The Zhitong Finance App learned that Jinchuan International (02362) fell more than 7% at the end of the session. As of press release, it fell 6.67% to HK$0.84, with a turnover of HK$76.454,800.
According to the news, Jinchuan International announced that Ruashi SAS, a non-wholly-owned subsidiary, is in the process of applying for the renewal of the Musonoi project (copper-cobalt mine under development) mining license. In order to implement the renewal procedure, Ruashi Holdings held a share equivalent to 5% of Ruashi SAS and transferred it free of charge to the government of the Democratic Republic of the Congo (DRC). It is expected to be implemented on or before June 30. At that time, the Group's shares in Ruashi SAS were reduced from 75% to 70%.
It is worth noting that Jinchuan International previously announced its 2023 results, achieving revenue of about US$639 million, a year-on-year decrease of 28%; the company's owners should have accounted for a loss of US$115.58 million and a profit of US$1.028 million in 2022, changing from profit to loss over the previous year.