来源：WBUR 随着印尼当局加紧通过减少供应来提振全球价格，全球最大的镍矿正面临被政府大幅削减许可产量的命运。 来源：环球零碳 据知情人士透露，世界最大的镍矿PT Weda Bay Nickel已被告知今年将获得1200万吨的矿石生产配额，远低于2025年的4200万吨，降幅高达71%， 远超市场预期。 此次大幅削减配额将直接影响其原定扩产至6000万吨以上的计划，进而冲击依托该矿发展的相关工业园区供应，这将将迫使企业及其股东不得不 重新评估其投资与生产战略。 配额从4200万吨骤降至1200万吨，意味着该矿年产出将大幅收缩，这一调整可能显著改变全球镍市场的供需格局，尤其在电动汽车电池等领域需 求持续增长的背景下。 这座位于北马鲁古省哈马黑拉岛的矿山由青山控股集团、法国埃拉麦特（Eramet SA）和印尼安塔姆（PT Aneka Tambang）共同拥有。 印尼能源与矿产资源部的一位发言人表示，配额仍在评估之中，而Weda Bay Nickel的代表未回应置评请求。此外，青山控股和安塔姆也未回复置 评请求。 印尼一直在采取激烈措施以推高其最大出口商品——镍的价格，主要手段是大幅削减关键矿商的产量。在最新一轮产 ...

Group 1 - Van Eck Associates Corporation increased its stake in China General Nuclear Power Corporation (01164) by 1.44 million shares at a price of HKD 4.18 per share, totaling approximately HKD 6.0192 million [1] - Following the increase, the total number of shares held by Van Eck Associates is approximately 381 million, representing a holding percentage of 5% [1]

Group 1 - The company, Tibet Mining, stated that it is not involved in the equity transfer of the Nimugang Copper Mine [2] - The company emphasized that any significant matters should be referred to official company announcements [2]

Core Viewpoint - China National Gold Group Corporation and China Nonferrous Metal Mining Group Co., Ltd. signed a strategic cooperation framework agreement, aiming to enhance collaboration in mineral resource exploration, logistics trade, technological innovation, and engineering construction [2][3] Group 1: Strategic Cooperation - The signing ceremony was attended by key leaders from both companies, highlighting the long-standing relationship and mutual support between them [2] - Both companies are central enterprises with significant roles in promoting the internationalization of China's non-ferrous metal industry and contributing to the Belt and Road Initiative [2] - The cooperation is expected to leverage each company's strengths to improve the resilience and security of China's industrial and supply chains [2] Group 2: Company Contributions - China National Gold Group has established important mineral resource production bases in gold, copper, and molybdenum, enhancing the supply capacity of strategic mineral resources for the country [2] - China Nonferrous Metal Mining Group has shown continuous improvement in operational performance and development quality, focusing on practical cooperation in various fields [3] - Both companies aim to set a new benchmark for cooperation among central enterprises and contribute to China's modernization efforts [3]

Group 1: Company Overview and Mining Resources - The company has significant rare metal resources, including 32.01 tons of gallium, 43,276 kg of rhenium, 156 tons of indium, and 47 tons of gallium across various mining sites [1][2][3] - The remaining service life of the company's operational mines is over 10 years, with the Erentao Legai silver mine having over 20 years [2] Group 2: Future Production and Capacity Expansion - The company anticipates increased metal production following the commissioning of the Honglin Mining Caiyuanzi copper-gold mine and the completion of the 250,000 tons/year mining project at the Dongsheng Mining Bayannur silver polymetallic mine [3][4] - The production capacity of Jinshan Mining is expected to gradually increase to 480,000 tons/year, contributing to higher silver and gold output [3] Group 3: Capital Expenditure and Financial Management - Future capital expenditures will focus on the development of several mining projects, including the Deyun Mining Bayannur polymetallic mine and the Yichun Jinshi 460 highland copper-molybdenum mine [8] - The company plans to finance its mining construction and acquisitions through stable cash flow and may seek additional financing based on future funding needs [8] Group 4: Cost and Revenue Management - The mining product costs for 2025 are expected to remain stable compared to 2024, with increased sales revenue due to rising metal prices [9] - The company will determine specific sales timing for silver and gold products based on macroeconomic conditions and future expectations [7] Group 5: Dividend and Acquisition Strategy - The company will develop a reasonable dividend plan considering industry characteristics, operational model, profitability, and investor returns [10] - Following the acquisition of a 60% stake in Yichun Jinshi Mining, the company may consider acquiring the remaining 20% stake in the future [11]

