On July 13, Zijin Mining released its estimated 2025 interim results, projecting a net profit attributable to shareholders of approximately RMB 23.2 billion for the first half of the year, an increase of roughly 54% year-on-year. This half-year profit has already surpassed the company’s full-year 2023 earnings.

The strong performance was driven by continued growth in production volumes amid high metal prices. In the first half of the year, the company produced 570,000 tonnes of mined copper and 41 tonnes of mined gold, representing year-on-year increases of 10% and 17%, respectively. In particular, gold production grew rapidly, with its second-quarter output reaching 22 tonnes.

Alongside organic production expansion, acquisition continues to be a key driver of Zijin’s sustained growth. Despite elevated metal prices, there is no shortage of projects with attractive valuations in the market, keeping leading mining companies active with acquisitions. Zijin has also been seeking quality assets to fuel its production growth.

In April, the company completed the acquisition of a 100% interest in the Akyem Gold Mine in Ghana, which has an average annual gold output of 5.8 tonnes. In May, it closed the acquisition of a significant interest in Zangge Mining, gaining control over an A-share listed miner for the first time. The deal significantly boosted Zijin’s reserves of copper and lithium, added strategic potash resources, and gave it a majority interest in the Julong Copper Mine. In June, Zijin expanded its presence in Central Asia after a years-long hiatus, acquiring the Kazakhstan-based Raygorodok Gold Mine, a producing asset with an average gold output of 5.5 tonnes per annum.

Unlocking value at speed

Strong technical capabilities and deep expertise in project development and operations are among Zijin’s core strengths. For asset-heavy mining companies, fast project construction doesn’t just save time—it unlocks significant value.

A number of the company’s key gold and copper projects are making major progress. In gold, the company is improving mining efficiency and the supply of high-grade ore at the Akyem Gold Mine in Ghana to boost output. It is also enhancing mining and processing capabilities at South American assets such as the Rosebel Gold Mine in Suriname and the Buriticá Gold Mine in Colombia, to ensure annual production targets are met.

Meanwhile, the Haiyu Gold Mine in Shandong Province, in which Zijin holds a significant stake, completed the wet commissioning of its processing plant at the end of June, laying a solid foundation for the commencement of commercial production.

In copper, Phase 2 of the Julong Copper Mine in Xizang is progressing on schedule, with several key works completed ahead of plan in the first half of 2025. Phase 2 is expected to be completed and commissioned by the end of this year. In addition, the 500,000-tonne-per-annum copper smelter of the Kamoa-Kakula Copper project is scheduled for startup in September 2025.

Translator:Lin Xinjing   Reviser: Jian   Editor-in-Chief: Fa Yuan