Core Viewpoint - Zijin Mining has announced a significant reduction in copper production guidance for its Kamoa-Kakula copper mine in the Democratic Republic of Congo due to flooding caused by damaged underground pumping facilities, impacting the company's overall revenue and profit expectations for 2025 [2][5][6]. Group 1: Production Impact - The Kamoa-Kakula copper mine's production guidance for 2025 has been revised down from 520,000-580,000 tons to 370,000-420,000 tons due to flooding in the eastern section of the mine [2][5]. - The company expects a corresponding reduction in its copper equity production for 2025 by 44,000 to 93,000 tons [6][7]. - The mine experienced multiple seismic events leading to structural failures, which contributed to the flooding [3][4]. Group 2: Financial Implications - The Kamoa-Kakula mine is projected to contribute approximately 1.72 billion RMB to Zijin Mining's net profit in 2024, accounting for about 5.37% of the company's total net profit [4]. - The overall revenue and profit expectations for Zijin Mining in 2025 are likely to be negatively affected due to the production cut at the Kamoa-Kakula mine [6][7]. Group 3: Market Context - In 2024, Zijin Mining achieved a revenue of 303.64 billion RMB, with copper sales accounting for 27.98% of this revenue [6]. - The company is one of the top copper producers globally, with a production growth rate of 24% over the past five years [6]. - The global copper market is experiencing a tight balance between supply and demand, with rising prices driven by increased demand from both developed and developing economies [7][8]. Group 4: Strategic Developments - Zijin Mining is establishing a joint venture with Ajilan Brothers Mining Company in Saudi Arabia to explore and potentially mine mineral resources, including zinc, copper, and gold [8][11]. - The joint venture will be controlled jointly by Zijin Mining and Ajilan Mining, with Zijin holding a 51% stake [11].

Group 1: Company Overview - Yunnan Tin Company has a comprehensive supply chain integration in the exploration, mining, selection, smelting, deep processing, and new material research of non-ferrous metals such as tin, indium, zinc, and copper [1] - As of the end of 2024, the company holds tin reserves of 626,200 tons and indium reserves, ranking first globally in both tin and indium resource reserves [1] - The company achieved a total production of 82,200 tons of non-ferrous metals in Q1 2025, including 24,200 tons of tin, 24,400 tons of copper, and 33,300 tons of zinc [2] Group 2: Financial Performance - The company reported an operating income of 9.729 billion yuan, a year-on-year increase of 15.82% [2] - The net profit attributable to shareholders reached 499 million yuan, reflecting a significant year-on-year growth of 53.08% [2] Group 3: Resource Expansion and Investment Plans - The company emphasizes resource expansion as a long-term development strategy, with a focus on geological research and mineral exploration activities [3] - In 2024, the company discovered additional tin reserves of 17,600 tons and copper reserves of 34,800 tons [3] - Future plans include enhancing resource security and sustainable development through both internal and external resource expansion efforts [3] Group 4: Tungsten Resource Management - As of the end of 2024, the company has tungsten oxide reserves of 77,800 tons [4] - The company has received a quota of 688 tons for tungsten mining in 2025, which will be organized according to provincial regulations [4] Group 5: Market Conditions and Company Strategies - Global tin supply remains tight due to slow recovery in Southeast Asian tin-producing countries and temporary shutdowns in African countries [5] - The company is implementing lean management practices to control costs and enhance operational efficiency [6] - Ongoing share repurchase plans are in progress, with a focus on enhancing shareholder value through increased cash dividends and share buybacks [6] Group 6: Value Management Initiatives - The company has established a value management system in 2024 to enhance performance and value creation [6] - Efforts include improving information disclosure quality and strengthening investor communication to convey investment value [6]

证券代码：000426 证券简称：兴业银锡 公告编号：2025-50 内蒙古兴业银锡矿业股份有限公司 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 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"）于2025年6月10日 在巨潮资讯网（www.cninfo.com.cn）上披露了《关于召开2024年年度股东大会 的通知》（公告编号：2025-45）。公司定于2025年6月30日以现场与网络投票相 结合的方式召开公司2024年年度股东大会。 一、增加临时提案的情况 （以下简称"兴业集团"）递交的《关于增加内蒙古兴业银锡矿业股份有限公司 漫矿业融资提供担保的议案》作为临时提案提交公司2024年年度股东大会审议。 （一）提案内容 六次会议审议通过了《关于公司及子公司为银漫矿业融资提供担保的议案》，具 体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）上披露的《兴业银锡: 第十届董事会第十九次会议决议公告》（公告编号：2025-47）、《兴业银锡: 第十届监事会第十六次会议决议公告 ...

