Bahlil Lahadalia在一个会议上称，"去年我们禁止出口铝土矿，我们正在研究未来数年禁止出口包括锡 在内的许多其他（原矿）商品。" （文华综合） 2月13日（周五），印尼矿业部长Bahlil Lahadalia称，该国正在研究未来数年禁止出口包括锡在内的多 种原材料的计划。 他称，该国鼓励投资者扩大对加工业的投资。 印尼已经禁止出口包括镍矿、铝土矿和铜精矿在内的数种原矿，以吸引国内加工行业投资和出口高附加 值产品。 "我们不应该再出口原材料。" ...

Core Viewpoint - The future events worth monitoring for BHP's stock include shareholder return plans, strategic project progress, and industry dynamics [1] Group 1: Performance and Operational Situation - The company has announced a shareholder return plan for the fiscal year 2026, which includes a cash dividend of $190 million (to be paid in two installments, with the second expected to be completed by June 2026) and a stock buyback of $300 million (to be executed within the next 12 months) [2] - The company commits to maintaining a dividend payout ratio of no less than 65% of net profit annually from 2025 to 2027 [2] Group 2: Project Advancement - In terms of capital expenditure, BHP plans to invest approximately $11 billion annually over the next two fiscal years, with a focus on advancing the Jansen potash project in Canada, which is expected to commence production by mid-2027 [3] Group 3: Industry and Risk Analysis - BHP is closely monitoring the merger negotiations between Rio Tinto and Glencore, which could impact the competitive landscape of the industry [4]

2月11日（周三），刚果民主共和国矿业部长Louis Watum Kabamba表示，如果与美国的矿产合作框架不 能带来具体项目，该国将寻找其他合作伙伴。 他称，目前该国矿产资源开采率还不到10%。 （文华财经） "它可能会成为一个很好的大型项目。它也可能成为另一个他们不感兴趣的项目。我们会继续，因为还 有许多其他合作伙伴可以讨论。" 刚果拥有巨量的钴、铜和锂矿藏，2025年12月，该国与美国签署了一项框架协议，旨在为数据中心、国 防和电动汽车使用的关键矿物开发供应链。 "对于那些认为我们会白白把一切卖给美国的人，我必须非常明确地说：我们什么也没卖，也不会白 卖。" "我们与美国所做的一切都是一个框架，我们将在这个框架下讨论共同感兴趣的问题。这就是全部。" ...

Core Insights - The 2026 African Mineral Investment Attractiveness Ranking places the Democratic Republic of the Congo (DRC) at 11th position, down from 5th last year, primarily due to governance issues and a deteriorating business environment [1] Group 1: Ranking Criteria - The ranking is based on five criteria: reserves of 13 key minerals (including bauxite, cobalt, copper, diamonds, iron, graphite, lithium, manganese, gold, nickel, platinum, uranium, and zinc), the number of key metal projects in development, the country's business environment and risks, legal framework and governance, and the level of energy and transportation infrastructure [1] Group 2: Resource Potential - The DRC possesses some of the highest quality reserves of copper, cobalt, lithium, manganese, gold, and diamonds globally [1] - Since 2020, the copper production in the DRC has nearly doubled, largely due to the effective operations of Chinese enterprises, with a high copper grade of approximately 3% and lower extraction costs compared to other countries [1]

美方的棋局已经悄然展开，阿根廷成了这场国际博弈中的重要棋子。明知道自己在与中方较量时难以胜 过，但美方仍然启动了多个策略，试图通过打造一个以美国主导的关键矿产供应链，来挑战中国的主导 地位。阿根廷，则被列入了美国的帮手名单，成为其计划中的一环。然而，阿根廷并非完全听从美国的 指令。相反，在关键矿产领域，阿根廷似乎更倾向于与中方深度捆绑，甚至拒绝参与美国的政治游戏。 最近，在华盛顿举行了一场国际大会，50多个国家的代表齐聚一堂。美国副总统万斯在会上宣布，要建 立一个关键矿产贸易集团，以美国为首，操控关键矿产的定价权和供应链。虽然万斯的话语表达得较为 含蓄，但明眼人都能看出，他的真正目标是瞄准中国。美方希望借此机会，将中国排除在外，牢牢掌控 这一重要资源的命脉。 最后，米莱政府选择两头下注的策略，实际上是出于务实的考虑。与美国签署协议，是为了维护与美方 的外交关系，争取美国在政策上的支持；而与中方的合作，则是阿根廷经济的支柱。在全球大国博弈的 背景下，米莱政府想要确保两边都能得到利益，而不偏向任何一方，这种摇摆策略是很多小国在国际舞 台上的生存法则。 通过这些实际的利益计算，阿根廷的立场显得尤为清晰。基尔诺的声明 ...

Core Viewpoint - MONGOL MINING is transitioning from a single Coking coal producer to a multi-mineral producer, with significant developments in gold and copper mining expected by 2025 [1][2] Group 1: Company Developments - MONGOL MINING's stock price increased by over 15% during trading, currently at 13.45 HKD with a trading volume of 64.33 million HKD [1] - The company has a 50% stake in EM, which has substantial gold resources, and the BKH gold mine is set to commence production in Q4 2025, aiming for an annual capacity of 85,000 ounces by 2026 [1] - The projected gold production from the BKH mine in 2026 is estimated at 76,500 ounces, with a gold price of 5,200 USD/ounce and an all-in sustaining cost (AISC) of 1,200 USD/ounce, potentially contributing 0.97 million USD to net profit attributable to shareholders, accounting for 40% of the 2024 profit [1] Group 2: Financial Outlook - Following the debt restructuring in 2017, the company's balance sheet has gradually improved, with plans to complete the repayment of perpetual securities and high-yield notes between 2023 and 2025, which will further eliminate dividend barriers and reduce financing costs [2] - The company is now in a "low net debt" phase, and with the peak capital expenditure for the BKH project behind, the anticipated profit increase from coal and gold in 2026 may allow for dividend distributions [2] - The forecasted net profit attributable to shareholders for 2026 is 274 million USD, with potential dividend payout ratios of 30% and 50%, leading to dividend yields of 5.2% and 8.7% based on the market capitalization as of February 6, 2026 [2]

