In mid-April, CATL announced plans to invest 30 billion yuan to establish a wholly-owned subsidiary, Times Resources Group, registered in Xiamen and positioned as a professional investment, operation, and management platform in the new energy minerals sector. This major move is not only a key step for CATL in building a closed-loop entire industry chain of "ore — materials — battery — recycling," but will also inject strong momentum into the extraction and reuse of rare and precious metal resources, driving the battery recycling industry from standardized development toward a new phase of technological breakthroughs and scale expansion. The core mission of Times Resources Group is to integrate global critical minerals resources such as lithium, nickel, and cobalt, while expanding into high-quality rare and precious metal mining projects. From an industry perspective, lithium, nickel, and cobalt are core raw materials for power batteries, while rare and precious metals such as gold, silver, and platinum group metals are indispensable in electronic devices and catalysts. Through this 30 billion yuan capital deployment, CATL can both ensure that its primary lithium resources self-supply rate rises above 35% and keep lithium chemicals costs below 50,000 yuan/mt, while also establishing stable raw material connection channels for rare and precious metal regeneration after battery recycling through full industry chain control of mineral resources. More notably, CATL hired Chen Jinghe, founder of Zijin Mining, as a mining consultant, leveraging his extensive experience in mineral exploration and extraction to further optimize resource development processes. This means the upstream extraction segment will place greater emphasis on green and efficient technology applications, such as adopting efficient leaching technology for low-grade ore and comprehensive recovery processes for rare and precious metal associated ore, improving resource utilization rate from the source, laying the raw material foundation for rare and precious metal regeneration in subsequent battery recycling, and achieving synergy between "primary extraction + secondary recycling."

On April 15, a delegation from SMM Information & Technology Co., Ltd. (SMM), comprising Ye Jianhua, Director and Supervisor of SMM's Industry Research Department, Feng Chundi, Expert of SMM's Industry Research Institute, and Wu Tao, SMM's Overseas Marketing Manager for Copper and Tin, visited CNMC Luanshya Copper Mines PLC for an on-site survey and consultation. The delegation received a warm welcome from the leadership of CNMC Luanshya. During the exchange, relevant executives of CNMC Luanshya provided a detailed introduction to the enterprise's development history, equity structure, mining-beneficiation-smelting production layout, mineral resource endowment, and daily operational management of overseas mines. They particularly highlighted that the company's core product, "CLM" brand copper cathode, completed LME registration and certification on December 27, 2023. Backed by stringent quality control, the product has gained recognition in the international market, effectively enhancing its global circulation and core competitiveness. The SMM survey team, drawing on industry research and market tracking experience, shared insights on the operational status of the copper industry in and outside China, price trends, policy environment, and upstream and downstream supply-demand patterns. During the discussion, both parties engaged in communication on practical issues including changes in the international copper market, mining-beneficiation-smelting production and operations, responses to raw material and finished product market fluctuations, and overseas mining management models. The communication was conducted in a pragmatic and smooth atmosphere, deepening mutual understanding and laying a solid foundation for ongoing regular exchanges and business collaboration. Brief Introduction to CNMC Luanshya Copper Mines PLC CNMC Luanshya Copper Mines PLC, referred to as "CNMC Luanshya" in Chinese and abbreviated as "CLM," is a Sino-Zambian joint venture mining company restructured and established on November 10, 2009, after China Nonferrous Metal Mining (Group) Co., Ltd. (CNMC Group) participated in an international competitive bidding and successfully acquired the controlling stake in Luanshya Copper Mine that year. The company has a registered capital of $10.01 million, of which China Nonferrous Mining Corporation Limited, a subsidiary of CNMC Group, holds 80%, and Zambia Consolidated Copper Mines Investment Holdings PLC holds 20%. The company's main business covers copper resource mining, beneficiation, and smelting. Its primary products include copper cathode and copper concentrates, with an annual copper metal production of 50,000 mt. It is a large-scale comprehensive mining enterprise integrating geological exploration, mining, beneficiation, and smelting. The company currently holds seven large-scale mining licenses covering a total area of approximately 130 square kilometers. It operates multiple production units and projects, including the Muliashi hydrometallurgy smelter, beneficiation plant, Luanshya New Mine, and open-pit mine, making it one of CNMC Group's largest and most complete copper enterprises in Zambia in terms of investment scale and industry chain coverage. From its establishment in 2009 through the end of 2025, the company had cumulatively produced over 670,000 mt of copper metal, generated cumulative revenue exceeding $4.7 billion, achieved cumulative total profits exceeding $1 billion, and returned $220 million to shareholders, contributing 90% of GDP, 90% of tax revenue, and 70% of stable employment to the Luanshya region. is scheduled to be held on September 15-16, 2026 in Lusaka, Zambia. Your participation is warmly welcomed~ Conference Contact : Wu Tao: 18270916376 jennywu@smm.cn

