Changes in Hong Kong stocks | Minmetals Resources (01208) rose nearly 3% in the intraday period, institutions expect Las Bambas mining area to produce more than 100,000 tons of copper in the fourth quarter

The Zhitong Finance App learned that Minmetals Resources (01208) rose nearly 3% in the intraday period. As of press release, it had risen 2.14% to HK$8.1 million, with a turnover of HK$201 million.

HSBC Research released a research report saying that Minmetals Resources' Las Bambas mine operated smoothly this season. Copper production is expected to exceed 100,000 tons in the fourth quarter of this year, and all on-site inventory will be sold before the end of the year. The expansion of the Kinseever mine is progressing smoothly as planned, and production at the Khoemacau mine is expected to increase on a quarterly basis as the operation of the new contractor stabilizes. The performance of the Dugald River mine and Rosebery mine remained stable during the quarter. Zinc prices rose due to seasonal factors as the overall environment in the commodity market was still optimistic and the supply of copper concentrate was tight.

HSBC Research also predicts that Minmetals Resources will achieve annual production guidelines of about 500,000 tons of copper and 230,000 tons of zinc this year, and its production is expected to increase moderately in 2026. However, given the limited increase in production, profits are still quite sensitive to changes in copper prices. It is expected that every 1% change in copper prices will cause profit changes of about 1.7% in 2026. The bank said that due to strong growth momentum in the fourth quarter, stable copper and zinc production and strong metal prices, production of Minmetals resources is expected to increase moderately in 2026, production in the Las Bambas mine is stable, and the increase in production in the Kinseever mine depends on electricity supply; it also maintains a “hold” rating due to improved copper fundamentals but limited room for short-term upside.