HK Stock Market Move | CHINFMINING (01258) is now down more than 4% as Qianbihui mine is shut down for repairs. The company has lowered its copper production forecast for 2025.

CHINFMINING (01258) is currently down more than 4%, with a drop of 4.14% as of press time, trading at HK$13.89, with a turnover of HK$103 million. On the news front, CHINFMINING announced that at the end of June this year, there was damage and collapse of the inner wall of the sub-shaft of the Qianbishi Southeast mine in its subsidiary China Nonferrous Mining Africa, resulting in injury and death of a person. The company arranged for temporary cessation of production afterwards and conducted an expert on-site inspection and evaluation. It was found during the survey that the main and sub-shafts had long-term erosion and local cracks due to passing through multiple aquifers. The company stated that the repair work on the sub-shaft of the Qianbishi Southeast mine has been completed since September this year, and the repair of the main shaft is currently underway. It is expected that all repair work will be completed by mid-December this year, and the Qianbishi Southeast mine will be temporarily shut down during construction. As a result, the company has adjusted its full-year production plan for 2025, with the copper production from its own mines reduced from 160,000 tons to 140,000 tons.