On April 21, a delegation from SMM Information & Technology Co., Ltd. (SMM), comprising Ye Jianhua, Director and Supervisor of SMM's Industry Research Department, Feng Chundi, Expert of SMM's Industry Research Institute, and Wu Tao, SMM's Overseas Marketing Manager for Copper and Tin, visited Lualaba Copper Smelter S.A. (LCS) for a field trip and exchange. The delegation received a warm and thoughtful reception from the leadership of LCS. During the exchange, relevant heads of LCS provided a detailed introduction to the project's construction history, smelting process routes, current capacity operations, and overall business planning. SMM, drawing on global non-ferrous market trends, shared insights on copper-cobalt raw material supply and demand, the smelting and processing landscape, price fluctuation trends, and industry policy developments. Both parties engaged in in-depth discussions on practical topics including pyrometallurgy production management outside China, raw material supply assurance, environmental protection operations and maintenance, cost control, and industry outlook assessment. They also exchanged experiences and ideas on overseas smelter operations management, risk prevention, and medium and long-term development planning. This field trip and exchange was pragmatic and efficient, effectively enhancing mutual understanding and laying a solid foundation for ongoing industry information sharing and long-term exchange and cooperation. Introduction to Lualaba Copper Smelter S.A. (LCS) Lualaba Copper Smelter S.A. (LCS) is a modern non-ferrous metal smelting enterprise jointly invested and constructed by China Nonferrous Metal Mining (Group) Co., Ltd. and Chalco Yunnan Copper Group, located in Kolwezi, Lualaba Province, DRC. Construction commenced in March 2018, and Phase I was completed and successfully put into operation in October 2019. It is the first large-scale pyrometallurgy copper-cobalt smelter in the DRC and serves as a key strategic pillar of China Nonferrous Metal Mining Group's resource development and industrial deployment in Africa. With copper concentrates smelting as its core business, LCS's main products include blister copper, sulphuric acid, and liquid sulfur dioxide, with an annual capacity of 150,000 mt of blister copper and 300,000 mt of sulphuric acid. As an important participant in the Belt and Road Initiative, LCS has consistently upheld the development philosophy of "serving the nation through resources and pursuing win-win cooperation," actively fulfilling its social responsibilities, promoting local employment and industrial development, and striving to build an internationally competitive copper smelter while continuously enhancing the influence of Chinese mining enterprises in the global non-ferrous metals industry. The conference is scheduled to be held on September 15–16, 2026 in Lusaka, Zambia. You are cordially invited to participate! Contact Person : Wu Tao: 18270916376 jennywu@smm.cn

