Zijin Mining Sees 52% Profit Growth Amid Rising Copper and Gold Prices
Zijin Mining Group, China’s largest metals producer, reported a 52% surge in profit for the past year, driven by higher copper and gold prices, as well as increased production.
Net income rose to 32.1 billion yuan ($4.4 billion), while sales climbed 3.5% to 303.6 billion yuan, according to an exchange filing. The company had initially expected earnings to increase by 53%, reaching 32 billion yuan.
Over the past decade, Zijin has expanded aggressively, becoming a significant global copper supplier through major new projects in the Democratic Republic of Congo and China.
With rising concerns about the security of critical mineral supply, Zijin Chairman Chen Jinghe emphasized the company’s commitment to strengthening its global competitiveness and enhancing resilience to risks.
However, signs of a slowdown are emerging. In January, Zijin lowered its copper output target for the year by about 6%, down to 1.15 million tons.
The company’s efforts in lithium production have also struggled, with small volumes produced last year and a 60% reduction in its 2025 production goal, now set at 40,000 tons.
This decrease in copper output is partly due to growing resistance to Chinese acquisitions in Western markets, which has slowed its international expansion.
Despite this, analysts from Bloomberg Intelligence predict that Zijin will meet its five-year targets by 2028, including a potential 58% increase in copper production and a 62% rise in gold output.
22 total views , 1 views today
