Bank of China International issued a report indicating that Minmetals Resources' net profit plummeted by 95% year-on-year to 9 million US dollars, but it is still better than the bank's expected loss of 71 million US dollars. It raised its target price to 3.75 yuan, reaffirming the “buy” rating. The bank expects the company's profit to explode over the next two years, from $9 million in 2023 to $438 million in 2025 as the two expansion projects begin to contribute. Also, once the acquisition of the Khoemacau mine in Botswana is completed, it will further boost the company's growth.