Zhi Tong Cai Jing·2026-01-30 07:20Group 1 - Zijin Mining (601899) shares fell over 8%, currently down 8.63% at HKD 42.16, with a trading volume of HKD 6.971 billion [1] - The company announced plans to issue USD 1.5 billion zero-coupon guaranteed convertible bonds maturing in 2031, with net proceeds of approximately USD 1.527 billion intended for capital expenditures on the Arin project in Peru, while the remainder will be used for working capital and general corporate purposes [1] - Reports indicate that the USD 1.5 billion convertible bonds were fully subscribed within 10 minutes of the offering [1] Group 2 - Citigroup released a report expressing a lack of confidence in recent copper price trends, suggesting that in the coming weeks, Chinese investors may further allocate or rotate funds into base metals to counter rising precious metal prices [1] - In the context of soaring silver and gold prices, it is possible for copper prices to rise to USD 15,000 to USD 16,000 per ton; however, Citigroup's baseline expectation is that copper prices will remain around USD 13,000 per ton by 2026, sufficient to achieve market supply-demand balance this year [1]