Market Overview - The local share market started positively with Information Technology up 2.5% intraday, while most sectors were in the green except for energy, which was down 0.6% in the final hour [1] European Union Investment - The European Union is expected to invest in Australian critical mineral projects, similar to the strategy adopted by the U.S. earlier this year, which could serve as a catalyst for market excitement [2] Company Performances - Gentrack Group reported an 8% revenue growth to $230 million and a 119% increase in profits after tax to $21 million, making it a top gainer [3] - Qube Holdings surged 18% to $4.81 per share after receiving a takeover offer from Macquarie, valuing the company at $11.6 billion [4] - Reece Limited saw a jump of over 12% despite no news, following better-than-expected earnings, although it has experienced a 50% decline in one-year returns [4] Declining Stocks - Dateline Resources fell 3.7%, continuing a familiar pattern, and its future performance may be influenced by the EU's upcoming decisions [5] - Coronado Global dropped 4% intraday, with one-year returns down 75%, and currently has no broker rating as a buy [5] - Cauldron Energy experienced a significant decline of 22% despite announcing expanded mineralization at its Manyingee South project, indicating market skepticism [6]

祁玉蓉（F03100031, Z0021060），联系电话：010-8229 5006 | 铅锌日评20251124：沪铅上方承压；沪锌震荡偏弱 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025/11/24 | | 指标 | 单位 | 今值 | | 变动 | 近期趋势 | | 元/吨 | | SMM1#铅锭平均价格 | | 17,075.00 | | -0.29% | | | 沪铅期现价格 | | 期货主力合约收盘价 | 元/吨 | 17,165.00 | | -0.32% | | | 元/吨 | | 沪铅基差 | | -90.00 | | 5.00 | | | 元/吨 | | 升贴水-上海 | | 25.00 | | - | | | 美元/吨 | | 升贴水-LME 0-3 升贴水-LME 3-15 | 美元/吨 | -22.41 -85.30 | | 6.50 - | | | 价差 | | 沪铅近月-沪铅连一 | 元/吨 | -5.00 | | 15.00 | | | 元/吨 | | 沪铅连一-沪铅连二 | | ...

The BHP Group Ltd (ASX: BHP) share price is in focus today after a flurry of activity around possible interest in mining company Anglo American.BHP is one of the world’s biggest mining companies, it is a leading producer of iron ore, copper and coal. It also has a potash (greener form of fertilizer) project in Canada called Jansen.Does BHP want to acquire Anglo American?According to reporting earlier today by Bloomberg, BHP had renewed its takeover interest in mining rival Anglo American. The UK-listed mine ...

Flash | 16 Nov 2025 15:34:41 ET │ 10 pages CMOC (3993.HK) What's New from Citi 2025 China Conference: KFM Phase 2 in Operation in 1H27E CITI'S TAKE We hosted meetings for CMOC on Nov 13th at our China Conference in Shanghai. Ms. Xinyi Liu, IR Manager, and Ms. Anna Zhu, IR Manager, attended the meeting. Below are our key takeaways. 3Q25 result – The higher net profit QoQ in 3Q25 and better than market expectation profit is mainly driven by lower effective tax rate, some realized cobalt sales volume, and stro ...

ab Global Research 17 November 2025 Copper Bullish outlook vs soft fundamentals near-term Remain structurally positive but short-term positioning elevated We have maintained a structurally positive view on copper through 2025, but were concerned a 'soft patch' in S&D fundamentals would weigh on the market in 3Q25 as elements of China demand softened after a strong 1H (renewables/appliances), some overhang from tariff pre-buying/US imports and resilient China smelter output. This fundamental thesis has broad ...

November 21, 2025 02:04 AM GMT Zijin Mining Group | Asia Pacific Asia Pacific Summit 2025 Feedback Key Takeaways Copper: Julong copper mine phase II with a designed capacity of 160-180kt/yr is expected to commence production by end-2025 and deliver an additional 100kt output in 2026. Expansion of its Serbia copper complex is expected to complete in ~2027, slightly slower than expected, as the block caving method is a new application in Serbia and the approval will take more time. Production cost of copper c ...

Flash | 16 Nov 2025 18:22:27 ET │ 11 pages Zijin Mining (2899.HK) What's New from Citi 2025 China Conference: Mine Gold and Copper Output Maintain Decent Growth CITI'S TAKE We hosted meetings for Zijin Mining on Nov 13th at our China Conference in Shanghai. Ms. Krystal Chen, IR Manager, attended the meeting. Below are our key takeaways. Mine gold output – Mine gold output is 65t in 9M25, +20% YoY, mainly driven by newly acquired Akyem mine and increasing output from Sawaya'erdun gold mine. Mgmt. expects the ...

Core Viewpoint - BHP Group has decided not to pursue a takeover of Anglo American after recent discussions, as Anglo American moves forward with plans to merge with Teck Resources [1] Group 1 - BHP Group's decision comes amid Anglo American's advancing merger plans with Teck Resources [1] - The talks between BHP Group and Anglo American have concluded without a takeover agreement [1]

Core Viewpoint - BHP Group has decided not to pursue a takeover of Teck Resources amid ongoing negotiations for Teck's merger with Anglo American, which is valued at $64 billion [1][2]. Group 1: BHP's Position - Initial discussions took place between BHP and Anglo American, but BHP has confirmed it will not proceed with a combination of the two companies [2]. - A significant challenge for BHP was Teck's ability to match any unsolicited bid during the negotiation phase [2][3]. Group 2: Anglo American and Teck Merger - Anglo American is expected to pay a $330 million break fee if it withdraws from the deal with Teck, which would impact BHP financially if it took control of the merger [3]. - An extraordinary meeting for Anglo shareholders is scheduled for December 9, where a vote on the Teck merger is anticipated to pass, resulting in a $50 billion merger that would give Anglo a 70% exposure in copper [4]. Group 3: BHP's Future Strategy - Following the decision to step back from takeover attempts, BHP plans to focus on its own growth strategies, particularly in the Chinese market, where it faces challenges due to state-backed competition [5]. - BHP shares opened at $40.37 on the trading day following the announcement [5].

Core Viewpoint - BHP Group has decided to cease pursuing a potential merger with Anglo American following initial discussions with Anglo's board [1] Company Summary - BHP Group is no longer interested in a combination with Anglo American after preliminary talks [1]