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Zijin Mining Group Co ( (HK:2899) ) has provided an update.
Zijin Mining Group Co., Ltd. has been added to the U.S. Department of Homeland Security’s Uyghur Forced Labor Prevention Act Entity List, due to its operations in Xinjiang and alleged involvement in forced labor practices. The company strongly denies these claims, emphasizing its compliance with international labor standards and its commitment to voluntary employment practices. Zijin Mining states that the inclusion on the list is unlikely to impact its operations significantly, as it has no assets or sales in the U.S. The affected subsidiaries’ activities represent a minor portion of its overall business. Zijin Mining plans to engage with U.S. authorities to address these allegations and seek removal from the list.
More about Zijin Mining Group Co
Zijin Mining Group Co., Ltd. is a prominent player in the mining industry, specializing in the production and procurement of non-ferrous metals. The company has several subsidiaries based in Xinjiang, focusing on mining and mineral resources. Zijin Mining is committed to adhering to international labor and human rights standards, implementing responsible supply chain management, and maintaining competitive compensation policies.
YTD Price Performance: 8.33%
Average Trading Volume: 31,652
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $57.76B
See more data about 2899 stock on TipRanks’ Stock Analysis page.