证券代码：000426 证券简称：兴业银锡 公告编号：2025－49 内蒙古兴业银锡矿业股份有限公司 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。 一、担保情况概述 注册资本：壹拾叁亿肆仟玖佰叁拾捌万零玖佰元（人民币元） 企业类型：有限责任公司（非自然人投资或控股的法人独资） 经营范围：非煤矿山矿产资源开采；选矿；矿山机械销售；非金属矿及制品 销 售；金属矿石销售；机械零件、零部件销售；五金产品零售；机械电气设备销售； 汽 车零配件零售；化工产品销售（不含许可类化工产品）；建筑用石加工；建筑材料 销 售；机械设备租赁。 内蒙古兴业银锡矿业股份有限公司（以下简称"公司"）全资子公司西乌珠穆 沁旗银漫矿业有限责任公司（以下称"银漫矿业"）因经营发展的需要，拟向银团 （兴业银行股份有限公司呼和浩特分行、中国进出口银行内蒙古自治区分行、中国 建设银行股份有限公司锡林郭勒分行等银行）申请不超过人民币10.1亿元（含本数） 的流动资金银团贷款,期限不超过3年（含3年），融资用途：按照相关法律及监管部 门要求使用，包括但不限于补充流动资金、偿还债务等。 公司拟为银漫矿业 ...

Core Viewpoint - The announcement details the restructuring progress of Inner Mongolia Xingye Silver Tin Mining Co., Ltd. and its controlling shareholder, Inner Mongolia Xingye Group Co., Ltd., highlighting a financial rescue plan involving a trust scheme with China Cinda Asset Management Co., Ltd. [2][3] Group 1: Restructuring Progress - The restructuring plan involves a total trust scale not exceeding 3.655 billion yuan, with a debt investment of up to 2.182 billion yuan directed towards Xingye Group [2] - A total of 1,472,798,432 yuan has been agreed upon for the acquisition of 121,920,400 shares of Xingye Silver Tin, representing a significant portion of the company's total equity [2] - The transaction will not result in a change of control for the listed company, and the restructuring plan is still ongoing [3] Group 2: Financial Transactions - The trust plan has already seen the full transfer of 3.6267 billion yuan to a joint account managed by Xingye Group's administrator, Tianjin Xinye Investment Partnership, and a bank [2] - The company will continue to monitor the restructuring process and fulfill its information disclosure obligations as per legal regulations [3]

Group 1 - Guizhou Province, known as the "hometown of bauxite" in China, is a significant base for aluminum product raw materials in Southwest China [1] - The recent exploration efforts in Qingzhen have led to the discovery of bauxite resources that account for over half of the province's newly added bauxite resources [1] - The Wangjiazai project has achieved a major breakthrough in bauxite exploration in the Qianzhong area, marking the first significant find in nearly 30 years [1][2] Group 2 - The Wangjiazai bauxite exploration project has set three records in the Qianzhong area: the deepest single borehole depth (over 1300 meters), the maximum thickness of a single mineral body (over 25 meters), and the largest achievement in deep, fully concealed bauxite exploration in nearly 30 years [2] - Guizhou is rich in mineral resources, with a focus on strategic and urgently needed minerals as part of the national exploration strategy [3] - The province has seen significant new resource additions, including over 10% of the total bauxite resources and more than six times the lithium resources compared to the existing reserves [7]

