Xin Lang Cai Jing·2025-12-25 23:32Core Viewpoint - The current high metal prices are prompting many exploration, mining service, and equipment manufacturers to transition towards mining development, with various models such as equity participation, control, and EPC+O (low equity but enjoying excess profit rights) being adopted [1] Group 1: Transition Models - The transition models are expected to become significant forces in future mining development due to the strong willingness of small and medium-sized mine owners to develop, despite facing constraints like limited financial strength and insufficient technical and project management capabilities [1] - Large mining companies prefer projects with large resource volumes and long lifecycles, showing less interest in smaller-scale mines [1] Group 2: Role of Mining Service and Equipment Companies - Mining service and equipment companies possess rich operational experience, allowing them to participate in the development of small mines through the EPC+O model [1] - This mutually beneficial business model is anticipated to expand on a large scale in the future, making the transition of mining service and equipment manufacturers a promising investment opportunity [1]