Core Viewpoint - China Nonferrous Mining (01258) has seen a significant increase in stock price following the announcement of a share purchase agreement for SM Minerals, which will increase its ownership from 15% to 70% [1][2] Group 1: Share Purchase Agreement - On December 19, China Nonferrous Mining announced a share purchase agreement to acquire 64,700 shares of SM Minerals, representing 55% of its issued share capital, for a price of $89 million [1] - After the completion of the share purchase agreement, the company will hold a total of 70% of SM Minerals' issued share capital [1] Group 2: Resource Estimates - The current ore resource at the Bencalla North mine is estimated at 384 million tons, containing 1.58 million tons of copper with an average grade of 0.41% [1] - Proven and controlled copper resources amount to 940,000 tons, accounting for approximately 60% of the total [1] - The average grade of associated gold is approximately 0.1 g/t, although the qualified report has not yet accounted for the associated gold resource due to historical assay delays [1] Group 3: Project Development Timeline - Since July 2025, the company has completed fieldwork for additional exploration, with resource estimates to be disclosed after completion [2] - The preliminary construction scale for the project is set at an open-pit mining capacity of 14 million tons per year, with an expected annual production of copper concentrate of approximately 45,000 tons [2] - The Bencalla South deposit is still in the early stages, with only inferred resources confirmed, and the company plans to complete feasibility studies and preliminary designs by 2027, aiming to start construction in 2027 and commence production in 2029 [2]
港股异动 | 中国有色矿业(01258)高开逾5% 进一步收购哈萨克斯坦SM Minerals股本