Investment Rating - The investment rating for the company is "Buy" (maintained) [2][20] Core Views - The report highlights that the company's production capacity is expected to continue to rise in 2024, with a significant improvement in profitability in Q1 2025 [3][4] - The company achieved a revenue of 42 billion yuan in 2024, a slight decrease of 0.91% year-on-year, while the net profit attributable to shareholders was 1.44 billion yuan, an increase of 2.55% year-on-year [4] - The report anticipates a revenue of 46.5 billion yuan for 2025, with projected production of 90,000 tons of tin, 125,000 tons of copper, and 131,600 tons of zinc [6][7] Summary by Sections Financial Performance - In 2024, the company reported a revenue of 42 billion yuan, with a net profit of 1.44 billion yuan, and a non-recurring net profit of 1.94 billion yuan, reflecting a 40.5% increase year-on-year [4] - For Q1 2025, the company achieved a revenue of 9.73 billion yuan, a 15.8% increase year-on-year, and a net profit of 500 million yuan, a 53.1% increase year-on-year [4][6] Production and Pricing - In 2024, the company produced 84,800 tons of tin, a 6% increase year-on-year, with an average tin price of 248,000 yuan per ton, up 16.9% year-on-year [5] - For Q1 2025, the tin production was 24,200 tons, an 8% increase year-on-year, with an average tin price of 260,800 yuan per ton, a 20% increase year-on-year [6] Profitability Forecast - The report projects net profits for 2025, 2026, and 2027 to be 2.23 billion yuan, 2.42 billion yuan, and 2.56 billion yuan respectively, with corresponding EPS of 1.35, 1.47, and 1.55 yuan [7]

智通财经6月25日电，西部矿业(601168.SH)公告称，公司控股子公司西藏玉龙铜业股份有限公司收到西 藏自治区发展和改革委员会出具的《关于西藏玉龙铜业股份有限公司玉龙铜矿三期工程项目核准的批 复》，核准玉龙铜矿三期工程项目，铜矿生产规模由1989万吨/年增加至3000万吨/年。项目总投资47.93 亿元，项目建设内容包括新建1100万吨/年选矿厂，湿法冶炼规模由30万吨/年增加至100万吨/年。随着 三期项目建成投产，预计生产规模将达到3000万吨/年，铜金属量将达到18-20万吨/年，公司整体矿产铜 规模进一步增加。但项目建设尚需取得其他有关部门的相关手续，且存在自然地理环境恶劣的风险，可 能存在项目建设不及预期的风险。 西部矿业：玉龙铜矿三期工程项目获核准批复 总投资47.93亿元 ...

近日，隆化县林业和草原局公布一份行政处罚决定书，对隆化县新村矿业有限公司未经批准、长期非法占用林地和草地的违法行为作出严厉处罚，罚款金额 312156元，并责令其限期恢复被破坏的植被。 经隆化县林业和草原局依法查明，新村矿业有限公司在2021年5月至2023年底期间，在未取得县级以上人民政府主管部门审核同意的情况下，擅自在隆化县 韩麻营镇小乌苏沟村二道沟阴阳坡区域堆渣。非法占用一般商品林林地0.52公顷（7.8亩）：经专业鉴定，恢复该区域植被和林业生产条件所需费用为104052 元。非法占用其他草地0.984公顷（14.76亩）：经鉴定，该地块近三年平均总产值为1107元。调查取证过程中，执法人员获取了详实的询问笔录、现场勘 验、检查笔录及照片、调查意见书以及当事人身份证明等证据，确证了其违法事实。 新村矿业有限公司的行为，同时违反了《中华人民共和国森林法》第三十七条第一款关于占用林地需经审核批准的规定，以及《中华人民共和国草原法》第 三十八条关于严格保护草原植被、禁止非法占用的规定。 依据《中华人民共和国行政处罚法》第二十九条关于"同一个违法行为违反多个法律规范应当给予罚款处罚的，按照罚款数额高的规定处罚" ...

