Movement Alert|ZIJIN MINING Rises 3.29% in Regular Trading, DRC Bans Copper Concentrate Exports Boosting Supply Tightening Expectations

Market Focus
Aug 07

On August 7, ZIJIN MINING rose 3.29% in regular trading, trading at HK$36.44/share, with turnover of HK$1.624 billion.

On the news front, the Democratic Republic of Congo issued a new administrative directive to completely ban exports of copper and cobalt concentrates. This policy move has reinforced global copper concentrate supply tightening expectations, with LME copper futures touching $14,229.5/ton intraday, marking a new high since the end of January. ZIJIN MINING responded that its Kolwezi copper mine produces blister copper and electrodeposited copper, while the Kamoa-Kakula copper mine produces anode plates and blister copper — none of which fall under the export ban.

The broader Gold sector showed strength, with ZIJIN GOLD INTL up 5.63%, CHINAGOLDINTL up 3.7%, LINGBAO GOLD up 4.78%, ZHAOJIN MINING up 2.83%, and SD GOLD up 2.34%. The company reported estimated H1 net profit of RMB 39.1 billion, a 68% year-over-year increase, with mine-produced gold of 47 tonnes, up 15% year-over-year.

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