HK Stock Market Move | Zijin Mining Group (02899) rose more than 3% as the second phase expansion project of the Julong Copper Mine successfully conducted joint testing. The planning of the third phase project is also progressing synchronously.

Zijin Mining Group (02899) rose more than 3%, rising 2.64% to HK$35.04 by the time of reporting, with a turnover of HK$7.1 billion. On the news front, according to the official WeChat account of Zijin Mining Group, on December 29th, the main construction and core equipment installation of the second phase of the expansion project at the Ju Long copper mine in Tibet have been completed, and successful joint testing has been carried out, taking a critical step towards production. After the second phase is fully operational, it will add a capacity of processing 200,000 tons of ore per day. At that time, the total daily processing capacity of the first and second phases of Ju Long will reach 350,000 tons, equivalent to building another 1.3 "Ju Longs". It is also understood that the planning for the third phase of the Ju Long copper mine project is being advanced simultaneously. After the completion of the third phase project, the Ju Long copper mine will rank among the largest copper mines in the world in terms of mining and processing scale.