钨矿开采

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佳鑫国际资源(03858)8月20日-8月25日招股 拟全球发售1.1亿股 引入信达、鲁银等基石投资者
智通财经网· 2025-08-19 23:27
集团已与中国信达(香港)资产管理有限公司(信达)、新加坡鲁银贸易有限公司(鲁银)、广发基金管理及广 发国际资产管理(统称广发基金)、富国香港及富国基金、Zhengxin Group Investment Limited(Zhengxin) (分别称为"基石投资者"及统称"基石投资者")订立基石投资协议(分别称为"基石投资协议"及统称"基石 投资协议"),据此,基石投资者同意在若干条件规限下,按发售价认购或促使其指定实体按发售价认购 可按相当于7638万美元的总金额(按1.00美元兑7.8498港元的转换率计算)购买的有关数目发售股份(向下 约整至最接近每手400股股份的完整买卖单位)(基石配售)。根据发售价每股股份10.92港元,基石投资者 将认购的发售股份总数将为5490.44万股发售股份。 假设超额配股权并无获行使及按发售价每股发售股份10.92港元计算,扣除集团于全球发售中应付的包 销费用及开支后,集团估计集团将获得所得款项净额约10.88亿港元。集团计划将全球发售所得款项净 额用于以下用途:(i)约55.0%将用作拨付巴库塔钨矿项目开发的资本成本。其中约17.5%将用作拨付有 关巴库塔钨矿项目开发尾矿 ...
佳鑫国际资源(03858.HK)预计8月28日上市 引入中国信达等多家基石
Ge Long Hui· 2025-08-19 23:11
集团订立基石投资协议,据此,基石投资者同意在若干条件规限下,按发售价认购或促使其指定实体按 发售价认购可按相当于7638万美元的总金额购买的有关数目发售股份。基石投资者包括中国信达(香港) 资产管理有限公司("信达",中国信达(01359.HK)的全资附属公司)、新加坡鲁银贸易有限公司("鲁银", 国有企业山东招金集团有限公司的全资附属公司)、广发基金管理及广发国际资产管理(统称"广发基 金")、富国香港及富国基金、Zhengxin Group Investment Limited("Zhengxin")。 假设超额配股权并无获行使及按发售价每股发售股份10.92港元计算,估计集团将获得所得款项净额约 10.877亿港元。集团计划将全球发售所得款项净额用于以下用途:约55.0%将用作拨付巴库塔钨矿项目 开发的资本成本;约10.0%将用作发展集团的仲钨酸铵(APT)生产能力;约25.0%将用作偿还集团部分以 欧元计值的银行贷款的本金总额及应计利息,集团一直主要以银行贷款拨付集团巴库塔钨矿项目的建设 发展;以及约10.0%将分配作营运资金及其他一般公司用途。 格隆汇8月20日丨佳鑫国际资源(03858.HK)发布 ...
新股消息 | 佳鑫国际通过港交所聆讯 专注于开发巴库塔钨矿
智通财经网· 2025-08-11 22:53
Core Viewpoint - Jiaxin International Resources Investment Limited is preparing for an IPO on the Hong Kong Stock Exchange, with CICC as the sole sponsor [1]. Group 1: Company Overview - Jiaxin International is a tungsten mining company based in Kazakhstan, focusing on the development of the Bakuta tungsten mine, which is recognized as one of the largest tungsten ore resources globally [4]. - The Bakuta tungsten mine is projected to start commercial production in April 2025, with a target annual mining and processing capacity of 3.3 million tons of tungsten ore [4]. Group 2: Resource Estimates - As of June 30, 2025, the estimated mineral resource of the Bakuta tungsten mine is approximately 107 million tons containing 0.211% WO3, equivalent to 227.3 thousand tons of WO3 [5]. - The mine has a credible ore reserve of 68.4 million tons with an average grade of 0.206% WO3, translating to 140.8 thousand tons of WO3 [5]. Group 3: Financial Performance - The company reported operating losses of HKD 75.09 million, HKD 77.29 million, and approximately HKD 160 million for the fiscal years 2022, 2023, and 2024, respectively [6]. - For the six months ending June 30, 2025, the projected operating loss is approximately HKD 69.72 million [6]. - The company has not generated any revenue in the years leading up to 2024, with projected revenue of HKD 126.31 million for 2025 [8].
