委内瑞拉局势：现状，走向，连锁影响 20260107 摘要 委内瑞拉政权由内政部长卡韦略和国防部长帕德里诺掌控，他们控制着 包括警察、民兵、国防卫队和正规军在内的暴力机器，对该国局势具有 决定性影响。 美国未扶持委内瑞拉反对派，因反对派领袖被认为能力不足，难以撼动 军方实力派，且直接干预可能导致权力真空和局势失控，引发难民和犯 罪问题。 特朗普政府采取秘密行动，旨在通过短期高效手段绕开国会，实现目标， 但未彻底颠覆委内瑞拉政权，反映出其在避免长期冲突和更大混乱方面 的顾虑。 特朗普政府寻求包括石油和矿产资源在内的经济利益，并希望加大禁毒 力度，驱逐俄罗斯和中国等国在委内瑞拉的影响力，这些将是未来谈判 的关键内容。 马杜罗政府通过石油资源分配维持忠诚度，每年约 1/3 到一半的石油收 入用于维稳，未来谈判需解决如何重新分配这些利益，这将是复杂挑战。 Q&A 委内瑞拉当前的政局如何？主要的权力架构是怎样的？ 委内瑞拉在经历了近期的政治风波后，权力架构基本上已经稳定下来。根据宪 法安排，原副总统德尔西·罗德里格斯接任临时总统。然而，委内瑞拉国内实际 掌握国家暴力机器的是两位军方实力派人物：内政部长迪奥斯达多·卡韦略 ...

据新华社报道，美东时间1月2日22时46分，美国总统特朗普下令突袭委内瑞拉，超150架美军飞机从西半球20个基 地起飞，空袭委内瑞拉约3小时，抓走委内瑞拉总统马杜罗及其夫人，1月3日晚间，马杜罗夫妇就已送至纽约布鲁 克林一处拘留中心。 国家元首一夜之间成为他国"阶下囚"，更让委内瑞拉百姓担心的是国家的未来。在马杜罗被掳走后，委内瑞拉最 高法院3日下令该国副总统兼石油部长罗德里格斯担任代理总统。不过特朗普则称，美国将"管理"委内瑞拉直至实 施"安全"过渡。委内瑞拉的前途依然未卜。 特朗普基于门罗主义，生成了新版本的"唐罗主义"。 2026年开局才几天，就见证了冷战后美国在拉美展开的最大军事行动。 上海国际问题研究院外交政策研究所所长牛海彬向第一财经记者表示，虽然特朗普在3日强调了委内瑞拉的石油资 源的重要性，但突袭委内瑞拉还有其他政治和战略的考虑。特朗普试图将袭击与移民和毒品问题做连接，以服务 于国内政治需求；同时，这还是美国践行"特朗普版门罗主义"的关键一步。 而特朗普说，美国将"管理"委内瑞拉直到"能够进行安全、妥善和明智的过渡"，并称美国不想让其他方面介入。 在回答美军是否会在委内瑞拉部署的提问时，他说， ...

Group 1 - The company, Daoshi Technology (300409.SZ), has mining rights in the Democratic Republic of the Congo [1]

这种市场疑虑迅速传导至股价表现上。12月9日收盘，中国中冶股价迎来断崖式下跌，A股以跌停价3.05 元收盘，港股单日跌幅更超21%，双市合计市值蒸发超120亿元。 12月17日晚间，中国中冶发布股份回购公告，拟以自有资金通过集中竞价交易方式回购部分A股及H股 股份。其中，A股回购金额不低于10亿元且不超过20亿元，股份价格不超过人民币4.90元/股；H股回购 金额不超过5亿元。回购的股份将用于注销并减少公司注册资本，实施期限为自股东会审议通过回购方 案之日起12个月内。 按价格上限测算，公司预计可回购A股股份2亿至4亿股，占公司当前总股本的0.98%至1.97%。 这一举措距离其超600亿元资产出售计划引发股价剧烈波动仅过去一周。回顾事件，12月8日晚，中国中 冶公告，为响应中央企业聚焦主责主业要求、优化业务结构，拟以606.76亿元价格向控股股东中国五矿 集团及其关联方出售多项资产。交易标的涵盖中冶置业100%股权及相关债权，有色院、中冶铜锌等五 家资源类子公司股权，涉及房地产与矿产资源两大核心资产板块。 尽管交易中部分矿产标的评估实现大幅增值，如华冶杜达100%股权增值率达789.57%，但资本市场对此 ...

