Chinese mining giant Zijin announces 90% net profit growth in the first half of 2022, copper production jumps 70%

Editor’s Note: With such volatility in the markets, stay up to date with daily news! Get our quick roundup of today’s must-see news and expert opinion in minutes. Register here !

(Kitco News) – Chinese mining giant Zijin Mining Group announced yesterday that the company mined 410,190 tons of copper in the first half of 2022, which represents an increase of 70.47% compared to the same period last year. (1st half of 2021: 240,626 tonnes).

The company added that it mined 27,031 kg (869,078 oz) of gold in the first half of 2022, which represents an increase of 22.79% compared to the same period last year (1st half of 2021: 22,015 kg). ).

The company also mined 202,716 tons of zinc, up 3.23% compared to the same period last year (H1 2021: 196,365 tons), as well as 183,602 kg of silver, up 10 .12% compared to the same period last year (H1 2021: 166,725 tons). kg).

During the reporting period, the company earned an operating profit of RMB 132.458 billion (~USD 19.6 billion), an increase of 20.57% compared to the same period last year (H1 2021 : 109.863 billion RMB).

Importantly, the company said net profit attributable to parent company owners was RMB 12.630 billion (~US$1.9 billion), an increase of 89.95% over the same. period last year (H1 2021: RMB 6.649 billion) .

However, in its report, Zijin expressed concern about the global economic downturn and said prices for the company’s main metal products were under pressure.

Importantly, the company noted that geopolitical unrest has intensified, increasing global supply chain and industrial chain security risk.

Zijin Mining is a multinational mining group focused on the exploration and development of gold, copper and other mineral resources globally. The company has major mining investment projects in 12 overseas countries and 14 provinces (regions) in China.

Disclaimer: The opinions expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure the accuracy of the information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. This is not a solicitation to trade commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article accept no responsibility for loss and/or damage resulting from the use of this publication.

Comments are closed.