钨的新时代20250728
2025-07-29 02:10
Summary of Tungsten Industry Conference Call Industry Overview - The tungsten mining indicators in China have been tightened for two consecutive years, with the first batch of 2025 indicators decreasing by 6.5% to 58,000 tons, alongside increased efforts to combat illegal smuggling and enhance environmental inspections, aimed at controlling production and consolidating policy effects [2][4][6] - The global supply-demand relationship for tungsten is tightening, with an expected gap to continue expanding from 2026 to 2028 [2][3] - The price of tungsten concentrate in China has surged to 193,000 yuan per ton, marking a cumulative increase of 36% since the beginning of the year, reaching a historical high [2][5] Key Points and Arguments - **Export Controls**: China has implemented export controls on heavy tungsten acid, tungsten oxide, and tungsten carbide, leading to a short-term decline in export volumes. However, due to high overseas premiums, some products have seen a recovery, with ammonium paratungstate exports increasing by 70% year-on-year [2][4][6] - **Geopolitical Factors**: Conflicts between India and Pakistan have highlighted tungsten's strategic metal value, contributing to price increases [4] - **Supply Constraints**: Domestic and international supply constraints are expected to drive long-term price increases, with the market entering a bullish phase [3][4][17] - **Price Disparity**: There is a significant price disparity between domestic and overseas tungsten prices, with overseas APT prices significantly higher than domestic prices. Chinese companies can maintain growth by increasing exports to regions not subject to the 301 tariffs [2][16][20] Policy Measures - **Mining Quota Control**: China has a history of controlling tungsten mining quotas since 1991, with the first batch for 2025 set at 58,000 tons, a decrease from previous years [6] - **Export Control Implementation**: Export controls were strengthened in February 2025, leading to a drop in overall tungsten product exports, although certain downstream products like tools and blades have seen growth [22][23] - **Environmental and Smuggling Crackdown**: Increased efforts to combat illegal smuggling and enhance environmental inspections have been noted, effectively reducing over-extraction rates [6] Global Responses - **EU and US Initiatives**: Both the EU and the US have taken measures to secure critical metal supplies, with the EU setting local mining, processing, and recycling targets, and the US enhancing domestic production capabilities through legislation and international cooperation [7][9][12] - **US Tariffs**: The US has imposed a 25% tariff on Chinese tungsten concentrate and downstream products, aiming to restructure the supply chain and increase tungsten stockpiles in the fiscal years 2024-2025 [13][14][15] Future Supply and Demand Dynamics - **Supply Growth Limitations**: Global supply growth remains constrained, with emerging industries and geopolitical security demands driving long-term demand growth [17][19] - **Production Forecasts**: Global tungsten production is expected to rise from 81,000 tons in 2023 to 90,300 tons by 2028, with a compound annual growth rate of 2.57% [18][24] - **Chinese Market Drivers**: Demand in China is driven by manufacturing upgrades and large infrastructure projects, with significant growth in hard alloy tungsten material consumption [19] Price Trends and Predictions - **Short-term Price Outlook**: In the short term, the tightening supply-demand relationship and low global inventories are expected to benefit Chinese tungsten concentrate prices, potentially leading to new historical highs [24] - **Long-term Price Projections**: Long-term projections indicate that the global supply-demand gap will further widen, driving prices upward and indicating a bullish market trend [24] Investment Insights - **Company Performance Trends**: Analysis of major listed companies indicates stable profit growth driven by resource injection and downstream product price increases [26] - **Investment Selection Criteria**: Investors are advised to focus on companies with strong upstream resource development potential and robust downstream pricing capabilities, particularly those benefiting from high overseas premiums [27][28]
【异动股】又现胚胎错误移植!辅助生殖公司Monash IVF (ASX:MVF)股价大幅跳水 CEO引咎辞职
Sou Hu Cai Jing· 2025-06-12 12:29
