Huatai Securities: Zijin Mining On Track to Meet Annual Copper and Gold Targets

Huatai Securities has released a research report suggesting that Zijin Mining remains on course to achieve its annual production targets of 1.11 million tons of mined copper and 73.5 tons of gold, supported by quarter-on-quarter growth in copper and gold production during the third quarter of 2024.

Zijin Mining also announced plans to acquire 100% of the Akyem gold mine project in Ghana, which produced 11.9 tons, 13.1 tons, and 9.2 tons of gold from 2021 to 2023, respectively. If successful, Huatai Securities believes this acquisition would be a significant step toward Zijin Mining's goal of producing 100 to 110 tons of gold annually by 2028.

As a leading copper mining company in China, Zijin Mining continues to operate steadily while actively expanding its footprint. Huatai Securities has set a target price of $19.01 for Zijin Mining's H-shares and maintained a 'Buy' rating for the stock.