Zijin Mining Group (601899.SH): The Kamoa-Kakula copper mine in the Democratic Republic of Congo has temporarily suspended some underground mining.

Zijin Mining Group (601899.SH) issued an announcement recently that multiple mine tremors have occurred in the Kakula section of the Kamoa-Kakula copper mine under the company's management, with multiple roof falls in the eastern area of the mine, the cause of which is unknown. The management of Kamoa Copper Limited (hereinafter referred to as "Kamoa Copper") has decided to temporarily suspend underground operations in the area, with relevant personnel and some equipment evacuated from the underground working face. As of now, there have been no casualties. Due to the impact of the mine tremors, the Phase I and Phase II processing plants of the Kamoa-Kakula copper mine will temporarily operate at lower capacity, processing ore from surface stockpiles. As of April 30, 2025, there are approximately 3.8 million tons of ore in surface stockpiles, with an average copper grade of 3.2%. The Phase III processing plant of the Kamoa-Kakula copper mine and underground mining activities in the Kamoa section have not been affected. The Kamoa-Kakula copper mine produced 437,000 tons of copper in 2024, with a planned production of 520,000 to 580,000 tons of copper in 2025. The company holds a 44.45% equity interest in the project (including the equity corresponding to the company's ownership of Ivanhoe Mines). It is expected that the mine tremors will adversely affect the annual production target for the Kamoa-Kakula copper mine, and the specific impact will be further evaluated based on investigation results, with updates provided in the company's regular reports or interim announcements. Kamoa Copper is a joint venture of the company, and the Kamoa-Kakula copper mine contributed RMB 1.72 billion to the company's attributable net profit in 2024, accounting for approximately 5.37% of the company's net profit in 2024.