Group 1: Monash IVF Incident - Monash IVF Group Ltd faced a significant setback due to a recent incident involving the incorrect implantation of an embryo, leading to the resignation of the CEO [3][6][8] - This incident follows a previous similar event in April, where a patient in Brisbane was mistakenly implanted with another patient's embryo, resulting in a non-biological child [4][6] - Following the latest incident, Monash IVF's stock price plummeted by 27%, reflecting investor concerns [6][8] Group 2: Almonty Industries - Almonty Industries Inc received formal recognition from the U.S. House of Representatives for its strategic importance in ensuring critical mineral supply chains amid geopolitical tensions [10] - The company's stock price surged from AUD 0.6 to approximately AUD 3.5 over the past year, marking a 376.71% increase [10] - Almonty is positioned to become the largest tungsten producer outside of China, with plans to establish operations in the U.S. [10] Group 3: Black Rock Mining - Black Rock Mining Ltd announced an increase in its loan facility to USD 204 million, aimed at supporting the development of its flagship Mahenge graphite project [15][16] - The Mahenge project is noted for having over 200 million tonnes of graphite resources, making it one of the largest graphite reserves globally [16][18] - The increase in debt financing is seen as a significant step towards the development of the Mahenge project [16] Group 4: Qantas Airways - Qantas announced the closure of its low-cost subsidiary Jetstar Asia, reallocating 13 aircraft to the Australian and New Zealand markets [20] - The closure will result in the termination of 16 routes and is expected to free up AUD 500 million for fleet upgrades [20] - Jetstar Asia has been facing financial difficulties, with projected losses of AUD 25 million for the first half of the year [21]
12年江西发现价值千亿钨矿,四年后又发现一个,西方都想分一杯羹
Sou Hu Cai Jing· 2025-06-10 09:25
Core Insights - China has discovered the world's largest tungsten mine, significantly enhancing its sustainable development prospects and attracting global attention [1][13] - Tungsten is a critical industrial resource due to its unique properties, including high hardness and melting point, making it indispensable in various sectors such as aerospace and defense [1][3][5] Group 1: Resource Significance - Countries rich in tungsten resources hold substantial influence, especially in high-tech fields, due to tungsten's strategic importance in manufacturing key components like rocket engines and munitions [3][5] - The global scarcity of tungsten resources, with only 0.001% of the earth's crust containing tungsten, has led to intense competition among nations for this vital resource [7][9] Group 2: China's Position - China is the largest tungsten reserve holder, with its reserves accounting for 57% of the global total, far exceeding Russia, the second-largest holder [14] - The discovery of significant tungsten deposits in regions like Dahutang and Zhuxi has solidified China's leadership in the global tungsten industry, with estimated values exceeding 100 billion RMB [11][14] Group 3: Industry Challenges and Developments - Despite its abundant tungsten resources, China faces challenges in deep processing technologies, leading to a high export ratio of raw materials and limited profitability for domestic companies [16][17] - In response to resource pressures, China has implemented measures to regulate tungsten mining and exports, aiming for sustainable development and increasing the export of high-value products like tungsten alloys [17][19]
比亚迪在澳4月份销量超特斯拉六倍 Xanadu与紫金独家排他协议终止 将启动25%项目权益转让期权股东表决程序及其他融资洽谈
Sou Hu Cai Jing· 2025-05-07 12:40
Group 1 - Xanadu Mines Ltd has terminated its exclusive negotiation agreement with Zijin Mining Group due to the inability to finalize a control transaction within the agreed timeframe [1][2] - The company will restart the shareholder voting process regarding the exercise of a 25% put option, with a special meeting scheduled for June 4, 2025 [2][3] - If the put option is exercised, Xanadu can sell 19.125% of its interest in the Kharmagtai project to Zijin for $25 million, funded by a low-interest loan from Zijin [3] Group 2 - Xanadu is exploring other financing options and potential partnerships for the Kharmagtai project, while also discussing joint venture or equity financing for the Red Mountain project [4] - The company has received approval to issue up to 15% of its shares for financing as a backup plan [4] Group 3 - Almonty Industries Inc has signed a binding off-take agreement with U.S. defense contractor Tungsten Parts Wyoming, Inc. for the supply of tungsten oxide [5][6] - The agreement stipulates a minimum monthly purchase of 40 tons of tungsten oxide, which will be used for U.S. defense projects [6][7] - Almonty reported a revenue of CAD 28.8 million for the fiscal year 2024, a 28% increase from the previous year, but also a net loss of CAD 16.3 million [9][10] Group 4 - The company plans to relocate its registered office from Canada to the U.S., which has been approved by shareholders [10] - Almonty's stock price has increased approximately 285% over the past year, reaching a 52-week high of AUD 2.85 [10]
中信证券:钨矿开采指标收紧 钨价中枢有望上行
news flash· 2025-04-25 00:17
中信证券(600030)研报指出,2025年4月21日,自然资源部下达2025年度第一批钨矿开采总量控制指 标5.8万吨,相比2024年第一批指标降低4000吨,同比下滑6.5%,且降幅同比增加4.9pcts。受开采指标 约束、环保监管要求、矿山品位下降、新建项目短期难以投产等因素影响,我们认为短期内钨行业增量 有限,叠加下游需求在设备更新政策及光伏钨丝的拉动下快速增长,供需缺口或将支撑钨价中枢上行。 出口管制政策背景下,钨产业有望转型升级,钨资源战略属性进一步加强。 ...
