Zijin Mining Projects Up to 50% Surge in First-Half Net Profit
BEIJING – China’s largest gold and copper producer, Zijin Mining, anticipates a first-half net profit increase of up to 50%, the company announced in a trading statement on Monday.
Zijin Mining’s net profit for the first half of the year could reach as high as 15.5 billion yuan ($2.13 billion), a 50% year-on-year increase, driven by higher output.
The company expects gold output to rise by 9.6% to 35.4 metric tons, copper output to increase by 5.3% to 518,000 tons, and silver output to grow by 1.3% to 210.3 tons.
Global prices for gold and silver surged in the first half of the year as investors sought safe-haven assets amid geopolitical tensions. Copper also reached record highs in May due to speculative buying.
