Core Viewpoint - Zijin Mining has announced significant changes in its board of directors, marking a transition from founder-driven leadership to a system-driven approach, as the long-time leader Chen Jinghe steps down due to age and family reasons [2][9]. Group 1: Leadership Transition - Chen Jinghe, the founder and key figure behind Zijin Mining, will not accept nomination for the ninth board of directors due to age and family reasons, despite efforts from the controlling shareholder and board to retain him [2][4]. - The board has proposed to appoint Chen Jinghe as the lifetime honorary chairman and senior advisor, recognizing his contributions and aiming to preserve the company's innovative culture [2][4]. Group 2: Company Performance - Zijin Mining's performance is notable, with copper production accounting for 65% of China's total and gold production for 24% [6]. - The company ranks 267th in the Forbes Global 2000 and 364th in the Fortune Global 500, highlighting its significant market position [6]. Group 3: New Board Candidates - The ninth board of directors' non-independent candidates list includes seven nominees, primarily consisting of long-time associates of Chen Jinghe, indicating a strong internal succession plan [7][8]. - Key candidates include Zou Laichang, the current vice chairman and president, who has extensive experience in management and mining engineering [7][8]. Group 4: Governance Changes - The company plans to abolish the supervisory board and introduce an audit and supervision committee within the board to comply with new corporate laws and regulations [9]. - Seven independent director candidates have been nominated, bringing diverse backgrounds and expertise to the board [9].

Group 1 - Airbus A320 aircraft require urgent software replacement due to vulnerability to solar radiation, affecting approximately 6,000 planes, following an incident involving JetBlue Airlines [2] - Changan Automobile's subsidiary, Avita Technology, has applied for a public listing on the Hong Kong Stock Exchange, focusing on high-end smart connected electric vehicles [3] - SolGold Plc has rejected a second acquisition offer from China Molybdenum, with the latest bid at 26 pence per share, leading to a significant increase in SolGold's stock price [4] Group 2 - Sohu Video plans to increase procurement of American TV shows and movies, aiming to provide a better experience for users seeking non-pirated content, despite current profitability challenges [5] - GSMA reports that global mobile operators' cybersecurity spending is projected to double from $15-19 billion annually to $40-42 billion by 2030, highlighting the need for better regulatory collaboration [7] - Samsung has dissolved its HBM development team, integrating it back into the DRAM division, indicating challenges in the high-bandwidth memory market [8] Group 3 - Xiahe Technology has initiated IPO counseling with CITIC Securities, aiming for a public offering [9] - DeepSeek has launched a new mathematical reasoning model, DeepSeekMath-V2, which utilizes a self-verifying training framework and has achieved high scores in competitive evaluations [10] - Xiaomi faced a legal setback in a case regarding unreturned deposits for undelivered cars, with the court ruling against the company's contract terms [11] Group 4 - Citigroup analysts suggest that Li Ning is unlikely to acquire foreign brands in the near term due to its current business strategy, maintaining a "buy" rating on several Chinese sportswear stocks [12] - JD.com announced changes to its JD Bean rules, with a maximum validity of 180 days starting in 2026 [13]

受印尼和智利矿场事故等供应中断因素影响，加之未来数年需求增速加快，市场对铜供应短缺的预期推 动LME铜价于10月29日攀升至每吨11,200美元的历史高位。 在纽约商品交易所，铜价于7月24日创下每磅5.8950美元（合每吨12,996美元）纪录高位，当时美国尚未 宣布是否对电力和建筑行业使用的铜材征收进口关税。 11月28日（周五），行业人士称，智利国有铜业公司Codelco向美国客户提供的铜溢价创历史新高，每 吨较伦敦金属交易所（LME）溢价500美元以上。 精炼铜最终获得豁免，免于8月1日生效的50%进口关税。 该溢价在基准LME铜价基础上追加支付，反映供需基本面状况，同时涵盖运输费、税费等成本。 随着美国铜进口关税政策仍在审议中，Comex铜价此后持续回落。商务部长Howard Lutnick将于2026年6 月底前向特朗普提交国内铜市最新报告。 （文华综合） ...

Core Viewpoint - The expectation of a Federal Reserve interest rate cut has led to a strong performance in the stock market, with major U.S. indices recording five consecutive days of gains, particularly in technology stocks and commodities [1][2]. Group 1: Stock Market Performance - Major U.S. indices closed higher for the fifth consecutive trading day, with the Dow Jones up 0.61% to 47,716.42 points, the S&P 500 up 0.54% to 6,849.09 points, and the Nasdaq up 0.65% to 23,365.69 points [3]. - For the week, the Dow Jones rose 3.18%, the S&P 500 increased by 3.73%, and the Nasdaq gained 4.91%. In November, the Dow Jones saw a cumulative increase of 0.32%, the S&P 500 rose by 0.13%, while the Nasdaq fell by 1.51% [5]. Group 2: Technology Stocks - Large technology stocks generally rose, with Meta gaining over 2%, Amazon up more than 1%, and Microsoft increasing by over 1%. Intel saw a significant rise of over 10% following positive analyst predictions [5][8]. - The Philadelphia Semiconductor Index rose by 1.82%, with notable gains in semiconductor stocks such as Intel, which surged over 10%, and Micron Technology, which increased by over 2% [5]. Group 3: Intel and Apple Collaboration - Analyst Ming-Chi Kuo predicts that Intel may start shipping Apple's entry-level M-series processors as early as 2027, following a recent increase in the likelihood of Intel becoming a supplier for Apple's advanced process technology [6][9]. - Apple has reportedly signed a confidentiality agreement with Intel and is awaiting the release of the PDK 1.0/1.1 in early 2026, which will determine the timeline for production [9]. - The expected shipment volume for the standard M chips, primarily used in MacBook Air and iPad Pro, is around 20 million units for this year, with projections of 15 to 20 million units for the low-end M-series chips in 2026 and 2027 [9]. Group 4: Commodity Market Performance - The commodity market continued its upward trend, with spot gold prices rising above $4,200 per ounce, reaching a near two-week high, and spot silver prices breaking the $55 per ounce mark, setting a new historical high [1][11]. - Silver prices have increased for seven consecutive months, with spot silver closing at $56.397 per ounce, up 5.66%, and COMEX silver futures rising by 6.06% to $57.085 per ounce [11].

