Gelonghui, April 15 | CITIC Construction Investment Securities Research Report indicates that CITIC Metals (601061.SH) has been deeply involved in the trading business for many years, investing in two-wheel drives, investing in a number of world-class mineral resources, including niobium, copper, zinc, platinum, etc., and has invested in mines one after another, and the contribution of mining resources to performance has increased significantly. The Platreef platinum group polymetallic mine project in South Africa is under construction. It is expected to be put into operation in the third quarter of 2024. The project will be built in stages. After full commissioning, it will become one of the world's largest and lowest-cost producers of palladium, platinum, rhodium, nickel, copper and gold. It is estimated that in 2024-2026, the company's net profit to mother will be 28.64/32.10/3.495 billion yuan, respectively, corresponding to PE of 15/14/13 times, covered for the first time, and given a purchase rating.