Data: SHFE, DCE market movement (Feb 10)

Canadian exploration company Midnight Sun Mining has just announced the initial resource estimate for the central region of the Zambia-Congo Copper Belt: the Kajiba deposit, located in the dome area of the Solwezi project, is a small part of this shallow copper system. The deposit has proven reserves of 2.33 million tons with a copper grade of 1.41%, containing 72.4 million pounds of copper.

On the afternoon of February 6th Beijing time, the groundbreaking ceremony for the Komakao Copper Mine expansion project in Botswana was grandly held in Maun, Botswana. This project is the first major investment initiative launched by China Minmetals in the "15th Five-Year Plan" period, as well as the first significant resource expansion project. SMM anticipates that the first production of concentrate will occur in 2028. The copper output target for 2029 has been revised from the previous 40,000 metal tons to 100,000 metal tons, while the target for 2030 has been adjusted from 40,000 metal tons to 130,000 metal tons.

[Tongbao Energy: 2025 Thermal Power Generation Down 8.58% YoY, Wind Power Discloses Multiple Indicators] Tongbao Energy announced that its wholly-owned thermal power enterprise, Shanxi Yangguang Power Generation, recorded a Q4 2025 power generation of 1,510.92 million kWh, down 13.73% YoY; on-grid electricity of 1,363.32 million kWh, down 14.34% YoY; and an average on-grid tariff of 395.52 yuan/MWh, up 13.09% YoY. For the full year 2025, power generation was 5,646.48 million kWh, down 8.58% YoY; on-grid electricity was 5,092.51 million kWh, down 9.22% YoY; and the average on-grid tariff was 380.18 yuan/MWh, up 6.94% YoY, with the proportion of market-based trading volume at 100%, unchanged from the previous year.