Latest news with #ZijinMiningGroup
Yahoo
21-05-2025
- Business
- Yahoo
Ivanhoe temporarily halts operations at Kakula mine due to seismic activity
Canadian mining company Ivanhoe Mines has announced a temporary suspension of operations at the Kakula underground mine within the Kamoa-Kakula copper complex, located in the Democratic Republic of Congo (DRC), following recent seismic activity. Seismic disturbances in the eastern section of the Kakula mine prompted the management team of Kamoa Copper to halt underground operations on 18 May. The company has prioritised the safety of its workforce, ensuring all personnel were safely evacuated, with no injuries reported. Mobile equipment has also been removed from the site. The Kamoa-Kakula mining complex is operated by Kamoa Copper, a joint venture between Ivanhoe Mines and Zijin Mining Group, each holding a 39.6% stake, Crystal River Global, holding 0.8%, and the DRC Government, holding the remaining 20% stake. In response to the seismic events, senior management and geotechnical experts have initiated a comprehensive inspection of the affected area. The western section of the mine has been assessed and deemed safe, with operations expected to recommence shortly. However, the ongoing evaluation will extend to the eastern section to determine the potential impact on underground infrastructure such as pumping systems. The phase one and two concentrators at the mine are currently operating at reduced capacity, processing ore from existing surface stockpiles. The stockpiles, as of 30 April 2025, contain approximately 3.8 million tonnes of high and medium-grade ore with an average copper grade of 3.2%. Mining activities at the Kamoa underground mine and the operations of the adjoining phase three concentrator, which started commercial production in August 2024, remain unaffected by the seismic events at Kakula. "Ivanhoe temporarily halts operations at Kakula mine due to seismic activity" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Bloomberg
19-05-2025
- Business
- Bloomberg
Russia Says China's Zijin Agrees to Keep Siberian Zinc Mine Open
Russia's Tuva region said it has agreed with Zijin Mining Group to keep the Kyzyl-Tashtyg zinc mine working after sanctions prompted the Chinese company to weigh suspending operations. Zijin's Russian unit, which operates the Siberian zinc deposit, will cancel its earlier order to halt the mine from June following a meeting between local authorities and Chinese company's President Zou Laichang, according to a statement from Tuva Governor Vladislav Khovalyg published Monday.
South China Morning Post
11-02-2025
- Automotive
- South China Morning Post
Hong Kong stocks near 4-month high as trade war fears grip markets
Hong Kong stocks hovered around a four-month high on Tuesday, as investors weighed the impact of an escalating trade war after the US imposed tariffs on steel and aluminium imports. The Hang Seng Index fell 0.1 per cent to 21,508.58 as of 10.14am local time. The Hang Seng Tech Index dropped 1 per cent. On the mainland, the CSI 300 Index dropped 0.4 per cent and the Shanghai Composite Index retreated 0.2 per cent. Gold producer Zijin Mining Group gained 3 per cent to HK$16.62 after the price of the precious metal rose to a record. Carmakers Geely Automobile Holdings tumbled 7 per cent to HK$16.50, while Li Auto slid 4.4 per cent to HK$100.90 after US President Donald Trump said that his administration was considering levying an import duty on cars. Investors are treading cautiously following an escalation in the trade war, which has heightened geopolitical risks. Investors see Trump's tariff moves entrenching inflation that could delay interest-rate cuts by the US Federal Reserve. As a result, haven trade has taken hold, with traders flocking to gold. Elsewhere, major Asian markets were mixed. South Korea's Kospi rose 0.5 per cent, while Australia's S&P/ASX 200 lost 0.2 per cent. Japanese markets are closed for a public holiday.