Core Viewpoint - Mongol Mining is transitioning from a single coking coal producer to a multi-mineral producer, with significant developments in gold and copper mining expected by 2025 [1][2] Group 1: Company Developments - Mongol Mining's stock price increased by over 15% during trading, currently at 13.45 HKD with a trading volume of 64.33 million HKD [1] - The company has a 50% stake in EM, which has rich gold resources, and the BKH gold mine is expected to commence production in Q4 2025, aiming for an annual capacity of 85,000 ounces by 2026 [1] - The projected output for the BKH gold mine in 2026 is 76,500 ounces, with an estimated gold price of 5,200 USD/ounce and an all-in sustaining cost (AISC) of 1,200 USD/ounce, potentially contributing 9.7 million USD to net profit attributable to shareholders, accounting for approximately 40% of the 2024 profit [1] Group 2: Financial Outlook - Following the debt restructuring in 2017, the company's balance sheet has gradually improved, with plans to complete the repayment of perpetual securities and high-yield notes between 2023 and 2025, which will further eliminate dividend barriers and reduce financing costs [2] - The company is now in a "low net debt" phase, and with the peak capital expenditure for the BKH project behind, the combined profitability from coal and gold in 2026 may allow for dividend distributions [2] - The forecasted net profit attributable to shareholders for 2026 is 27.4 million USD, with potential dividend payout ratios of 30% and 50%, leading to dividend yields of 5.2% and 8.7% respectively based on the market capitalization as of February 6, 2026 [2]

斯里兰卡《每日新闻》2月10日报道，斯政府决定，在新国家矿产政策经内阁批准并提交议会审议 通过之前，暂停除建筑行业相关材料以外的所有矿产采矿许可发放。工业与企业发展部长苏尼尔·汉杜 内蒂（Sunil Handunnetti）在专题新闻发布会上表示，此项决定不会影响砂石等住房和建筑业所必需的 原材料，但对钛铁矿、金红石、锆石、石榴石等重矿物的勘探和开采许可将一律暂停，直至新政策正式 出台。 部长还表示，目前涉及拖欠特许权使用费和非法采矿的案件数量较多。为加强监管和执法，总统已批准 设立"快速突击小组"，以在今后严厉打击相关非法行为。 （原标题：斯里兰卡暂缓发放重矿物采矿许可，待新国家矿产政策出台后再行推进） 针对社会关切，汉杜内蒂强调，现政府任期内未向任何私营机构批准在米里贾维拉地区开采矿砂。 2024年9月发出的相关文件仅涉及运输许可，并非勘探或采矿许可证，网络流传的相关说法不属实。他 指出，过去一段时期内，因滥用政治权力进行非法采矿，国家资源流失情况十分严重。 汉杜内蒂介绍称，政府已制定一项旨在最大化国家矿产资源收益的新国家矿产政策，并已提交内阁 审议，相关实施细则预计将在3月底前以政府公报形式发布，并提交 ...

关键矿产是长期重资产行业，项目从勘探到建设再到投产通常需要数年的时间。如果在此过程中政策发生变化，最受影响的往往不是美国公司，而是 当地的项目现金流和就业。更现实的是，阿根廷不仅仅需要谁来投资，还需要考虑投资后如何销售、如何回款。因此，阿根廷必须确保有多个买家和 多个资金来源，才能在谈判中拥有更多的选择余地：融资能比价，采购能比价，承购能比价，甚至政治风险也能分散。正因如此，阿根廷外长才会强 调，协议并不排除中国。这句话表面看似外交辞令，实则是给市场、企业乃至自身留出后路：对美国说——我给你优先；对中国说——我没有关门； 对国内说——我们不是在冒险，而是在做套利。这实际上体现了阿根廷的战略智慧：我愿意靠近美国，争取增量，但我不能为此牺牲现有的存量，更 不能提前把未来的谈判空间出卖。 在全球关键矿产供应链竞争愈发激烈的背景下，美国正试图联合其他国家，共同挑战中国在这一领域的主导地位。2026年2月4日，美国在华盛顿召集 了50多个国家，召开了关键矿产部长级会议。在会上，美国副总统万斯提出了建立一个由美国主导的关键矿产贸易集团，并拟定了一套价格底线机 制，旨在为这些大宗商品设定价格底线。会后，阿根廷宣布与美国签署 ...

智通财经APP讯，紫金矿业(601899.SH)公告，公司董事会审议通过《公司三年(2026-2028年)主要矿产 品产量规划和2035年远景目标纲要》，明确未来三年主要矿产品产量规划指标，并提出至2035年全面建 成"绿色高技术超一流国际矿业集团"的远景目标。 公司规划，到2028年，公司的资源储量、主要矿产品产量、销售收入、资产规模、利润等综合指标排名 进一步提升，铜、金矿产品产量进入全球前3位，全面建成高度适配且具有紫金特色的全球化运营管理 体系和ESG可持续发展体系;力争到2035年，公司主要指标较2025年实现跨越式增长，部分指标达到全 球首位，全面建成"绿色高技术超一流国际矿业集团"。 ...