Zijin Mining (HKG:2899, SHA:601899) is looking to invest in other metals such as tungsten and uranium through its Gold Mountains Asset Management subsidiary, Bloomberg reported Thursday, citing portfolio manager and managing director Lisa Liu.
Gold Mountains holds $6 billion in assets under management, with around 75% in gold and the rest in other metals such as copper, lithium, and uranium, the report said.
Zijin's subsidiary is also looking into rare earth mines, but they could be very expensive and could take a long time to produce returns, the report said.
Shares plunged 8% in Hong Kong and 7% in Shenzhen during afternoon trading on Thursday.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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