JINCHUAN INTL(02362): The mining business produced 44,024 tons of copper in the first three quarters.

JINCHUAN INTL (02362) announced that for the nine months ended September 30, 2025, the Group's mining business produced 44,024 tons of copper (in terms of copper content in electrolytic copper and copper concentrate), a decrease of approximately 67% compared to the same period in 2024 which saw 47,183 tons. This decrease was due to unstable power supply from the national grid of the Democratic Republic of the Congo (Congo (Kinshasa)) to the Ruashi mine, resulting in the temporary suspension of the solvent extraction-electrowinning (SX-EW) system in January 2025. As a result, copper production declined, but the Group increased the production of copper concentrate with higher copper content at the flotation plant to maintain overall production levels. To address the power supply issue, the Group has actively installed additional diesel generators, and the SX-EW system resumed operation in mid-May 2025. Due to the temporary suspension of the SX-EW system, the Group produced 71 tons of cobalt (in terms of cobalt content in cobalt hydroxide) during this period, a decrease of approximately 90.3% compared to the same period in 2024 which saw 735 tons. During this period, the Group sold 41,971 tons of copper (in terms of copper content in direct ore, electrolytic copper, and copper concentrate), a slight increase of 1.5% compared to the same period in 2024, which saw 41,368 tons. Due to the low cobalt production and an export ban implemented since February 2025, the Group did not sell any cobalt during this period, while 1,318 tons of cobalt were sold in the same period in 2024. The Group's Musonoi project recently started production, becoming the third operational mine in Congo (Kinshasa). According to the resource and reserve report as of December 31, 2023, the Musonoi project has reserves of 606,000 tons of copper and 174,000 tons of cobalt. Its mineral scale has exceeded the combined total of the existing Ruashi and Kinsenda mines in production. Additionally, the trading of the company's shares remains suspended.