HK Stock Movement | CHINFMINING (01258) Drops Over 6% Again as Chambishi Southeast Mine Temporarily Halts Production, Cuts Copper Output Guidance to 140K Tons

Stock News
Nov 21

CHINFMINING (01258) fell more than 6% again, dropping 5.82% to HK$13.26 by the time of writing, with a turnover of HK$75.883 million. The company announced that its subsidiary, NFC Africa Mining, has completed repairs on the auxiliary shaft of the Chambishi Southeast Mine, which began remediation in September this year. Work is now underway on the main shaft, with full repairs expected to be completed by mid-December. During this period, production at the Chambishi Southeast Mine will remain suspended. As a result, the company has revised its 2025 production plan, lowering its self-owned mine copper output guidance from 160,000 tons to 140,000 tons.

Meanwhile, overnight U.S. employment data showed mixed signals—job additions of 119,000 significantly exceeded expectations, but the unemployment rate rose to a four-year high of 4.4%, and previous months' job figures were sharply revised downward. This is the final employment report before the Fed's December policy meeting, potentially complicating its decision-making. Following the data release, copper prices weakened.

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