Economic Observation Network Jiangxi Copper Industry Co., Ltd. (00358. HK) has completed the consolidation of Sol Gold, and the Cascabel project has considerable copper and gold reserves. At the same time, there are related risks in the provision of asset impairment of 2.9 billion yuan in the first half of the year.

Progress of Asset Acquisition:
The Cascabel project (12.2 million tons of copper and 865 tons of gold) has been acquired and completed, and the pace of capacity release in the future is worth paying attention to

Related risk warning:
In the first half of the year, a provision of 2.9 billion yuan was made for asset impairment (mainly due to inventory depreciation). If copper prices experience a temporary correction, the pressure for impairment will still remain The smelting processing fee TC/RC is deeply negative, and the tight mining end has a certain erosion on smelting profits 。

The above content is based on publicly available information and does not constitute investment advice.