Core Viewpoint - Legal experts warn that foreign mining companies are extracting Liberia's mineral resources at very low returns due to significant loopholes in laws and agreements, leading to potential revenue losses amounting to billions of dollars for the country [1] Group 1: Revenue and Contributions - Mittal Liberia generated over $1.2 billion in revenue from 2009 to 2022, with the government receiving only $138 million, approximately 11% of the total [1] - B2Gold exported gold worth $576 million, contributing only 26.12% to national revenue [1] Group 2: Root Causes - The issues stem from unfavorable terms in concession agreements, lack of robust regulations in areas like carbon credits, weak oversight of A/B class mining licenses, and insufficient accountability of the judicial system towards multinational companies [1] Group 3: Historical Context and Recommendations - Liberia has been trapped in a "resource curse" cycle since the 1950s, exporting raw materials while profits flow out, leaving local communities without benefits [1] - Experts urge the legal community to take immediate action to address these loopholes, renegotiate agreements, and ensure at least 20% local ownership and value localization to reverse the ongoing extraction of mineral wealth and the country's poverty [1]

Core Viewpoint - Minmetals Resources (01208) has seen a stock increase of over 5%, currently up 5.5% at HKD 7.29, with a trading volume of HKD 76.34 million, following the announcement of positive exploration results from the Izok Corridor project in Canada [1] Group 1: Exploration Activities - Minmetals Resources announced regional exploration work during the summer field seasons of 2024 and 2025 at the Izok Corridor project, based in Nunavut, Canada [1] - The exploration is based on historical geophysical and geological data, confirming multiple target areas with surface mineralization [1] - Following the exploration results, the company has prioritized subsequent drilling targets and further exploration efforts [1] Group 2: Resource Expansion Drilling - Positive results were also reported from resource expansion drilling at High Lake and the eastern part of High Lake, revealing high-grade mineralization and extending the known mineralization range [1] - The company is actively working to update the mineral resource estimate for High Lake and to complete the first mineral resource estimate for the eastern part of High Lake [1]

Core Viewpoint - Minmetals Resources (01208) has seen a stock increase of over 5%, currently up 5.5% at HKD 7.29, with a trading volume of HKD 76.34 million, following the announcement of positive exploration results from the Izok Corridor project in Canada [1] Group 1: Exploration Activities - Minmetals Resources announced regional exploration work during the summer field seasons of 2024 and 2025 at the Izok Corridor project, based in Nunavut, Canada [1] - The exploration is based on historical geophysical and geological data, confirming multiple target areas with surface mineralization [1] - Following the exploration results, the company has prioritized subsequent drilling targets and further exploration efforts [1] Group 2: Resource Expansion - In 2025, Minmetals Resources will conduct resource expansion drilling at High Lake and its eastern section, which has yielded positive results [1] - Drill holes have revealed high-grade mineralization, extending the known mineralization range [1] - The company is continuing efforts to update the mineral resource estimate for High Lake and to complete the first mineral resource estimate for the eastern section [1]

●是集自然资源资产储备、管理、运营于一体的省级专门专业机构 省储备中心是集自然资源资产储备、管理、运营于一体的省级专门专业机构，将开展省级土地、矿 产资源、补充耕地指标，以及其他门类自然资源资产统一储备运营，构建规范高效的资产储备运营体 系，推动自然资源资产由资源化管理向资产化、资本化运营转变，服务全省自然资源资产高效配置、保 值增值和可持续利用，助力全省经济社会高质量发展。 四川拥有丰富的自然资源"家底"，激活其潜在价值，促进资源优势转化为发展优势，具有重要意 义。省储备中心的成立，突破以往省级层面以土地储备为主的业务范畴，构建起省级土地、矿产资源、 用地指标以及其他门类的自然资源资产统一储备运营的平台。这将进一步挖掘闲置低效省级资产资源价 值潜力，打通"资源变资产、资产变资本、资本变资金"的价值实现路径。（记者 王若晔） ●将开展省级土地、矿产资源、补充耕地指标，以及其他门类自然资源资产统一储备运营 11月28日，四川省自然资源资产储备中心（下称省储备中心）揭牌成立。 ...

Core Insights - The Algerian President Tebboune commented on the impact of international oil prices dropping to around $60 per barrel, emphasizing that the government has taken measures to mitigate the effects of declining revenues [1] - Algeria's current foreign exchange reserves are sufficient to support the economy for about a year and a half without external borrowing, providing a buffer against falling oil and gas prices [1] - The country is advancing in diversifying its economy, with increased investments and exploration activities in non-oil sectors, which is expected to reduce reliance on oil and gas revenue fluctuations [1][2] Economic Outlook - Despite the short-term decline in oil and gas prices, Algeria's economy has room for improvement, driven by accelerated non-oil projects [2] - The ongoing diversification efforts are expected to make the economy less sensitive to oil price changes compared to the past [2]

Core Points - The Xinjiang Uygur Autonomous Region has issued the "Management Measures for Green Mine Construction" to enhance the development and protection of mineral resources [1][2] - The measures establish a collaborative mechanism involving various government departments to promote green mine construction and implement supportive policies [1] - Mining enterprises are designated as the main responsible entities for green mine construction, required to conduct self-assessments and rectify issues in accordance with relevant standards [1][2] Group 1 - The measures require new mines to adhere strictly to green mine standards and undergo evaluation within 1 to 2 years of operation [1] - Existing medium and large-scale mines must clarify timelines and requirements for green mine construction during the renewal or modification of mining rights [2] - Mines with less than three years of remaining extractable reserves must focus on pollution prevention and ecological restoration before closure [1][2] Group 2 - Natural resource departments are tasked with increasing supervision of mines that have not yet initiated green mine construction [2] - The evaluation indicators for green mine construction will be developed and adjusted by the regional natural resources department based on legal and technical standards [2] - Mining groups and enterprises are encouraged to develop and apply their own standards for green mine construction [2]