已披露公司中近6成公司净利润实现同比增长。 2025年，黄金的避险与货币属性在全球地缘政治摩擦频发和主要经济体降息预期的推动下愈加显现，黄 金价格屡创新高，这直接增厚了拥有巨量黄金储备的企业的利润。此外，有色行业规模以上企业工业增 加值增长6.9%，高于全国规上工业增加值增速1.0个百分点，十种有色金属产量首次突破8000万吨大 关。规模以上企业实现利润总额5284.5亿元，同比增长25.6%，创下历史新高。下游新兴产业发展拉动 铜、铝等大宗金属消费需求，以新质生产力为核心的需求推动行业产品结构向高附加值领域升级。 龙头公司普遍呈现"量价共振"特征：一方面，主要矿产品产量提升；另一方面，金、铜、钴、锂等价格 因素对盈利带来显著增厚。如紫金矿业报告期主要矿产品产量同比增加，其中矿产金约90吨、矿产铜约 109万吨、矿产银约437吨、当量碳酸锂约2.5万吨。2月9日早间，紫金矿业发布2026-2028年主要矿产品 产量规划，计划到2028年将其矿产金产量提升至130-140吨，矿产金进入全球前三位。受益于金、银、 铜的价格持续上升，紫金矿业预计2025年实现归母净利润510-520亿元，同比增加59-62%。 河 ...

在供应紧张成为市场常态的当下，选对赛道就成功了一半。 紫金矿业作为卡位铜、金、锂这三大兼具长期需求和供给刚性核心品种的巨头企业，确实很好契合了这一轮行业价值重 估的大逻辑。 2026年2月，高盛集结13家亚洲大宗商品巨头，召开了一场关乎未来5年资源格局的闭门会议。 会后，高盛很快发出研报点出，当下全球大宗商品市场已经进入结构性的供应约束时代，在资源品位下降、地缘政策干 预等因素叠加下，金铜锂这类的战略金属的价值重估已经开启。 其中，有"金铜双冠王"的之称的紫金矿业被高盛给出了A/H股双买入评级，目标价分别到50元/股、52港元/股，以表示明 确的长期看好。 那为什么高盛要长期看好紫金矿业？ 简单来看，就是看好在它在这场全球资源控制权的争夺战里，有着清晰的产能规划、很强的成本控制和超前的全球布 局，因而未来业绩稳健增长有很高的确定性。 01 先说黄金，作为地缘局势紧张、货币通胀、去美元化浪潮下的硬通货，黄金的长期看涨逻辑堪称扎实： 一方面，全球央行购金潮持续发酵，且95%的央行计划未来12个月继续增持，黄金成为各国"去美元化"的核心工具； 另一方面，2026年全球地缘格局持续紧张，即便美债实际收益率、美元指数出 ...

