HK Stock Movement | CHINFMINING (01258) Drops Over 4% as Chambishi Mine Suspends Operations During Repairs, Company Lowers 2025 Copper Output Guidance

Stock News11-17

CHINFMINING (01258) fell more than 4%, trading at HK$13.89 by the time of writing, with a turnover of HK$103 million. The company announced that in late June this year, a subsidiary, NFC Africa Mining, reported damage to the inner wall of the auxiliary shaft at the Chambishi Southeast Orebody, resulting in a casualty. Temporary production suspension was implemented, followed by expert inspections and evaluations. Investigations revealed that both the main and auxiliary shafts, passing through multiple water-bearing layers, had suffered long-term erosion and localized cracking.

CHINFMINING stated that repair work on the Chambishi Southeast Orebody began in September, with the auxiliary shaft fully restored. The main shaft repairs are currently underway, with full completion expected by mid-December. During this period, production at the Chambishi Southeast Orebody remains suspended. Consequently, the company revised its 2025 production plan, reducing its self-owned mine copper output target from 160,000 tons to 140,000 tons.

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