On October 21st, Huatai Securities published research reports indicating that the mining of copper and gold by Zijin Mining Group in the third quarter of this year recorded an increase by quarter, therefore it is determined that it is still expected to achieve the annual production target, namely a copper production of 1.11 million tons and a gold production of 73.5 tons. Huatai Securities mentioned that Zijin intends to acquire 100% equity of the Akyem gold mine project in Ghana, with gold production from the relevant gold mine projects in 2021 to 2023 being 11.9 tons, 13.1 tons, and 9.2 tons respectively. The bank believes that if the acquisition is successful, it will be significant for Zijin to achieve the target gold production of 100 to 110 tons in 2028. Taking into account the unexpected rise in copper and gold prices since early 2024, the bank has raised its assumptions for copper and gold prices for the 2024 fiscal year. In addition, considering the strengthened market expectations for inflation in the United States and the presence of many overseas mines in Zijin, the bank has raised its cost assumptions for the 2025 to 2026 fiscal years and ultimately estimated Zijin's net profit attributable to shareholders for the fiscal years 2024 to 2026 to be 34.248 billion, 37.676 billion, and 41.968 billion yuan, with annual growth rates of 62%, 10%, and 11% respectively, corresponding to earnings per share forecasts of 1.29, 1.42, and 1.58 yuan. Huatai Securities stated that as a leading domestic copper mining enterprise, Zijin Mining Group operates steadily and actively expands, setting its H-share target price at HK$19.01 and maintaining a "buy" rating.