Core Viewpoint - Goldman Sachs has initiated a long-term bullish outlook on Zijin Mining, citing its clear capacity planning, strong cost control, and proactive global layout as key factors for stable future growth in the context of a structural supply constraint era in the global commodity market [3][4]. Group 1: Market Dynamics - The global commodity market is entering a structural supply constraint era due to declining resource grades and geopolitical interventions, leading to a revaluation of strategic metals like gold, copper, and lithium [3][4]. - Gold is viewed as a solid long-term investment due to ongoing central bank purchases, with 95% of central banks planning to increase their gold holdings in the next 12 months, making it a core tool for "de-dollarization" [5]. - Forecasts for gold prices in 2026 have been raised by major institutions, with Goldman Sachs projecting $5,400 per ounce, while JPMorgan and UBS have set targets of $6,200 to $6,300 per ounce [6]. Group 2: Copper and Lithium Outlook - The global copper deficit is expected to reach 330,000 tons by 2026, driven by supply constraints from major producing countries and increasing demand from the renewable energy and AI sectors [7]. - Lithium demand is projected to surge due to the growth of energy storage and electric vehicles, with a market gap of approximately 90,000 tons anticipated in 2026 [9]. Group 3: Zijin Mining's Strategic Position - Zijin Mining is strategically positioned in the copper, gold, and lithium markets, with ambitious production targets for 2026: 1.2 million tons of copper (up 110,000 tons YoY), 105 tons of gold (up 15 tons YoY), and 120,000 tons of lithium (five times 2025's output) [9][10]. - The company has initiated aggressive capacity expansion plans, focusing on resource-rich regions in Africa and Central Asia, ensuring a strong foothold in core resources [10]. Group 4: Cost Control and Efficiency - Zijin Mining has demonstrated superior cost control, with cash costs for copper at approximately 40,000 to 60,000 yuan per ton, which is 15% lower than the industry average [14]. - The company's gold production costs are around $1,000 per ounce, 30% lower than the industry average, showcasing its efficiency in operations [14]. Group 5: Financial Performance and Future Projections - Zijin Mining is expected to achieve a return on equity (ROE) of 36% by 2026, with a projected net profit of approximately 51 to 52 billion yuan for 2025, reflecting a significant year-on-year growth of 59% to 62% [16]. - The company has set ambitious production goals for 2028, aiming for 130 to 140 tons of gold and 270,000 to 320,000 tons of lithium, indicating a strong growth trajectory in the coming years [17].

欢迎扫描下方二维码关注： 为做好厦门市2025年度属期 矿业权出让收益 自行申报缴费工作，现将有关事项温馨提醒如下： 一、申报缴费时间 2025年度属期矿业权出让收益自行申报及缴款期限为 2026年2月28日 。 二、申报缴纳方式 1.全国统一规范电子税务局 2.主管税务机关办税服务厅 三、电子税务局操作流程 0 1 登录电子税务局，依次点击 【我要办税】-【税费申报及缴纳】-【非税收入申报】-【非税收入通用申报（主管部门核 定）】 功能菜单。 | 全国统一规范电子视务局 2011 Total | 商票 | 我要心眼 我要意闻 公众服务 地方精色 | | | | --- | --- | --- | --- | --- | | 質量の積 | 请电入失键词 | 图 (1) 10.00) 移动发入贵阳 .. | 移程发入测网 ... | × | | 乐企数字开放甲台 | 单超贸士全同馆的让财产事项发生 | 跨境交易合同信息管理 | 税定任收企业所得税量大安全程值 | | | 即合值电视台 | 对外形象成电路产业企业所带和优惠基层资。 | 预测时间费费数据三角 | 食保管理念金温人会找人用得分配情况来源 | | | ...

随着印尼当局加紧通过减少供应来提振全球价格，全球最大的镍矿正面临被政府大幅削减许可产量的命 运。 据知情人士透露，世界最大的镍矿PT Weda Bay Nickel已被告知今年将获得1200万吨的矿石生产配额， 远低于2025年的4200万吨。这座位于北马鲁古省哈马黑拉岛的矿山由青山控股集团、法国埃拉麦特 （Eramet SA）和印尼安塔姆（PT Aneka Tambang）共同拥有。 印尼能源与矿产资源部的一位发言人表示，配额仍在评估之中，而Weda Bay Nickel的代表未回应置评 请求。此外，青山控股和安塔姆也未回复置评请求。 印尼一直在采取激进措施以重振其最大出口大宗商品的价格，主要手段是缩减主要矿商的获准产量。在 最新一轮减产之前，这个东南亚国家的供应量已激增至全球产量的65%，导致价格经历了两年的暴跌， 并迫使澳大利亚和新喀里多尼亚的竞争对手关停业务。 当局通过签发年度许可证（当地称为RKAB）来控制矿商的产量。拟定的全年产量可在年中进行调整， 这意味着最终的产量可能与最初的数字有所出入。 上个月镍价反弹，此前印尼暗示计划将今年的矿产量削减至约2.6亿吨，低于2025年设定的3.79亿吨目 标 ...