Changes in Hong Kong stocks | CGN Mining (01164) fell by more than 8%, Kazakhstan or the New Deal Agency said it did not affect asset equity but affected valuations

The Zhitong Finance App learned that CGN Mining (01164) fell by more than 8%. As of press release, it fell 8% to HK$2.99, with a turnover of HK$193 million.

According to the news, the draft proposed by Kazakhstan to strengthen supervision of joint ventures in uranium mining has been passed by the lower house and is currently awaiting consideration by the Senate. The draft requires that while renewing the contract with the joint venture, Kazakh Yuangong stated that negotiations are currently under way with joint venture partners, and some partners have raised reservations about this proposal.

CMB International released a research report saying that given the tight supply of uranium over the next ten years, Kazakhstan's policy shift is actually not entirely unexpected. The bank pointed out that the new policy had little impact on CGN mining's ownership of reserves. However, it may cause uncertainty about the target multiple for this line. The target valuation will remain unchanged for the time being, but we will continue to monitor the progress of policy changes.