Summary by Futu AI
Zijin Mining Group announced a major breakthrough in exploration and storage of its copper mines in Tibet Julong and Heilongjiang Copper Mountain, with an additional registered copper metal resource of 18.377 million tons and a registered copper metal reserve of 5.777 million tons, accounting for 14.2% of China's copper reserves at the end of 2022. Tibet Julong Copper Mine, which was acquired by Zijin Mining Industry with a 50.1% stake in 2020, has quickly completed the first-phase engineering and construction and resource replenishment exploration. Currently, it has the largest registered resource reserves of copper mines in China. The second-phase expansion project of Julong Copper Mine has been approved and is expected to begin trial production in the first quarter of 2026, with significant production...Show More