HK Stock Market Move | CGN MINING (01164) rises over 4%; its mines produced a total of 642.4 tU of natural uranium in Q3; previously, the Zou mine under Orano commenced production as scheduled.

CGN MINING (01164) rose over 4%, up 4.15% as of press time to HK$2.135, with turnover of HK$30.9644 million. On the news front, CGN MINING announced that in the third quarter of 2026, the mines invested in by the Group produced a total of 642.4 tU of natural uranium, achieving 101.8% of the quarterly plan. Among them, Semizbay-U LLP (Semizbay), a Kazakh joint venture in which the Group holds a 49% stake, produced 160.5 tU of natural uranium; and Ortalyk LLP (Ortalyk), another Kazakh associate in which the Group holds a 49% stake, produced 481.8 tU of natural uranium. A China Great Wall research report noted that, based on the existing production capacity and production plans of the deposits operated by Semizbay and Ortalyk, CGN MINING's contracted sales volume in the current contract cycle is expected to have room for further improvement, and the Zou mine under Ortalyk commencing production as scheduled in July 2026 further strengthens the foundation for the company's volume growth. From an industry perspective, China Great Wall believes that the certainty and pace of new project implementation, together with the pace of retirement of existing mines, will jointly dominate the trend of the uranium price center going forward. The long-term supply pressure brought by the continued decline in existing supply has not yet improved significantly, and the uranium price center is expected to continue moving upward in this cycle.