证券代码：601899 证券简称：紫金矿业 编号：临 2025-055 紫金矿业集团股份有限公司 关于为子公司提供担保的实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 公司全资子公司紫金实业向上海浦东发展银行申请总额不超过人民币 6.87 亿元贷款。公司将为上述贷款提供连带责任担保，担保期限不超过 6 年。 截止本公告日，公司为紫金实业提供的担保余额为 0 亿元。 （一）为全资子公司金山（香港）国际矿业有限公司提供担保 被担保人：金山（香港）国际矿业有限公司（以下简称"金山香港"） 紫金矿业集团股份有限公司（以下简称"公司"）全资子公司金山香港向 中国银行申请总额不超过人民币（币种下同）42 亿元贷款。公司将为上述贷款提 供连带责任担保，担保期限不超过 5 年。 （二）为全资子公司紫金海外发展（海南）有限公司提供担保 被担保人：紫金海外发展（海南）有限公司（以下简称"紫金海南"） 公司全资子公司紫金海南向进出口银行海南省分行申请总额不超过人民 币 3.322 亿元贷款。公司将为上述贷款提供连带责任担保 ...

Core Viewpoint - The company has established a risk disposal plan in collaboration with Zijin Mining Group Finance Co., Ltd. to effectively prevent, control, and resolve financial business risks, ensuring the safety of funds [1][2]. Group 1: Risk Management Structure - A risk prevention and disposal leadership group has been formed, led by the company's chairman, with the financial director as the deputy leader, including heads from various departments [1]. - The leadership group is responsible for organizing risk prevention and disposal efforts, with a working group established within the financial planning department to oversee daily management and supervision of the financial company [1][2]. Group 2: Risk Reporting and Emergency Procedures - The company has implemented a financial business risk reporting system to regularly or temporarily report to the board of directors, including risk assessment reports on the financial company's operational qualifications and risk status [4]. - The risk disposal mechanism is to be activated under specific circumstances, such as financial runs, significant social impact events, or operational disruptions due to disasters or security incidents [6]. Group 3: Risk Mitigation Measures - Upon the occurrence of financial risks, the working group must report to the leadership group, which will analyze the situation and escalate it to the board of directors [5]. - The leadership group is tasked with ensuring that the financial company takes proactive measures to mitigate risks, including potentially halting new loans and recovering funds as necessary [6]. Group 4: Post-Incident Management - After a financial risk incident is resolved, the leadership group will enhance supervision of the financial company, requiring it to strengthen its financial capacity and reassess its risk exposure [10]. - A thorough analysis of the causes and consequences of the financial risk incident will be conducted to improve future risk prevention and management strategies [11].

Core Viewpoint - The company has conducted a thorough risk assessment of Zijin Mining Group Finance Co., Ltd., confirming its compliance with regulations and sound financial performance [2][6][7] Group 1: Basic Information of the Financial Company - The financial company is named Zijin Mining Group Finance Co., Ltd., with a registered capital of 1,003.146 million yuan [2] - The ownership structure includes Zijin Mining Group Co., Ltd. holding 96% and Industrial International Trust Co., Ltd. holding 4% [2] Group 2: Risk Management and Internal Control - The financial company has established a robust organizational structure for risk management, including a board of directors and various committees for oversight [3][4] - A comprehensive risk management and assessment system is in place, with specific procedures for identifying, measuring, and managing risks [3][4] Group 3: Operational and Regulatory Indicators - As of December 31, 2024, the financial company reported total assets of 1.776 billion yuan, with operating income of 314 million yuan and net profit of 180 million yuan [5][6] - All regulatory indicators, including a capital adequacy ratio of 15.51% and a liquidity ratio of 42.37%, meet the required standards [6] Group 4: Business Engagement with the Financial Company - As of June 20, 2025, the company has not engaged in any business transactions with the financial company [6] Group 5: Risk Assessment Opinion - The company concludes that the financial company operates within legal frameworks, has a complete risk management system, and maintains good creditworthiness [6][7]

