Jinchengxin Sees Higher Copper Prices Amid Project Updates
Jinchengxin, a mining company, recently announced updates on its projects and operations. The company's stock price fell by 0.54% to 71.17 yuan per share on August 4.
The update included the Environmental Impact Assessment (EIA) for the Alacran Copper-Gold-Silver Mine in Colombia, which has received formal approval from the National Environmental Licensing Authority. The mine is expected to produce 797 million pounds of copper, 550,000 ounces of gold, and 5.35 million ounces of silver.
The company also announced that it will adopt underground mining for the eastern zone of the Lonshi Copper Mine in DRC, with a designed annual mining scale of 2.5-3.5 million tons. The mine is expected to reach full production in the fourth year after commissioning and have a total service life of 12 years.