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Express News | BlackRock's Long Position in H Shares of Zijin Mining Increases to 7.11% on Nov 12 From 6.49% - HKEX
Market Chatter: Zijin Confirms Illegal Mining Operations at Colombia Mine But Downplays Impact; Shares Rise 3%
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[Hong Kong Stock Connect] Zijin Mining Group (02899) rose by 4.02%. The safety of the Wulitikak Gold Mine is still under control, and gold production continues to increase.
Jingu Financial News | Zijin Mining Group (02899) fluctuated and strengthened, as of the time of publication, rose by 4.02%, reported at 15 Hong Kong dollars, with a turnover of 0.303 billion Hong Kong dollars. On the news side, Zijin Mining Group announced that the company has today noticed the translation of foreign media reports on the Continental Gold Inc. (referred to as "Continental gold") controlled by the company on some domestic media and self-media platforms. The Muratito Gold Mine, a subsidiary of Continental Gold, has been subject to illegal mining activities. There has been a long-term presence of illegal mining activities around the Muratito Gold Mine. After the acquisition was completed in March 2020, Continental Gold signed agreements with relevant departments of the Colombian government.
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How much gold has zijin mining group's guoge mine really been "plundered"? The issue of illegal mining may be difficult to resolve in the short term.
1. Over 3 tons of gold were robbed overseas, the 'suspicions' have not been completely clarified; 2. The illegal mining problem in the La Llanada gold mine in Colombia may be difficult to solve in the short term; 3. Nearly half of zijin mining group's assets are overseas, with a majority located in underdeveloped regions with weak political and economic stability.
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