"It is now possible that Shaanxi will implement the strictest-ever regulations on illegal production, which would significantly reduce output in the province for the year," - Wood Mackenzie
While company denied media reports that it had sold Lumwana, it said that given the challenging conditions the mine was facing in Zambia, all options would have to be considered.
MOD also said it would raise about A$15 million via a share placement and rights issue, with the majority of the proceeds to be used to advance the T3 copper project in Botswana towards production.