Jiangxi Copper subsidiary accident: Investigation complete, penalties issued

Jiangxi Copper Co., Ltd. [SSE:600362] announced the findings of an investigation into an August 3, 2024, accident at its subsidiary, Shandong Hengbang Smelting Co., Ltd. The investigation, conducted by the Shandong Provincial People's Government, classifies the incident as a major work safety liability accident with evidence of concealment by the company. The report recommends that eight individuals face criminal charges, including executives and managers from Hengbang Smelting. Additionally, administrative penalties are suggested for Hengbang Smelting, its chairman, president, and other senior leaders (15 people). Jiangxi Copper stated it will implement comprehensive safety improvements and strengthen safety management to prevent future incidents.