ZIJIN MINING shares plummeted 5.01% during intraday trading on Tuesday, as a broad sell-off hit gold-related stocks on the Hong Kong exchange. The decline extends a sector-wide pullback from the previous session's rally, with multiple headwinds weighing on investor sentiment.

The sell-off was driven by a combination of factors. Rising U.S. and Brent crude oil prices, fueled by uncertainty over the Strait of Hormuz and ongoing Middle East tensions, have intensified concerns about upside risks to inflation. This, coupled with hawkish signals from Cleveland Fed President Beth Hammack, who indicated the Federal Reserve may need multiple rate hikes to bring inflation down to its 2% target, pressured precious metals and related equities. Spot gold, while still trading above $4,400 per ounce, saw gold miners retreat across the board, with peers like China Gold International falling 2.5% and Lingbao Gold declining 2.8%.

Additionally, the market continues to digest ZIJIN MINING's recent termination of its approximately CAD 5.5 billion acquisition of Allied Gold Corporation, opting instead for a smaller stake subscription. The sector also faced a natural correction after the prior session's gains, which had been catalyzed by Congo's administrative ban on copper and cobalt concentrate exports that briefly boosted supply-tightening expectations.