Core Viewpoint - The company, Tibet Huayu Mining Co., Ltd., has responded to the regulatory inquiry regarding its 2024 annual report, addressing concerns about its financial practices, particularly related to interest expenses and related party transactions [1][2]. Financial Performance - As of the end of the reporting period, the company's cash balance was 298 million yuan, representing a year-on-year increase of 70.29% [2]. - The company had interest-bearing liabilities totaling 506 million yuan, with interest expenses of 69.28 million yuan, significantly exceeding interest income of 2.02 million yuan, indicating a high average interest rate of approximately 9% on liabilities compared to an average return of 1.2% on cash [2]. Related Party Transactions - The company has provided financial assistance to its subsidiary, Tal Aluminum Industry, involving a non-controlling shareholder, Tajik Aluminum Company, with a cumulative amount of 9.39 million yuan and a year-end balance of 10.41 million yuan [2]. - The company clarified the background of transactions with Tajik Aluminum Company, including the interest rate of 13% on a loan of 1.35 million USD for a one-year term, which was approved by the board of directors [4][5]. Compliance with Regulations - The company stated that the decision-making and disclosure processes for the financial assistance provided to Tajik Aluminum Company complied with the Shanghai Stock Exchange's regulations and internal governance rules [6][10]. - The loan amount of 1.36 million somoni in 2024 represented 0.3241% of the company's audited net assets, thus not requiring shareholder meeting approval [9][10]. Internal Control and Audit - The company maintained effective internal controls over financial reporting as of December 31, 2024, according to the internal control evaluation report and the audit report from the accounting firm [10].

6月24日，山东黄金股票收盘大跌2.13%，天眼查工商信息显示，山东黄金矿业股份有限公司成立于2000年，位于济南市，是一家以从事有色金属矿采选业 为主的企业。企业注册资本447342.9525万人民币，法定代表人为李航。 数据显示，华泰柏瑞基金旗下华泰柏瑞沪深300ETF为山东黄金前十大股东，今年一季度减持。今年以来收益率0.09%，同类排名2037(总3426)。 | 阶段涨幅 | 李度涨幅 年度涨幅 | | ■ 下载天天基金手机版,随时查 | | | | --- | --- | --- | --- | --- | --- | | | 近1周 | 近1月 | 近3月 | 近6月 | 今年来 | | 阶段涨幅 | 1.00% | 1.02% | -0.09% | -1.12% | 0.09% | | 目举平均等 | -0.85% | 0.6196 | -1.98% | 0.99% | 1.839 | | 沪深300 | 0.87% | 0.56% | -0.78% | -2.00% | -0.78% | | 跟踪标的? | 0.87% | 0.56% | -0.78% | -2.00% | -0.78% | ...

美银证券近期举办了人工智能资本支出论坛。与数据中心专家、上海金属网铜行业专家、紫金矿业 （601899）和安徽海螺水泥（600585）进行了交流。 中国人工智能资本支出超5000亿元，数据中心市场同比增长20% 数据中心专家预计，2025年中国人工智能资本支出将超过5000亿元。对于互联网数据中心(IDC)和人工 智能数据中心(AIDC)，机房建设成本分别占资本支出的30%和18%。柴油发电机、IT设备和冷却系统分 别占资本支出的15-18%、45%和20%。 他认为，在中国数据中心市场中，受人工智能数据中心(AIDC)的推动，市场规模同比增长20%，主要增 长区域为华东、内蒙古和华北地区，而互联网数据中心(IDC)的增长可能放缓。 海螺水泥：需求疲软；在人工智能模式上积极探索 海螺水泥4-5月产量为75万吨/日，同比下降8%，6月产量因雨季预计为70万吨/日。 海螺水泥预计，由于房地产市场疲软以及地方政府资金紧张导致基础设施项目延迟，2025年中国水泥需 求将同比下降5-7%。6月平均售价(ASP)降至255-260元/吨。 铜行业专家：供应紧张但2025年需求预计同比增长4% 专家认为，2025年中国铜需 ...