On April 14, a delegation from SMM Information & Technology Co., Ltd. (SMM), including Ye Jianhua, Director and Supervisor of SMM's Industry Research Department, Feng Chundi, Expert at SMM's Industry Research Institute, and Wu Tao, SMM's Copper and Tin Overseas Marketing Manager, visited Chambishi Copper Smelter Limited (CCS) for exchange and survey. The delegation received warm hospitality from CCS's leadership. During the visit, both parties engaged in pragmatic communication based on their respective core businesses. Leveraging its core strengths in non-ferrous metal price index R&D, industry chain big data monitoring, copper market analysis and forecasting, in-depth industry research, and global non-ferrous resource connectivity, SMM shared insights on international copper market operating logic and price trend analysis with the enterprise, in the context of the current global copper smelting supply-demand pattern, raw material procurement landscape, and TC fluctuation trends. As a core copper smelting producer outside China, CCS provided a detailed introduction to its production and operation status, smelting process advantages, capacity release pace, raw material procurement, and product exports layout, and elaborated on the practical experience of ex-China copper smelters in production management, cost control, green production, and localized operations. Meanwhile, both parties exchanged views on common industry topics including development pain points of the copper smelting industry outside China, raw material supply security, finished product circulation and trade, industry policy changes, and low-carbon smelting development trends. They also reached preliminary consensus on future directions such as industry chain information sharing, market data exchange, joint market analysis, and industry resource coordination, laying a solid foundation for deepening regular exchanges and promoting high-quality collaborative development of the copper smelting industry chain. Introduction to Chambishi Copper Smelter Limited (CCS) Chambishi Copper Smelter Limited (CCS) is the first large-scale modern pyrometallurgy copper smelting enterprise invested by China overseas, entirely self-designed and constructed. Located in the Zambia-China Economic and Trade Cooperation Zone, the company has 170 Chinese staff and 1,600 Zambian employees. The company has always focused on its vision of "building an internationally first-class smelting enterprise with enduring prosperity," upheld the corporate spirit of "self-transcendence, continuous breakthroughs, and pursuit of excellence," benchmarked against first-class standards with meticulous craftsmanship, and continuously strengthened and optimized enterprise management, with its comprehensive competitiveness steadily improving. As of the end of 2024, the company had produced over 3.3 million mt of copper products and 8.7 million mt of sulphuric acid, with cumulative sales revenue of approximately $21 billion, effectively driving local economic development in Zambia and becoming a shining pearl along the Belt and Road! Enterprise History and Development Achievements (Pursuing Excellence, Benchmarking Against the Best and Forging Ahead) To extend the industry chain and retain more added value locally, in 2006, China Nonferrous Metal Mining (Group) Co., Ltd. cooperated with Yunnan Copper to introduce the advanced ISA copper smelting process to Zambia, with shareholding ratios of 60% and 40% respectively. From the design stage, the Company drew on successful experience in China and incorporated the characteristics of Zambian raw materials to re-optimize and re-innovate the key processes and technologies of the ISASMELT process, strengthening system integration. This resulted in multiple innovative achievements, including "Integration Innovation and Application of ISASMELT Furnace" and "Comprehensive Automated Control System," which were awarded the First Prize for Scientific and Technological Progress by China Nonferrous Metals Industry Association (CNIA) in 2010. The ISASMELT furnace campaign life broke world records multiple times, with the second campaign reaching 218 weeks and the third campaign reaching 244 weeks, establishing an international benchmark. In 2021 and 2022, the Company's copper production exceeded the designed capacity of 250,000 mt for two consecutive years, making history. In 2024, production further surpassed 260,000 mt, setting a new historical record. In September 2013, the Company was honored with the title of Advanced Collective of Central State-Owned Enterprises. In July 2021, it was successfully selected as a Benchmarking Enterprise under the administration of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC). Process Flow (Dedicated and Professional, Striving for Excellence to Drive Development) The Company adopts the internationally advanced and mature process of "oxygen-enriched top-blown submerged bath smelting, electric furnace settling and separation, PS converter blowing, and anode furnace pyrometallurgy refining" to produce copper anode, and employs the "double-conversion double-absorption" process to produce sulphuric acid. Adhering to the concept of sustainable development, the Company has built a slag flotation recovery system with a daily processing capacity of 1,500 mt of furnace slag, and a bismuth recovery system with a daily processing capacity of 6 mt of flue dust, continuing to recover metals such as copper, cobalt, and bismuth from smelting slag and flue dust. Social Responsibility (Cooperation and Sharing, Giving Back to Society with Strong Responsibility) The Company actively practices its core values of "Dedication, Cooperation, and Sharing," consistently focusing on its core business of copper pyrometallurgy smelting, engaging in extensive cooperation with upstream and downstream clients, and sharing development achievements with employees and local communities. Since its establishment, the Company has cumulatively paid over $300 million in various taxes and fees in Zambia, created over 5,000 employment opportunities, and cooperated with more than 300 local suppliers, contributing to Zambia's green, harmonious, and shared development. The Company actively fulfills its social responsibilities by increasing investment in social welfare programs for local communities in Zambia, covering infrastructure, education, healthcare, and sanitation. These efforts include sponsoring the renovation of clinics in Kalulushi, supporting the Bushifire Orphanage, donating the construction of classrooms at Buyantashi School, Luato Market, Kankuko Bridge, Chibuluma Community Tennis Court, Chimfunshi Chimpanzee Rescue Center, and Modern Stars Football Club, among others. With a cumulative investment of over $4 million, the Company has earned high praise from local government and warm welcome from the public, establishing a strong corporate image. The Company actively promotes employee localization and continuously achieves skills transfer. The company invested over 5 million Kwacha, and externally carried out technical and non-technical training programs in electric welding, electrical power, pneumatics, technical control, management supervision, and equipment maintenance through the China-Zambia Vocational and Technical College, the TEVETA Fund, and other channels. Internally, through mentorship programs and other approaches, the company conducted business training in masonry, fitting, and other skills. The localization rate of the company's employees reached over 92%, the skills of local employees were significantly enhanced, and technical expertise was exported to the DRC. Vision and Outlook (Staying True to Our Original Aspiration, Building Tomorrow with a Shared Destiny) Innovation-driven development knows no bounds. Over the past decade and more, the company has upheld a sense of survival crisis and market competition awareness, adhered to innovation-driven development, and achieved high-quality growth. In 2021, the company's information technology infrastructure was completed and successfully put into use, with a commitment to building an automated, digitalized, and intelligent factory. In August 2023, the company's anode furnace pyrometallurgy refining system technical renovation project was completed and put into operation. In November 2024, the company's three-year action plan for technology-empowered safety and environmental protection was officially finalized, focusing on technology empowerment and fostering new quality productive forces, propelling the company's high-quality development to a new level. Through collaborative development, benchmarking against first-class standards, technological innovation, and increased production and efficiency, the company continues to advance toward its corporate vision of "becoming an evergreen, world-class smelter." The conference is scheduled to be held on September 15–16, 2026 in Lusaka, Zambia. You are cordially invited to participate! Conference Contact : Wu Tao: 18270916376 jennywu@smm.cn

This article explains the 2026 revision of Vietnam's Mineral Law, including adjustments to mineral classification, optimization of mining permit rules, and enhancements to mineral control. These changes may have a significant impact on mining enterprises, particularly those involved in metallic mining activities in Vietnam, possibly affecting areas such as business operations, policy and tax compliance, upstream mining, and open new opportunities in mineral recycling business.

The PSJ Cobre Mendocino copper project has applied for Argentina’s Large Investment Incentive Regime (RIGI), with planned investment of around $630 million. If approved, it would become the first major metal mining project in Mendoza province. The development could strengthen Argentina’s position in global copper supply.