Zijin Mining revises copper production guidance downward

Zijin Mining Group Co., Ltd. (HKEX:2899) announced a downward revision of its 2025 mine-produced copper guidance for the Kamoa-Kakula Copper Mine, following seismic activity and subsequent flooding in May. The original production target of 520,000-580,000 tonnes has been adjusted to 370,000-420,000 tonnes. Partial underground mining operations were temporarily interrupted, impacting production volume. The company is working to restore full operational capacity, with dewatering efforts expected to commence in August 2025. Despite the reduced production volume, Zijin Mining expects the mine to maintain operational flexibility by resuming operations in other areas and utilizing stockpiles. The company estimates that Kamoa Copper contributed RMB1.72 billion to Zijin Mining's net profit attributable to owners of the parent for the year ended 31 December 2024. An independent third party will investigate the incident.