People familiar with the matter said one of Indonesia's largest copper‑gold miners, Amman Mineral Internasional, is considering a secondary listing in Hong Kong.

China's A-share market showed divergent early trade. At midday the Shanghai Composite was up 0.76%, the Shenzhen Composite rose 0.61% and the ChiNext fell 0.65%. Innovative drug names led gains: Changshan Pharmaceutical +20%, with Zhongsheng Pharmaceutical, Joinn New Drug and Shuanglu Pharmaceutical hitting limit-up. AI application stocks were active; Fushi Holdings and Zhewen Interactive hit limit-up. Outperformers included film chains, baijiu, precious metals, property services and gaming; laggards included semiconductors, energy metals, brokerages, industrial gases, silicon carbide and lab-grown diamond concepts. More than 4,400 stocks advanced and half-day turnover exceeded CNY 2.18 trillion.

CSC Financial says recycled feedstock has tightened and recycler operating rates have fallen, prompting a downgrade to overall rare-earth output. SMM estimates June praseodymium‑neodymium (PrNd) oxide production fell about 6%, and the share of recycled PrNd oxide in total output dropped from 44% in May to 37% in June. Supply is broadly tight with little near‑term upside. On the demand side, European heat waves have lifted air‑conditioner sales—each unit uses roughly 0.1–0.2kg of rare‑earth permanent magnet—and magnet‑material makers, running low inventories, are expected to increase purchases ahead of the air‑con peak and a strong Q3 auto season. Rare‑earth prices are therefore likely to trend higher.