HK Stock Market Move | Metallurgical Corporation of China (01618) rose more than 7%, institutions say the value of construction companies with abundant mineral resources urgently needs to be reassessed.

Metallurgical Corporation of China (01618) rose more than 7%, as of the time of writing, it rose by 6.94%, to 2.62 Hong Kong dollars, with a turnover of 271 million Hong Kong dollars. On the news front, Guosheng Securities stated that this year, with the economy bottoming out and the background of the Fed's interest rate cut cycle, the prices of major metals such as gold and copper have fluctuated upwards, and the non-ferrous sector continues to rise significantly. Building enterprises with abundant mineral resources urgently need to be reassessed in value. Metallurgical Corporation of China is strongly recommended. Industrial pointed out that with mineral resources empowerment, the company's valuation is expected to rise. The company currently owns 7 overseas mines, mainly focusing on nickel, cobalt, copper, lead, and zinc. Among the key mineral resources are: the Ramu nickel cobalt mine in Papua New Guinea, benefiting from the exploration and mining results within the exploration rights area, the estimated nickel resource volume of this project has further increased to 2.1146 million tons, and the cobalt resource volume increased to 0.2194 million tons; the Sandak copper gold mine in Pakistan, the project estimates hold 1.7913 million tons of copper resources; in addition, the development of the Saindak copper mine project in Pakistan and the Aynak copper mine project in Afghanistan is progressing in an orderly manner, which is expected to significantly contribute to the company's performance and increase the company's valuation level.