Pulang Copper mine is the largest and one of the most advanced underground mines in China, according to Yunnan Copper. Pulang copper mine belongs to Diqing Non-Ferrous and is dominated by copper and accompanied by non-ferrous metals such as molybdenum, gold, and silver. The acquisition will further optimize the company's capital structure by integrating high-quality copper operations and improving profitability and market influence.
Yunnan Copper said its smelter Chifeng Copper had carried out an overhaul in the first half of the year, in response to investors' concerns about the main factors for the quarter-on-quarter profit growth in the third quarter. The smelter resumed production in the third quarter and produced normally according to the annual production plan, its capacity has been released, and its refined copper production and sales increased quarter on quarter. The company adopts a robust hedging strategy, following the corresponding futures and spot hedging. Due to the timing mismatch between futures and spots, some futures profits were reflected in the third quarter. The company's processing fees in smelting increased in the third quarter, but the company improved its profitability by accelerating inventory turnover and other measures.
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