当地时间11月28日，总部位于厄瓜多尔的矿业公司SolGold发表公告称，该公司已拒绝中国江西铜业公 司提出的初步有条件不具约束力的收购要约。SolGold表示，江西铜业本次要约提出拟以每股26便士的 价格现金收购公司全部已发行及拟发行普通股。此前，SolGold董事会曾于11月23日一致拒绝过江西铜 业提出的另一份不具约束力要约。江西铜业目前已经是SolGold最大的股东，持有其12%的股份。（智 通财经） ...

《曙光报》11月24日报道，阿尔及利亚油气和矿业部国务秘书塔菲尔在出席阿尔及利亚地质国际科 学研讨会时表示，发展地质领域的科学研究是阿尔及利亚当前促进经济多元化、突出矿业领域战略的核 心要素。塔菲尔称，阿国家矿业发展战略基于四大支柱，一是更新法律和监管框架，确保投资的效率和 透明度；二是科学开发矿产资源，按照现代科学技术标准进行勘查与开采；三是发展矿业加工产业链， 创造本地附加值；四是采用可持续发展方式，兼顾生态环境与地质平衡。她强调，必须加强高校与经济 部门之间的联系，鼓励应用研究，推动企业与研究实验室建立合作伙伴关系，促进知识和先进技术转 移。 （原标题：发展地质研究是阿尔及利亚矿业战略核心） ...

Group 1 - The Mauritanian government, led by President Ghazwani, approved several important laws and decrees related to energy, healthcare, education, and regional development [1] - A financing contract was signed between Mauritania and the European Investment Bank (EIB) for the "Mauritania Regional Power Corridor" project, which includes the construction of a 1,189 km high-voltage transmission line to enhance electricity coverage and supply security [1] - The EIB will provide €90 million in a 30-year loan with a 10-year grace period at an interest rate of 4.147%, while the EU will contribute €33.82 million in grants, with total project investment exceeding €800 million [1] Group 2 - Two financing agreements with the Islamic Development Bank were approved to support the expansion of the Nouakchott National Heart Center, aimed at addressing the growing demand for cardiovascular disease treatment [2] - A decree was passed requiring mining companies to increase the share of renewable energy by at least 5% annually until 2030, with a joint supervisory committee established for annual assessments [2] - A decree was issued to define the geographical boundaries and land management rules of the Nouadhibou Free Trade Zone, implementing the 2024 Free Trade Zone Law [2]

Market Overview - US stock markets collectively rose, with the Dow Jones up 0.29%, Nasdaq up 0.39%, and S&P 500 up 0.26% [1] Company Updates - Google's stock increased by nearly 1% as CEO Sundar Pichai announced plans to send TPU to space by 2027 [3] - Oracle's stock fell over 3% amid discussions with multiple banks for a $38 billion loan for Oracle and data center builder VANTAGE [3] Sector Performance - Storage sector stocks saw a collective rise, with SanDisk up over 4%, Micron Technology up 2.8%, and Western Digital up 2%, driven by a worsening global shortage of storage chips and a forecasted 50% price increase [4] - Chinese concept stocks generally rose, with Bawang Tea up over 4% and Pony.ai up over 3%, while Canadian Solar fell nearly 2% [5] Commodity Market - Spot gold reached $4200 per ounce, up 1.03% for the day, while spot silver rose 3% to $55 per ounce, setting a new record high due to multiple favorable factors including expectations of a Fed rate cut in December and tight supply conditions [6] - LME copper prices surged by 2.5%, reaching a new high of $11,210 per ton [7] Cryptocurrency Market - Bitcoin rose to $92,324.6, gaining 1.68% in the past 24 hours, while Ethereum increased to $3,074.75, up 2.64% in the same period [8]

Group 1 - US stock market collectively rose on November 28, with major indices showing positive performance [1][9] - Google shares increased by nearly 1%, with CEO Sundar Pichai expressing plans to send TPU to space by 2027 [3] - Oracle shares fell over 3%, while several banks are negotiating to provide storage solutions to Oracle and data center builder VANTAGE [3] Group 2 - Chinese concept stocks generally rose, with Bawang Tea increasing over 4% and Pony.ai rising more than 3% [4] - Spot gold reached $4200 per ounce, up 1.03% for the day, while silver surged to $55 per ounce, marking a 3% increase [5] - Silver prices are supported by expectations of a Federal Reserve rate cut in December, inflows into silver ETFs, and ongoing supply constraints [5] Group 3 - LME copper prices rose by 2.5%, reaching a new high of $11,210 per ton [6] - Bitcoin increased to $92,324.6, up 1.68% in the past 24 hours, while Ethereum rose to $3,074.75, up 2.64% [7]

智通财经APP获悉，香港联交所最新数据显示，11月24日，贝莱德增持资金矿业(02899)1040.3464万股，每股作价30.4861港元，总金额约为3.17亿港元。增 持后最新持股数目约为4.79亿股，持股比例为8%。 ...