晨报|隐债置换/钨价上行
中信证券研究· 2025-04-25 00:09
化债资金前置发行的背景下,一季度地方债发行规模创新高,合计发行2.84万亿元, 其中化债资金1.4万亿元,包括1.3万亿元置换隐债专项债和1172亿元特殊新增专项 债。但从新增地方债的角度看,一季度发行新增一般债2791亿元,新增专项债9602亿 元,节奏同比有所加快,但相对其余年份而言仍有差距。展望二季度,当前已公布发 行地方债合计规模约2.23万亿元,在"自审自发"试点落地后,新增债发行有望加速, 也可期待土储专项债的增量发行和化债资金的继续落地。配置角度,当前地方债利差 相对较高,流动性虽有改善,但仍低于市场平均水平,适合负债端稳定的配置机构进 行参与。 风险因素:监管政策超预期收紧;央行货币政策超预期;个别信用事件冲击等。 敖翀|中信证券 金属行业首席分析师 S1010515020001 裘翔|中信证券首席A股策略师 S1010518080002 策略|"国家队"未曾减持ETF 2023年10月以来,中央汇金通过增持ETF有效稳定资本市场预期、提振投资者信心。 根据公募基金23Q4-25Q1季度披露的持有人数据,汇金持有的ETF份额未曾出现环比 净减少的情况,诸如"汇金通常在市场阶段性上涨后卖出"等传 ...
有色金属行业:关键金属之钨投产项目追踪——巴库塔钨矿预计将于2025Q2商业生产,对全球钨供应增量贡献可观
HUAXI Securities· 2025-04-24 07:00
Investment Rating - The report gives a "Buy" rating for the tungsten industry, predicting that the stock price will outperform the Shanghai Composite Index by 15% or more within the next six months [33]. Core Insights - The Bakuta tungsten mine is expected to begin commercial production in Q2 2025, contributing significantly to global tungsten supply [4][6]. - The mine has favorable geological conditions and is one of the largest tungsten resources globally, with an estimated resource of 109.5 million tons containing 0.211% WO3 [3][11]. - The global tungsten supply has been declining over the past six years, and the Bakuta mine's phase two production is expected to contribute 13% to global output by 2028 [6][28]. Summary by Sections Bakuta Tungsten Mine Overview - The Bakuta tungsten mine is located in Kazakhstan and is one of the largest open-pit tungsten mines globally, with a significant resource endowment [3][11]. - The mine's estimated resources include 10.95 million tons of ore, translating to approximately 231,500 tons of WO3 [3][11]. Production Timeline - Phase one of the Bakuta project is set to start commercial production in Q2 2025, with a target capacity of 3.3 million tons of tungsten ore per year [4][20]. - Phase two is planned for Q1 2027, which will increase production capacity to 4.95 million tons per year [4][20]. Cost Advantages - The Bakuta mine benefits from lower operational costs due to its open-pit nature and favorable local conditions for land use, water, electricity, and labor compared to other major tungsten-producing countries [23][24]. - The estimated operational cash cost for 2025 is projected to be approximately RMB 463.2 million, with a unit cost of RMB 156 per ton of ore [23][24]. Global Supply Dynamics - Global tungsten production is expected to remain stable, with a slight increase in 2024, but the Bakuta mine's contribution will be crucial as it ramps up production [6][28]. - The report highlights that China's tungsten production dominates the market, accounting for about 83% of global output [28]. Beneficiary Companies - Companies expected to benefit from the Bakuta tungsten mine's production include Zhangyuan Tungsten, Zhongtung High-tech, and Xiamen Tungsten, among others [7][30].