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The latest update is out from Zijin Mining Group Co ( (HK:2899) ).
Zijin Mining has signed a project cooperation and equity interest transfer agreement with Jinduicheng Molybdenum for the integrated development and deep processing of the Shapinggou Molybdenum Mine in Anhui Province. Under the deal, Jinduicheng Molybdenum will partner with Zijin-controlled Anhui Jinsha Molybdenum to set up a new smelting company near the mine, with Jinduicheng holding 51% and leading construction and operations, while Jinsha holds 49%, aligning smelting capacity with the mine’s development. In parallel, Zijin will sell a 24% stake in Jinsha Molybdenum to Jinduicheng for RMB 1.73087 billion, after which Zijin (or its subsidiaries), Jinduicheng, and Jinzhai Urban Development Investment Co. will hold 60%, 34%, and 6% of Jinsha, respectively, with Zijin retaining operational control of the mine. The agreement includes strict timelines for Jinduicheng to establish and fund the smelting company by December 2026 and grants Zijin a buy-back right at a capped price if the smelting project is not developed as agreed, providing operational safeguards while deepening industrial cooperation and value-chain integration around the Shapinggou asset.
The most recent analyst rating on (HK:2899) stock is a Hold with a HK$42.00 price target. To see the full list of analyst forecasts on Zijin Mining Group Co stock, see the HK:2899 Stock Forecast page.
More about Zijin Mining Group Co
Zijin Mining Group Co. is a major Chinese mining company engaged in the exploration, development, and production of mineral resources, with a portfolio that includes metals such as gold, copper, and molybdenum. The company focuses on large-scale, integrated mining projects in China and overseas, aiming to enhance its position in the non-ferrous metals sector through vertical integration and strategic partnerships.
Average Trading Volume: 59,283,178
Technical Sentiment Signal: Buy
Current Market Cap: HK$1127.1B
Find detailed analytics on 2899 stock on TipRanks’ Stock Analysis page.