Core Viewpoint - Zijin Mining (601899)(02899) has received approval from the Hong Kong Stock Exchange for the listing and trading of Zijin Gold International shares on the main board, with trading set to commence on September 30, 2025 [1] Group 1 - Zijin Gold International will be listed on the main board of the Hong Kong Stock Exchange following the completion of a global offering [1] - The shares will be traded in units of 100 shares, with the stock code being 2259 [1] - The group will hold approximately 86.70% of the total issued share capital of Zijin Gold International, not accounting for any additional shares that may be issued under the over-allotment option [1]

Group 1 - The core point of the article is that Zijin Mining (02899.HK) has received approval from the Hong Kong Stock Exchange for the listing and trading of Zijin Gold International shares on the main board [1] - The global offering is expected to be completed, with Zijin Gold International shares set to begin trading on September 30, 2025, at 9:00 AM [1] - Zijin Mining will hold approximately 86.70% of the total issued share capital of Zijin Gold International after the completion of the global offering, excluding any additional shares that may be issued under the over-allotment option [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購任何證券的邀請或要約，亦並非旨在 邀請此等要約或邀請。具體而言，本公告不構成且亦非於美國或任何其他司法權區 出售或邀請或招攬購買或認購任何證券之要約（若根據有關司法權區的證券法，有 關要約、招攬或出售在未有註冊或達致資格前屬非法）。紫金黃金國際的證券並無 根據美國一九三三年證券法（經修訂）（「美國證券法」）登記，亦不會於未作登記或未 獲豁免遵守美國證券法之登記規定之情況下於美國境內提呈發售或出售。任何於美 國進行之證券公開發售，將通過招股章程之方式進行，而相關招股章程將載有紫金 黃金國際及其管理層之詳細信息，以及其財務報表。現時本公司無意將紫金黃金國 際證券任何部分於美國進行登記或於美國進行公開發售。 Zijin Mining Group Co., Ltd.* 紫 金 礦 業 集 團 股 份 有 限 公 司 （一家於中華人民共和國註冊成立的股份有限公司） （股票代碼 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購任何證券的邀請或要約，亦並非旨在 邀請此等要約或邀請。具體而言，本公告不構成且亦非於美國或任何其他司法權區 出售或邀請或招攬購買或認購任何證券之要約（若根據有關司法權區的證券法，有 關要約、招攬或出售在未有註冊或達致資格前屬非法）。紫金黃金國際的證券並無 根據美國一九三三年證券法（經修訂）（「美國證券法」）登記，亦不會於未作登記或未 獲豁免遵守美國證券法之登記規定之情況下於美國境內提呈發售或出售。任何於美 國進行之證券公開發售，將通過招股章程之方式進行，而相關招股章程將載有紫金 黃金國際及其管理層之詳細信息，以及其財務報表。現時本公司無意將紫金黃金國 際證券任何部分於美國進行登記或於美國進行公開發售。 有限公司（「紫金黃金國際」）並在香港聯交所主板上市（「紫金黃金國際境外上市」）。 除另有指明外，本公告所用詞彙與早前公告所界定者具有相同涵義。 全球發售的申請及分配 ...

Group 1 - The core point of the article highlights a significant block trade of Zijin Mining on September 29, with a transaction volume of 100,000 shares and a transaction amount of 2.877 million yuan, at a price of 28.77 yuan per share [2] - In the last three months, Zijin Mining has recorded a total of 57 block trades, amounting to 2.106 billion yuan [2] - The closing price of Zijin Mining on the same day was 28.77 yuan, reflecting a 5.00% increase, with a daily turnover rate of 1.94% and a total transaction amount of 11.348 billion yuan [2] Group 2 - The net inflow of main funds for Zijin Mining on that day was 428 million yuan, and the stock has increased by 13.40% over the past five days, with a total net inflow of 1.118 billion yuan [2] - The latest margin financing balance for Zijin Mining is 4.919 billion yuan, which has decreased by 239 million yuan over the past five days, representing a decline of 4.63% [2]

