zinc, and copper, alongside associated silver, cadmium, and gallium. This provides robust support for BGT's diversified minor and rare metal portfolio.

• Committed to Green and Smart Mining: For all future resource development—including minor metals, rare metals, and copper—BGT will adopt internationally advanced environmental technologies and intelligent mining solutions. This approach maximizes resource recovery rates while minimizing energy consumption and environmental footprint, establishing industry benchmarks for sustainable development. Concurrently, we actively establish strategic partnerships with international mining companies, local partners, and financial institutions. By leveraging complementary strengths, we jointly advance the development of high-quality minor metals, rare metals, and copper projects while effectively diversifying risks.

Looking Ahead: Riding the Tide of the Times to Forge a New Chapter for BGT

As the tide of the times surges forward, strategic mineral resources have become the focal point of great power rivalry and industrial competition. Among these, minor metals and rare metals, with their scarcity and irreplaceability, have emerged as the core battleground. With its forward-looking diversified strategy, BGT has established a composite resource portfolio encompassing minor metals, rare metals, and copper, poised for rapid advancement.

Simultaneously, the company's professional mineral exploration and development team, following the acquisition of Dahao Mining, has efficiently commenced development and construction at the Xiaodong Antimony Mine. Guided by clear strategic planning, a global resource perspective, a diversified asset portfolio, and a steadfast commitment to sustainable development, BGT is poised to fully integrate the antimony industry chain in the near future. This will further enhance its plan in minor and rare metals, enabling the company to firmly grasp control over core resources amid this profound industrial transformation. Together with all partners, BGT will forge a more sustainable and resilient future.