Zhi Tong Cai Jing·2026-01-26 01:56Core Viewpoint - Zijin Mining (601899)(02899) has seen a stock increase of over 5%, currently up 5.34% at HKD 42.62, with a trading volume of HKD 1.021 billion [1] Group 1: Project Developments - The second phase of the Jilong Copper Mine expansion has officially commenced production as of January 23, significantly increasing its production capacity from 150,000 tons per day to a total of 350,000 tons per day, making it the largest copper mine in China and the highest in the world [1] - The Jilong Copper Mine is projected to produce over 190,000 tons of copper by 2025, with the annual ore processing capacity increasing from 45 million tons to over 105 million tons, and annual copper production expected to rise to approximately 300,000 to 350,000 tons [1] - By 2026, the expected copper production is estimated to reach 300,000 tons, while molybdenum production is anticipated to increase from 8,000 tons in 2025 to about 13,000 tons [1] Group 2: Future Plans - The company is planning the third phase of the Jilong Copper Mine project, which, if approved, will further lower the mining elevation and allow for the development of over 20 million tons of copper reserves, with an annual ore processing capacity of approximately 200 million tons [1] - Upon reaching full production, the Jilong Copper Mine is expected to produce around 600,000 tons of copper annually, solidifying its position as the largest copper mining operation globally [1]