HK Stock Market Move | CHINFMINING (01258) rose over 4% after completing the issuance of $300 million zero-coupon convertible bonds. Its medium to long-term self-owned copper production capacity is expected to double.

CHINFMINING (01258) rose over 4%. As of the time of writing, it has increased by 4.41%, trading at HK$16.74, with a turnover of HK$27.4733 million. In terms of news, CHINFMINING announced that all the conditions precedent related to the subscription agreement for the issuance of bonds have been fulfilled, and the bonds with a total principal amount of US$300 million were completed on September 2, 2026. After deducting costs, commissions, and other estimated expenses, the net proceeds from the bond issuance are expected to be approximately US$300.5 million. The company plans to use the entire net proceeds for the funding of the development project for the 28th vertical shaft at the Luanshya copper mine in Zambia. Approval for the listing and trading of the bonds on the Hong Kong Stock Exchange is expected to take effect on September 3, 2026. The company has also obtained approval for the listing and trading of the conversion shares on the Hong Kong Stock Exchange. According to estimates by KSY Securities, the company's mid-to-long-term copper production capacity is expected to increase by 193,000 tons. By project, the shallow project at the new Luanshya mine is expected to begin production in 2027, adding approximately 12,000 tons of copper capacity; the Msesa ore body of the Kambove mining firm is expected to be completed and start production by the end of 2028, adding about 15,000 tons of copper capacity; the deep project at the new Luanshya mine, the Qianbixi hydrometallurgical Samba copper mine, and the Binkala project are expected to begin production in 2029, contributing a total incremental copper capacity of about 108,000 tons; the second phase of the southeast ore body of China Molybdenum Africa is expected to be completed and start production by 2030, adding approximately 12,000 tons of copper capacity; the third phase of the southeast ore body is expected to start production after 2032, with an additional copper capacity of about 46,000 tons once fully operational.