Zijin Mining Faces Temporary Setback at Kamoa-Kakula Mine Due to Seismic Activity

An announcement from Zijin Mining Group Co ( (HK:2899) ) is now available.

Zijin Mining Group Co. has announced a temporary suspension of underground operations in part of the Kamoa-Kakula Copper Mine due to seismic activity, which caused structural issues but no injuries. The incident has led to a reduced capacity in the mine’s phase 1 and 2 concentrators, potentially impacting the annual production targets. The company is conducting a thorough investigation to assess the situation and develop improvement plans, while maintaining operations in other parts of the mine.

The most recent analyst rating on (HK:2899) stock is a Buy with a HK$23.50 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., Ltd. is a prominent player in the mining industry, focusing on the extraction and production of copper and other minerals. The company is involved in the Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo, where it holds a significant interest and contributes notably to its net profit.

Average Trading Volume: 68,636,757

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$525.5B

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