卢安夏新矿项目是公司重要的扩产增储项目，项目投产后将创造大量就业岗位，带动赞比亚当地经济发 展，同时，能够提升谦比希铜冶炼的铜精矿原料保障，为公司股东带来丰厚收益。下一步，公司将按计 划开展项目建设工作，全力推动项目早日建成投产。 穆南浅部及玛希巴矿段资源开采项目基建期2年，矿山计划总服务年限为17年，项目建成达产后，将具 备年处理矿石量80万吨、年产铜精矿含铜约1.2万吨的生产规模。项目计划总投资约1.5亿美元。 28号竖井硫化矿资源开发项目基建期4年，矿山计划总服务年限为17年，项目建成达产后，将具备年开 采矿石量220万吨、年产铜精矿含铜约4.3万吨的生产规模。项目计划总投资约5.3亿美元。 中国有色矿业(01258)发布公告，为保障集团成员公司中色卢安夏铜业有限公司(中色卢安夏)可持续发 展，延长铜矿服务年限，中色卢安夏于近日对卢安夏新矿项目(包括穆南浅部及玛希巴矿段资源开采项 目、28号竖井硫化矿资源开发项目)开展投资建设。 ...

Core Viewpoint - China Nonferrous Mining (01258) is investing in the Luanshya new mine project to ensure sustainable development and extend the service life of its copper mining operations [1] Investment Projects - The Muana shallow and Mahiba mining resource extraction project has a construction period of 2 years, with a total service life of 17 years, aiming for an annual processing capacity of 800,000 tons of ore and an annual production of approximately 12,000 tons of copper concentrate. The total planned investment for this project is about $150 million [1] - The No. 28 shaft sulfide mining resource development project has a construction period of 4 years, also with a total service life of 17 years, targeting an annual mining capacity of 2.2 million tons of ore and an annual production of approximately 43,000 tons of copper concentrate. The total planned investment for this project is about $530 million [1] Economic Impact - The Luanshya new mine project is a significant expansion and resource increase initiative for the company, expected to create numerous job opportunities and stimulate the local economy in Zambia. It will also enhance the supply of copper concentrate for the company's smelting operations, providing substantial returns for shareholders [1]

Core Viewpoint - China Nonferrous Mining (01258.HK) is investing in the Luanshya new mine project to ensure sustainable development and extend the service life of its copper mining operations [1] Group 1: Project Details - The Muanna shallow and Mahiba mining resource extraction project has a construction period of 2 years and a total service life of 17 years, with an annual processing capacity of 800,000 tons of ore and an annual production of approximately 12,000 tons of copper concentrate. The total planned investment for this project is about $150 million [1] - The No. 28 shaft sulfide mining resource development project has a construction period of 4 years and a total service life of 17 years, with an annual mining capacity of 2.2 million tons of ore and an annual production of approximately 43,000 tons of copper concentrate. The total planned investment for this project is about $530 million [1] Group 2: Economic Impact - The Luanshya new mine project is a significant expansion and resource increase initiative for the company, expected to create numerous job opportunities and stimulate the local economy in Zambia [1] - The project will enhance the supply of copper concentrate raw materials for the company's smelting operations, potentially leading to substantial returns for shareholders [1]

香港交易及結算所有限公司及香港聯合交易所有限公司（「聯交所」）對本公告的內 容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本 公告全部或任何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 China Nonferrous Mining Corporation Limited 中國有色礦業有限公司 （根據公司條例於香港註冊成立的有限公司） （股份代號：01258） 28號豎井硫化礦資源開發項目基建期4年，礦山計劃總服務年限為17年，項目建成 達產後，將具備年開採礦石量220萬噸、年產銅精礦含銅約 4.3萬噸的生產規模。 項目計劃總投資約5.3億美元。 1 盧安夏新礦項目是本公司重要的擴產增儲項目，項目投產後將創造大量就業崗位， 帶動贊比亞當地經濟發展，同時，能夠提升謙比希銅冶煉的銅精礦原料保障，為 本公司股東帶來豐厚收益。下一步，本公司將按計劃開展項目建設工作，全力推 動項目早日建成投產。 承董事會命 中國有色礦業有限公司 朱超然及黃敏儀 自願公告 關於投資建設盧安夏新礦項目的自願性公告 本公告屬中國有色礦業有限公司（「本公司」，連同其附屬公司統稱「本集團」）自願 刊發的公告 ...