Core Viewpoint - Zijin Mining Group plans to spin off its subsidiary Zijin Gold International for listing on the Hong Kong Stock Exchange, aiming to enhance its international presence in the gold sector and capitalize on favorable market conditions for gold assets [1][9][18]. Meeting Details - The second class meeting for A and H shareholders is scheduled for June 26, 2025, at 9 AM, with online voting available during specified time slots [1]. - The meeting will be held at the Zhonghang Zijin Plaza in Xiamen, Fujian Province, and will be presided over by Chen Jinghe [1]. Agenda - The meeting will include the announcement of the number of shareholders present, the proposal of various resolutions, and the voting process for these resolutions [1]. - Key resolutions include the proposal for the spin-off of Zijin Gold International and related legal and financial considerations [1][5]. Spin-off Proposal - The spin-off aims to accelerate the internationalization of Zijin Mining's gold segment and create a leading global gold listing entity [1][9]. - The proposal has been approved by the board and is now submitted for shareholder review [5][9]. Listing Plan - The proposed listing will occur on the main board of the Hong Kong Stock Exchange, with ordinary shares being issued [9][20]. - The issuance will not exceed 15% of the total share capital post-issue, with an option for underwriters to exercise an additional 15% [10][21]. Market Context - The global macroeconomic environment, characterized by high inflation and geopolitical risks, has increased the value of gold as a safe-haven asset, with gold investment demand rising by 25% in 2024 [18][19]. - The Chinese government has initiated reforms to enhance cross-border capital market connectivity, providing new avenues for quality assets to access international financing [18][19]. Impact on Company - The spin-off is expected to enhance Zijin Gold International's ability to attract capital and improve its competitive position in the global gold market [13][24]. - Zijin Mining will maintain control over Zijin Gold International, ensuring that its financial performance continues to be reflected in the consolidated financial statements of the parent company [13][24]. Financial Overview - As of December 31, 2024, Zijin Mining reported total assets of approximately 39.66 billion yuan and a net profit of approximately 3.94 billion yuan for the year [25]. - The company has significant resources, with gold reserves amounting to 3,972.53 tons, ranking fifth globally [25].

Core Viewpoint - Zijin Mining has announced a significant reduction in copper production guidance for its Kamoa-Kakula copper mine in the Democratic Republic of Congo due to flooding caused by damaged underground pumping facilities, impacting the company's overall revenue and profit expectations for 2025 [2][5][6]. Group 1: Production Impact - The Kamoa-Kakula copper mine's production guidance for 2025 has been revised down from 520,000-580,000 tons to 370,000-420,000 tons due to flooding in the eastern section of the mine [2][5]. - The company expects a corresponding reduction in its copper equity production for 2025 by 44,000 to 93,000 tons [6][7]. - The mine experienced multiple seismic events leading to structural failures, which contributed to the flooding [3][4]. Group 2: Financial Implications - The Kamoa-Kakula mine is projected to contribute approximately 1.72 billion RMB to Zijin Mining's net profit in 2024, accounting for about 5.37% of the company's total net profit [4]. - The overall revenue and profit expectations for Zijin Mining in 2025 are likely to be negatively affected due to the production cut at the Kamoa-Kakula mine [6][7]. Group 3: Market Context - In 2024, Zijin Mining achieved a revenue of 303.64 billion RMB, with copper sales accounting for 27.98% of this revenue [6]. - The company is one of the top copper producers globally, with a production growth rate of 24% over the past five years [6]. - The global copper market is experiencing a tight balance between supply and demand, with rising prices driven by increased demand from both developed and developing economies [7][8]. Group 4: Strategic Developments - Zijin Mining is establishing a joint venture with Ajilan Brothers Mining Company in Saudi Arabia to explore and potentially mine mineral resources, including zinc, copper, and gold [8][11]. - The joint venture will be controlled jointly by Zijin Mining and Ajilan Mining, with Zijin holding a 51% stake [11].

2025 年第一次临时股东会 2025 年第二次 A 股类别股东会 2025 年第二次 H 股类别股东会 2025 First Extraordinary General Meeting The Second A Shareholder's and H Shareholder's Class Meeting in 2025 会 议 材 料 紫金矿业集团股份有限公司 2025 年 6 月 26 日 紫金矿业集团股份有限公司 2025 年第一次临时股东会议程 议 程 本次会议逐项审议下列议案： 1.关于分拆所属子公司紫金黄金国际有限公司至香港联交所上市符合相关法律、法规规 定的议案 2.关于分拆所属子公司紫金黄金国际有限公司在香港联交所上市方案的议案 3.关于《紫金矿业集团股份有限公司关于分拆所属子公司紫金黄金国际有限公司至香港 联交所上市的预案》的议案 9.关于本次分拆履行法定程序的完备性、合规性及提交法律文件有效性的说明的议案 会议时间：2025 年 6 月 26 日（星期四）上午 9 点。 网络投票时间：2025 年 6 月 26 日，通过交易系统投票平台：9:15－9:25，9:30 －11:30，13: ...

