The Zhitong Finance App learned that Minmetals Resources (01208) fell more than 6% in early trading. As of press release, it decreased by 6.00% to HK$7.905, with a turnover of HK$706.61 million.

According to the news, Minmetals Resources disclosed the production report for the third quarter. The Group's total copper output for the quarter was 1312,000 tons, up 3% year on year, mainly driven by increased production from Kinseever and Khoemacau; total zinc production fell 5% year on year to 55,900 tons. Among them, Las Bambas copper concentrate production was 100,000 tons, a year-on-year decrease of 3%, which was affected by the decline in ore characteristics and selected grades of copper.

Furthermore, the risk of a potential strike at Chile's Escondida (Escondida) copper mine under BHP Billiton Group, the world's largest copper mine, has supported copper prices until now. However, the trade union in charge of the copper mine said that the two sides have reached a preliminary agreement, thereby reducing the risk of the world's largest copper mine facing an immediate strike. Two industry insiders said earlier that negotiators have reached a preliminary agreement, which is expected to be submitted to union members for voting approval.

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