Investment Rating - The investment rating for Shandong Gold is "Buy" (maintained) [1] Core Views - Shandong Gold reported a revenue of 82.518 billion yuan in 2024, a year-on-year increase of 39.21%, and a net profit attributable to shareholders of 2.952 billion yuan, up 26.8% year-on-year [4] - The company's gold production increased by 10.51% year-on-year to 46.17 tons in 2024, driven by capacity enhancements and the resumption of operations at various mines [4][5] - The average domestic gold price rose by 23.83% year-on-year to 557.36 yuan per gram in 2024, with further increases expected in 2025 [4] Summary by Sections Financial Performance - In Q4 2024, Shandong Gold achieved a revenue of 15.512 billion yuan, down 13.59% year-on-year and 26.94% quarter-on-quarter, with a net profit of 0.886 billion yuan, down 9.85% year-on-year but up 29.81% quarter-on-quarter [4] - The company expects net profits for 2025-2027 to be 5.590 billion, 6.463 billion, and 7.021 billion yuan respectively, with corresponding P/E ratios of 21, 18, and 17 [6] Production and Expansion - The company plans to maintain gold production at no less than 50 tons in 2025, supported by ongoing expansion projects and acquisitions [5][6] - In 2024, Shandong Gold invested 590 million yuan in exploration, resulting in an additional gold resource of 58.8 tons [5] Market Outlook - The report anticipates continued high gold prices due to factors such as potential interest rate cuts by the Federal Reserve and geopolitical tensions, with the average domestic gold price reaching 736.18 yuan per gram by April 2025 [4][6]

Core Viewpoint - Chifeng Gold (600988.SH) is experiencing a significant growth period, with a projected net profit of 1.764 billion yuan for 2024, representing a year-on-year increase of 119.46% [1] Financial Performance - The company reported a free cash flow of 1.749 billion yuan, up 279.22% year-on-year, and a net operating cash flow of 3.268 billion yuan, an increase of 48.34% [1] - In the first and second quarters of 2024, the company achieved revenue of 4.196 billion yuan, a 24.45% increase year-on-year, and a net profit of 710 million yuan, up 127.75% [3] - For the third quarter, revenue was 2.027 billion yuan, a 19.88% increase, with a net profit of 395 million yuan, up 89.83% [4] Business Operations - Gold products accounted for nearly 90% of the company's revenue, with main business income reaching 8.976 billion yuan in 2024 [5] - The company produced 15.16 tons of gold in 2024, a 5.60% increase year-on-year, with domestic mines contributing 3.91 tons and overseas mines contributing 11.25 tons [6] - The overseas mines accounted for approximately 69.50% of the main business income [6] Expansion and Exploration - Chifeng Gold has initiated a three-year exploration and reserve expansion plan [2][16] - The company is actively pursuing resource growth projects, including the development of the Wanxiang Mine in Saipan, which contributed 1.2 tons of gold in its first year of production [6] - The company is also conducting economic assessments of previously closed pits in the Vasa Gold Mine in Ghana, with some areas expected to commence production in 2025 [7][8] Market Context - The global gold production growth is slow, while gold demand reached a historical high of 4,974 tons in 2024, with investment demand increasing by 25% to 1,180 tons [9] - The company has made strategic acquisitions, including the Vasa Gold Mine and a 51% stake in New Henghe Mining [10][11] - The company's gold production from 2021 to 2023 showed a compound annual growth rate of 33.1%, significantly higher than the average of domestic listed gold companies [13] Future Outlook - Chifeng Gold is optimistic about its 2025 performance, projecting revenue of 11.444 billion yuan and a net profit of 2.1 billion yuan [17]