Investment Rating - The report gives a "Buy" rating for the company, with a target price of 37 CNY per share, indicating a potential upside from the current price of 28.77 CNY [6][3]. Core Insights - The company is positioned as a high-growth leader in copper and gold mining, with plans to spin off its subsidiary, Zijin Gold International, for a listing on the Hong Kong Stock Exchange by September 30, 2025, which is expected to catalyze a revaluation of the company's stock [1][3]. - The company has significant mineral resources, with copper reserves of 50.43 million tons and gold reserves of 1,487 tons, ranking second and fifth globally, respectively [1]. - The projected compound annual growth rate (CAGR) for copper and gold production from 2024 to 2028 is approximately 10%, with expected production of 1.07 million tons of copper and 73 tons of gold in 2024, increasing to 1.5-1.6 million tons of copper and 100-110 tons of gold by 2028 [2][3]. Financial Summary - The company’s revenue is projected to grow from 293.4 billion CNY in 2023 to 401.2 billion CNY by 2027, reflecting a growth rate of 8.54% in 2023 and 7.95% in 2027 [4][12]. - Net profit attributable to shareholders is expected to rise from 21.1 billion CNY in 2023 to 70.8 billion CNY in 2027, with a significant increase of 51.76% in 2024 [4][12]. - Earnings per share (EPS) is forecasted to increase from 0.80 CNY in 2023 to 2.67 CNY in 2027, indicating strong profitability growth [4][12]. Production and Expansion Plans - The company is expanding its production capacity across three major regions: Serbia, the Democratic Republic of Congo, and Tibet, with significant projects underway to increase copper output [2][3]. - The gold segment is also expected to grow through multiple operational projects in Colombia, Suriname, and China, contributing to the overall growth of the company's gold business [2][3].

Group 1 - The core point of the news is that Zijin Mining conducted a block trade of 100,000 shares on September 29, with a transaction amount of 2.877 million yuan, accounting for 0.03% of the total transaction volume for that day [1][2] - The transaction price was 28.77 yuan, which was in line with the market closing price of 28.77 yuan on the same day [1][2]

Core Viewpoint - Bank of America Securities reports that operational issues at the world's three major copper mines will lead to lower actual production in the next two years, prompting an upward revision of copper price forecasts for 2024 and 2027 to $11,313 and $13,500 per ton respectively [1] Group 1: Copper Supply and Demand - The closure of the Grasberg mine is expected to create a supply gap of 270,000 tons next year [1] - European demand is showing signs of recovery, while Chinese demand is stabilizing, putting pressure on copper supply [1] Group 2: Company Target Price Adjustments - Zijin Mining's target price has been raised from HKD 31 to HKD 37, maintaining a "Buy" rating [1] - Luoyang Molybdenum's target price has been increased from HKD 14 to HKD 16.5, also with a "Buy" rating [1] - Jiangxi Copper's rating has been upgraded from "Underperform" to "Buy," with the target price soaring from HKD 17 to HKD 31, benefiting from rising prices of copper concentrate, gold, and silver [1]

每经AI快讯，9月29日，紫金矿业涨近4%，报28.49元/股，股价再创新高，总市值突破7571亿元。 （文章来源：每日经济新闻） ...

Group 1: Copper Price Surge - The global copper price has significantly increased due to the suspension of production at Indonesia's Grasberg copper mine, with LME copper closing at $10,320 per ton on September 24, marking a 3.46% rise [4][5] - On September 25, the average price of 1 electrolytic copper in the Yangtze market reached 82,500 yuan per ton, up 3.06% from the previous day, an increase of 2,450 yuan [4][5] - The Grasberg mine, one of the largest copper mines globally, has a copper reserve of 13.99 million tons and has lowered its third-quarter sales guidance for copper and gold by 4% and 6%, respectively [5][6] Group 2: Market Reactions and Predictions - Analysts suggest that the impact of the Grasberg incident is primarily psychological for the market, with minimal direct effects on domestic copper concentrate supply [3][6] - The incident is expected to lead to a slight reduction in global metal supply, with estimates of a decrease of about 5,000 tons in 2025 and 22,000 tons in 2026, which is a small fraction of the expected consumption [6][7] - Despite the recent surge, some market participants believe that copper prices may correct downward as demand weakens after the initial excitement fades [7] Group 3: Company Performance and Outlook - Domestic copper companies, such as Luoyang Molybdenum and Zijin Mining, have shown strong stock performance, with Luoyang Molybdenum's stock price rising by 9.90% to 13.87 yuan [7][8] - Luoyang Molybdenum is projected to produce 650,200 tons of copper in 2024, a 55% increase year-on-year, positioning it among the top copper producers globally [8][9] - The company anticipates a stable market as U.S. import tariffs on copper products take effect, which may alleviate supply tensions outside the U.S. [9]