HK Stock Market Move | ZHAOJIN MINING (01818) rose over 8% as international oil prices plummeted, marginally alleviating inflation concerns. The companys overseas projects have begun to release additional output.

ZHAOJIN MINING (01818) rose over 8%, reaching an increase of 8.59% to HK$23, with a transaction volume of HK$355 million. In news, according to market media reports, regional sources and U.S. officials indicated that the U.S., Iran, and Oman are "close to reaching" a temporary agreement to reopen the Strait of Hormuz, with the U.S. hoping to announce the completion of this temporary agreement on the 5th. Guoxin Futures pointed out that the U.S.-Iran negotiations have shown positive progress, with U.S. Treasury Secretary Janet Yellen stating that an agreement to reopen the Strait of Hormuz could be reached as early as Wednesday. International oil prices have sharply declined, alleviating concerns about inflation to some extent, and the market's expectations for multiple interest rate hikes by the Federal Reserve this year have been tempered. The U.S. dollar and U.S. Treasury yields have weakened marginally, providing support for precious metals. As of August 5, international gold prices surged past $4,100 per ounce during trading. CICC previously reported that ZHAOJIN MINING's gold mine construction in the maritime area is progressing steadily. Among them, Ruihai Mining's underground TBM is advancing efficiently, and the mineral processing system has successfully undergone water trial operations, showing initial industrial production capabilities. The company holds a 70% stake in the maritime gold mine, and it is expected that upon reaching full production, the gold output could reach 15-20 tons, with attributable production to the company estimated at 10.5-14.0 tons. In addition, the company is releasing incremental overseas projects, with the Abuja AGN gold mine successfully entering production, expected to average an annual output of 5.3 tons, while the construction of the Audelan Mining selection project is accelerating comprehensively.