A股千亿铜业巨头，看上南美千万吨顶级铜金矿，股价触及涨停

Core Viewpoint - Jiangxi Copper is pursuing a non-binding cash offer to acquire all shares of SolGold Plc at a price of 26 pence per share, aiming to enhance its resource base and address profitability issues in its copper production [1][7][12]. Group 1: Acquisition Details - Jiangxi Copper submitted two non-binding cash offers to SolGold on November 23 and 28, which were both rejected by SolGold's board [1][9]. - The core asset of SolGold is the Cascabel project in Ecuador, which is considered one of the largest undeveloped copper-gold mines discovered in South America in the past decade [5][6]. - As of December 1, Jiangxi Copper holds 12.19% of SolGold's shares, making it the largest single shareholder [6][12]. Group 2: Market Reaction and Financial Implications - Following the announcement of the cash offers, SolGold's stock price rose significantly from 20.1 pence on November 21 to 30.77 pence on November 28, indicating a potential increase in acquisition costs for Jiangxi Copper [9]. - Jiangxi Copper's stock price increased by 9.16% to 40.86 yuan per share, with a market capitalization of 127.5 billion yuan as of December 1 [3]. Group 3: Resource and Production Outlook - If the acquisition is successful, the Cascabel project could significantly increase Jiangxi Copper's resource base, potentially alleviating profitability issues related to its cathode copper production [2][16]. - Jiangxi Copper's copper smelting capacity is projected to reach 2.3 million tons per year in 2024, with a current production of 20,200 tons of copper concentrate [12][14]. - The Cascabel project is expected to have a long operational life of 28 years, with an average annual copper production of 123,000 tons, which could potentially double Jiangxi Copper's copper output [16]. Group 4: Strategic Positioning - Jiangxi Copper is also the largest shareholder of First Quantum Minerals, holding 18.47% of its shares, which positions the company favorably within the global copper production landscape [17].