Group 1: Xibu Mining - The company has hedged about 50% of its external raw material purchases [1] - Major shareholder's quality assets have been injected into the listed company [1] - Annual capital expenditure is approximately 3 billion, with the Yulong Copper Phase III construction capital expenditure around 5 billion [1] - The company has not yet initiated share buybacks or equity incentive plans [1] - Strategic goals include strengthening the mining main business and refining the smelting industry, while actively expanding resource reserves and improving process levels [1] - The Yulong Copper Mine is a porphyry copper mine with good exploration potential in the deep edge [1] - The major shareholder's holding decisions are based on confidence in long-term development prospects and market environment considerations [1] Group 2: Salt Lake Co. - The company has established a potash fertilizer production capacity system of 5 million tons per year, with subsidiaries responsible for 4 million tons and 1 million tons respectively [2] - Potash fertilizer market demand is expected to remain stable with an upward trend, and international potash prices have significantly increased [2] - Chinese enterprises are accelerating overseas potash fertilizer industry layout to ensure long-term stable supply [2] - The company has mastered full-category potassium chloride processing technology, with core production lines for potassium chloride and lithium carbonate capacity being released [2] - A new 40,000 tons per year lithium salt integrated project is progressing, utilizing advanced technology to increase lithium recovery by 25%, reduce freshwater consumption by 47.4%, and decrease overall energy consumption by 50.6% [2] - The company is exploring diversified shareholder return methods to ensure continuity and stability in profit distribution policies [2] - Through refined management, optimized channels, and reduced labor costs, the company is further lowering production costs [2] - China Minmetals is assisting the company in achieving central enterprise status and enhancing core competitiveness [2] - The company is closely aligning with China's salt lake "three-step" development strategy to build a globally influential salt lake industry cluster [2] Group 3: Zhongji Renjian - The company is implementing an intelligent emergency equipment testing industrial park project in Yanqing District, Beijing, with an investment not exceeding 581.19 million [3] - The company emphasizes market value management by enhancing operational efficiency, profitability, and core competitiveness [3] - The workforce consists of 690 employees, with 65.94% in technical positions and 86.52% holding a bachelor's degree or higher [3] - The company plans strategic investments in fields such as new energy vehicle certification testing and is expanding in regions like the Greater Bay Area, Chengdu-Chongqing Economic Circle, and southeastern Henan [3] Group 4: Asset Management Overview - Shangyin Fund, established in 2013, has an asset management scale of 226.466 billion, ranking 33rd out of 210 [3] - The scale of non-monetary public funds is 166.735 billion, ranking 30th out of 210 [3] - The fund manages 102 public funds, ranking 69th out of 210, with 20 fund managers, ranking 67th out of 210 [3] - The best-performing public fund product in the past year is Shangyin Medical Health Mixed A, with a latest net value of 0.75 and a growth of 24.87% in the past year [3] - The latest public fund product raised is Shangyin National Certificate Free Cash Flow Index A, which is an index-type stock fund, with a subscription period from June 4, 2025, to June 24, 2025 [3]

Core Viewpoint - Western Gold Co., Ltd. plans to acquire 100% equity of Xinjiang Meisheng Mining Co., Ltd. from Xinjiang Nonferrous Metals Industry Group Co., Ltd. using its own funds and loans, which will enhance its core competitiveness and profitability through increased gold production capacity [1][4]. Group 1: Acquisition Details - The acquisition will make Xinjiang Meisheng a wholly-owned subsidiary of Western Gold, which primarily operates in the non-ferrous metal mining sector [1]. - Xinjiang Meisheng's core asset is the Katerba Asu gold-copper polymetallic mine project, with a proven ore reserve of 25.67 million tons, including 7.87 tons of gold [1]. - The project is expected to reach an annual production capacity of 1.2 million tons of ore, yielding approximately 3.3 tons of gold annually [1]. Group 2: Strategic Implications - The acquisition aligns with Western Gold's overall development strategy and is supported by government policies encouraging mergers and acquisitions among listed companies [3]. - The transaction is expected to significantly enhance Western Gold's resource reserves and production capacity, optimizing its industrial layout and driving performance growth [4]. - Analysts note that the acquisition price reflects a premium over the book value due to the large resource reserves and the rising gold prices, indicating potential substantial returns for Western Gold [3].

Group 1 - The core point of the article is that Zijin Mining has revised down its copper production guidance for the Kamoa-Kakula copper mine due to flooding incidents [1] - The copper production target for 2025 has been adjusted from 520,000-580,000 tons to 370,000-420,000 tons [1] - As a result of this reduction, the company's copper equity production for 2025 is expected to decrease by 44,000-93,000 tons [1] Group 2 - The anticipated impact on the company's net profit attributable to shareholders for 2025 is due to the reduced production at the Kamoa-Kakula copper mine [1]

Core Viewpoint - The company, Western Mining Co., Ltd., has announced a cash dividend distribution of 1 yuan per share, totaling 2.383 billion yuan, approved at the annual shareholders' meeting on May 7, 2025 [1]. Dividend Distribution Details - Cash dividend per share is set at 1 yuan, with a total distribution amounting to 2.383 billion yuan based on a total share capital of 2,383,000,000 shares [1]. - The key dates for the dividend distribution are as follows: - Record date: June 19, 2025 - Ex-dividend date: June 20, 2025 - Cash dividend payment date: June 20, 2025 [1]. Taxation Information - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax. For those holding shares for less than one month, the full amount is taxable at a rate of 20%. For holdings between one month and one year, 50% of the income is taxable at a rate of 10% [1]. - Qualified Foreign Institutional Investors (QFII) will have a 10% corporate income tax withheld, resulting in a net dividend of 0.9 yuan per share [1]. - For institutional investors and corporate shareholders, the company will not withhold corporate income tax, allowing for a full dividend distribution of 1 yuan per share [1].