Group 1 - HSBC raised the target price for Zijin Mining (02899.HK) by 4.5% from HKD 22.2 to HKD 23.2, maintaining a buy rating [1] - The company has a solid fundamental outlook, despite production disruptions caused by seismic activity [1] - The copper production forecast for Kamoa-Kakula by Ivanhoe Mines has been reduced by 150,000 to 160,000 tons for 2025 [1] Group 2 - Production at the western section of Kakula has resumed as of June, and a new smelting plant is expected to commence operations in the second half of 2025 [1] - The strong performance of Hong Kong-listed mining stocks is attributed to concerns over copper tariffs leading to increased exports of U.S. copper concentrate, along with ongoing destocking in London Metal Exchange (LME) and China [1] - Antofagasta's processing fee quote for the second half of 2025 is set at USD 15 per ton, raising concerns about a potential shortage of copper concentrate [1] - Optimism surrounding U.S.-China trade negotiations has alleviated fears of an economic recession [1]