Changes in Hong Kong stocks | China's Nonferrous Mining (01258) rose more than 4% to complete the issuance of US$300 million zero-interest convertible bonds, medium- and long-term copper production capacity is expected to double

The Zhitong Finance App learned that China's non-ferrous mining industry (01258) rose by more than 4%. As of press release, it had risen 4.41% to HK$16.74, with a turnover of HK$27.473,300.

According to the news, China Nonferrous Mining announced that all the prerequisites for issuing bonds in the subscription agreement have been met, and the issuance of bonds with a total principal amount of 300 million US dollars was completed on September 2, 2026. After deducting fees, commissions and other estimated expenses, the net proceeds from the bond issuance are estimated to be approximately US$300.5 million. The company plans to use all of the net proceeds to fund the construction of the No. 28 Shaft Sulphide Mine Resource Development Project in Luanxia, Zambia. Approval for the listing and trading of bonds on the Hong Kong Stock Exchange is expected to take effect on September 3, 2026. The company has obtained approval to convert its shares to be listed and traded on the Hong Kong Stock Exchange.

According to estimates by Open Source Securities, the company's medium- to long-term copper production capacity is expected to increase by 193,000 tons. By project, the Luanxia New Mine shallow project is expected to be put into operation in 2027, with an additional copper production capacity of about 12,000 tons; the Gangbov Mining Msesa ore body is expected to be completed and put into operation by the end of 2028, adding about 15,000 tons of copper production capacity; the Luanxia New Mine Deep Project, the Qianxi Wet Samba Copper Mine and Benkara Project are expected to be put into operation in 2029, contributing a total increase of about 108,000 tons of copper production capacity; the second phase of the Middle East Africa ore body is expected to be completed and put into operation in 2030, adding about 12,000 tons of copper production capacity; Southeast Orebody Phase III is expected to be put into operation after 2032, after production It added about 46,000 tons of copper production capacity.