Core Viewpoint - Minmetals Resources (01208) shows a positive market performance with a nearly 3% increase in stock price, attributed to strong operational performance and production forecasts for copper and zinc [1] Group 1: Production and Operations - The Las Bambas mine is expected to operate smoothly this season, with copper production projected to exceed 100,000 tons in Q4 2023, and all on-site inventory is expected to be sold by year-end [1] - The expansion at the Kinsevere mine is progressing as planned, while production at the Khoemacau mine is anticipated to increase quarterly as new contractors stabilize operations [1] - The Dugald River and Rosebery mines are maintaining stable performance, supported by an optimistic overall commodity market environment, tight copper concentrate supply, and seasonal increases in zinc prices [1] Group 2: Production Guidance and Price Sensitivity - The company is expected to achieve an annual production guidance of approximately 500,000 tons of copper and about 230,000 tons of zinc for the year, with moderate growth anticipated by 2026 [1] - Profitability remains highly sensitive to fluctuations in copper prices, with a 1% change in copper prices expected to result in approximately a 1.7% change in profitability by 2026 [1] - Due to strong growth momentum in Q4, stable copper and zinc production, and rising metal prices, the company maintains a "hold" rating, with production stability at Las Bambas and Kinsevere's output dependent on power supply [1]
港股异动 | 五矿资源(01208)盘中涨近3% 机构预计Las Bambas矿区第四季铜产量将超过10万吨