HBIS Resources (SZ:000923)2024-01-04 10:26Group 1: Company Overview - HeSteel Resources Co., Ltd. is engaged in copper mining, smelting, and processing, with a significant presence in South Africa as the largest copper wire producer [2][3]. Group 2: Project Status - The current major construction project is the Copper Phase II project, which is still under construction and has experienced delays primarily due to the impact of the South African pandemic [2]. - The first crusher in the crushing system has completed installation and debugging, entering the preliminary trial production phase, but overall production remains low due to project progress [2]. Group 3: Sales and Market Dynamics - Copper products are mainly sold to local users, but due to high copper prices, some copper concentrates are sold domestically [3]. - The iron ore sales have gradually returned to normal in the second half of the year [3]. Group 4: Resource Reserves - As of the end of 2022, the stockpile of iron ore is approximately 140 million tons with an average grade of 58% [4]. - The estimated resources for the Copper Phase II project include 36,288.56 million tons of ore with a copper metal content of 271.83 million tons and an average geological grade of 0.75% [4]. - The vermiculite reserves amount to 36,317.7 million tons with an average grade of 18.02% for particles larger than 0.425mm [4].