Core Viewpoint - The recent auction of approximately 1,000 tons of gold concentrate by Baodi Mining's subsidiary marks a significant milestone in the company's multi-mineral development strategy, reflecting the market's recognition of its resource value and potential [1][2]. Group 1: Auction and Market Response - Baodi Mining's subsidiary successfully auctioned 1,000 tons of gold concentrate at a competitive bidding coefficient of 93.2%, significantly higher than the starting coefficient of 82%, indicating strong market demand [1]. - The auction results demonstrate the market's recognition of the quality of Baodi Mining's gold concentrate products, particularly highlighting the resource potential of the Hasiatu polymetallic mine [2]. Group 2: Resource and Strategic Development - Baodi Mining acquired 100% equity of Qinghai Hasiatu Mining Co., Ltd. in 2022, gaining mining rights to the Hasiatu polymetallic mine, which has begun trial operations as of the end of 2024, accelerating the release of its resource value [1]. - The company controls iron ore resources amounting to 380 million tons, along with gold resources of 9,578.58 kilograms from the Hasiatu mine, establishing a robust multi-mineral resource reserve system [1]. - The average grade of iron ore from Baodi Mining's mines exceeds national standards, with the Hasiatu mine's iron ore averaging 36.77% and gold averaging 4.10 g/t, showcasing the high-quality resource endowment [2]. Group 3: Future Growth and Strategic Expansion - Baodi Mining plans to invest 685 million yuan to acquire 87% of Xinjiang Congling Energy Co., significantly increasing its iron ore resources to approximately 460 million tons, a 21.75% increase [3]. - The multi-mineral strategy is expected to mitigate risks associated with industry cycles and create a second growth curve through diversification of resource categories, enhancing the company's competitive edge in the mining market [3].

内蒙古兴业银锡矿业股份有限公司 关于召开 2024 年年度股东大会的提示性公告 证券代码：000426 证券简称：兴业银锡 公告编号：2025-52 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"）分别于2025年6月 报》及巨潮资讯网上刊登了《兴业银锡：关于召开2024年年度股东大会的通知》 （公告编号：2025-45）、《关于2024年年度股东大会增加临时提案暨股东大会 补充通知的公告》（公告编号：2025-50）。本次股东大会采取现场投票与网络 投票相结合的方式召开，现将本次股东大会的有关事宜提示如下： 一、召开会议的基本情况 公司于2025年6月9日召开的第十届董事会第十八次会议以9票同意，0票反对， 法规、部门规章、规范性文件和公司章程的规定，会议的召开合法、合规。 （1）现场会议时间：2025年6月30日（星期一）下午14:30； （2）互联网投票系统投票时间：开始时间2025年6月30日（现场股东大会召 开当日）上午9:15，结束时间为2025年6月30日（现场股东大会结束当日）下午 （3）交易系统 ...

洛阳钼业回应刚果(金)钴出口禁令延长：当地矿区生产运营活动正常进行 金十数据6月23日讯，刚果(金)战略矿产市场监管控制局6月21日宣布，将今年2月出台的刚果(金)钴出口 禁令继续延长三个月。针对此事，全球最大钴生产商洛阳钼业于6月23日回应称，目前，公司TFM及 KFM矿区生产运营活动正常进行，预计该临时禁令的延长不会对经营业绩产生重大影响。该公司同时 表示："自首次禁令发布以来，公司始终与刚果(金)政府及行业管理机构保持密切沟通。针对新的情 况，公司将继续保持与相关各方的沟通，密切跟踪政策进展。" （界面） ...

锡业股份（000960）披露最新一期投资者关系活动记录表显示，公司于6月19日接待长江证券、博时基 金现场调研并回应有关提问。 招商证券研报直言：需求端来看，全球军工产业的快速扩张正显著拉动钨需求。中国军工现代化进程的 加速与欧美国家军事援助规模的扩大，共同推动钨在防务领域的应用持续升级。目前产业链处于钨矿紧 +需求底+库存底的情况，若需求复苏，有望带动钨价进一步上涨。（龚璨） 就公司钨矿资源储备与产能有关提问，公司方面直言：截至 2024年底，公司三氧化钨保有资源储量为 7.78万吨。目前公司已获得云南省自然资源厅2025年度第一批钨矿（三氧化钨65%）开采总量配额指标 688吨，公司将根据云南省自然资源厅2025年钨矿开采总量控制指标及相关规定组织生产和销售。 据介绍，锡业股份2025年一季度主要产品锡、铜、锌等金属市场价格同比上涨，公司抢抓市场机遇，充 分释放产能，不断提升采、选、冶协同能力，经营业绩同比大幅提升。 全景网了解到，受到我国钨出口管制升级及开采配额压降等多方因素影响，今年以来钨价始终保持高位 运行态势，现货市场延续偏紧行情，当前黑钨精矿（≥65%）报价已经突破17万元/吨。 2025年一季 ...