Core Viewpoint - Morgan Stanley suggests buying Zijin Mining (02899.HK) during gold price pullbacks due to solid valuation re-evaluation prospects [1] Group 1: Valuation and Market Potential - Zijin Mining's overseas gold mining assets are expected to be listed, potentially increasing its market value by 11% to 17% [1] - The company's gold exposure is projected to surpass its copper exposure by Q2 2025, which may help narrow the valuation gap between Zijin and pure gold companies [1] Group 2: Current Valuation Metrics - Zijin Mining currently has a 12-month forward P/E ratio of 11 times, compared to the average expected P/E of 17 times for pure gold companies [1] - Morgan Stanley reiterates an "overweight" rating for both Zijin's A-shares and H-shares [1]

Core Viewpoint - Zijin Mining's Kamoa-Kakula copper mine has faced production disruptions due to flooding, leading to a downward revision of its 2025 copper production guidance from 520,000-580,000 tons to 370,000-420,000 tons, raising uncertainties about the company's overall copper output growth for the year [1][3][4] Group 1: Production Impact - The Kamoa-Kakula copper mine is the largest copper mine in Africa and a key asset for Zijin Mining, contributing 194,700 tons of copper in 2024, making it the primary source of copper production growth for the company [1][4] - Following the flooding incident, the company plans to restart mining operations in the western section of the Kamoa-Kakula mine and utilize surface stockpiles to mitigate the impact on production [6][5] - The flooding has resulted in an estimated reduction of 44,000-93,000 tons in Zijin Mining's copper equity production for 2025 [4][6] Group 2: Profitability Outlook - Despite the production challenges, Zijin Mining's overall profitability trend remains positive, supported by expected growth in gold production, which is projected to increase by approximately 16.4% to 85 tons in 2025 [7][8] - The international gold price has seen significant increases, with a year-to-date rise of over 30%, which is expected to positively impact the company's profitability, especially in the gold segment [9][10] - Sell-side institutions have maintained stable earnings forecasts for Zijin Mining for 2025, with estimates generally ranging from 40 billion to 44 billion yuan, and some institutions have even raised their projections [10]

Core Viewpoint - Zijin Mining's Kamoa-Kakula copper mine in the Democratic Republic of Congo has suspended some underground operations due to multiple seismic events, which may significantly impact the company's copper production and net profit in the coming years [1][2][7]. Group 1: Production Impact - The Kamoa-Kakula copper mine is expected to see a production reduction of 44,000 to 93,000 tons in 2025, representing a year-on-year decline of approximately 22.6% to 47.8% compared to last year's output [1][7]. - The mine's production guidance for 2025 has been revised down from 520,000 to 580,000 tons to a new range of 370,000 to 420,000 tons due to the flooding incident [7]. Group 2: Financial Implications - The Kamoa-Kakula mine is projected to contribute approximately 1.72 billion RMB to Zijin Mining's net profit in 2024, accounting for about 5.37% of the company's total net profit for that year [3]. - The anticipated reduction in production will likely affect Zijin Mining's net profit for 2025, although the company maintains that the mine has strong internal adjustment capabilities due to its significant resource base [7]. Group 3: Operational Response - Following the flooding, Kamoa Copper has established an emergency response team and is working with international experts to assess and manage the situation [2][3]. - The company is in the process of procuring and installing high-capacity pumps and a permanent drainage system, with full drainage operations expected to commence by August 2025 [3][7]. Group 4: Future Outlook - Despite the current challenges, Zijin Mining remains optimistic about the Kamoa-Kakula mine's long-term potential, with expectations of reaching an annual production capacity of 600,000 tons once fully operational [7][8].

证券代码：601899 股票简称：紫金矿业 编号：临2025-054 紫金矿业集团股份有限公司 关于刚果（金）卡莫阿-卡库拉铜矿 暂停部分井下采矿的进展公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 2025 年 5 月 24 日，紫金矿业集团股份有限公司（以下简称"紫金矿业"或"公 司"）公告了旗下卡莫阿-卡库拉铜矿的卡库拉矿段接连发生多次矿震，及部分井 下采矿暂停作业的情况（具体内容详见公司临 2025-046 号公告）。 事件发生后，卡莫阿铜业有限公司（以下简称"卡莫阿铜业"）迅速成立抢 险工作机构，并聘请国际知名专业机构及专家，对矿山情况开展研究、评估和指 导。因井下深部抽水设施损毁，地下水位急剧上升，导致卡库拉矿段东区大面积 被淹。在股东方大力支持下，卡莫阿铜业迅速调集抽水设施进行抢险，目前卡库 拉矿段已实现井下涌水量和抽水量的动态平衡，地下水位控制在标高 1,110 米（北 部斜坡道口以下 299 米）；卡库拉矿段西区的北侧和南侧因位于标高 1,110 米以上， 已逐步重启井下采矿作业。卡莫阿铜业正紧急采购 ...