The Zhitong Finance App learned that Power Development (01277) rose by more than 5%. As of press release, it had risen 5.41% to HK$2.045, with a turnover of HK$10.8257 million.

According to the news, Power Development announced that the Jinhongshi project was officially put into production on October 1, 2026. The rutile project is located in Rotifunk, Moyamba District, Sierra Leone. Minenet's mining license covers an area of about 117 square kilometers. According to data provided by Minenet, the rutile project area has reserves of about 4,532 million tons. The Group has exclusive rights to explore, mine, process and sell within the 50 square kilometers specified in the license.

According to the announcement, construction and commissioning of the first production line in the first phase of the Jinhongshi project has been completed and officially put into production on October 1, 2026. The second production line is expected to be completed in mid-October 2026, and the third production line is expected to be completed in early November 2026. The official commissioning of the Jinhongshi project marks the further diversification of the Group's overseas mining layout, and the entry of high-quality overseas production capacity into a new cycle of accelerated value release.

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