Zijin News, On October 19, Zijin Mining Co., Ltd. released its third-quarter financial report. In the third quarter, the company achieved a net profit contributed to major shareholders of 2.15 billion yuan, an increase of 86.72% over the same period last year. From January to September, the cumulative net profit contributed to major shareholders reached RMB 4.572 billion and the operating income reached RMB 130.434 billion, representing a year-on-year increase of 52.12% and 28.34% respectively, setting the highest level in the history of the company since its establishment.
At the same time, the company also announced the operating net cash flow from January to September of approximately 9.904 billion yuan, an increase of 63.52% over the same period last year.
In the first three quarters, the international gold price exceeded US$2,000/ounce , and the average price reached US$1735/ounce over the period, showing a strong growth momentum; the copper price first fell and then rose, with the average price reaching US$5849/ton. Zijin Mining has seized the opportunity to accelerate the transformation of its resource advantage into profitability, and realized 29.46 tons of mineral gold, 345.3 million tons of mineral copper, 244,400 tons of mineral zinc, and 217.74 tons of mineral silver. Among them, mined copper increased by 30.69% year-on-year and mined silver increased by 33.08% year-on-year.
In the first three quarters, the comprehensive gross profit margin of Sijing’s’ mining companies was 47.27%. Although affected by the extension of the Porgera gold mining rights the production of Porgera mine was suspended, the company's gold production in the first three quarters remained almost the same as the same period last year, and the substantial increase in unit price brought a gross profit increase of 12.27%. The price of copper was basically the same as the same period last year, but the output of mineral copper increased rapidly. Production increased by 81,000 tons year-on-year, among which the Duobaoshan Copper Mine, Kolwezi Copper Mine, and the Zijin Boer Copper Mine in Serbia increased rapidly. In addition, the company's silver production has increased significantly, bringing new contributions to profit growth.
Zijin Mining has greatly increased its resource reserves, with more than 2,300 tons of gold, 62 million tons of copper, and 10 million tons of zinc (lead). The company's market value exceeds 160 billion yuan, an increase of more than 40% from the beginning of the year. The company's global industry competitiveness and sustainable investment value continues to increase steadily.
In the next stage, Zijin Mining will seize the opportunity to accelerate the construction of the Congo (DRC) Kamoa-Kakula Copper Mine, Serbia's Timok Copper Mine, and the newly acquired Tibet Julong Copper Mine and other projects under construction, which will be put into operation next year. In addition, several gold production expansion projects being implemented will also bring growth to the company’s future profit.