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Zijin Mining: 2020 Net Profit Estimated at RMB 6.45bn ~ RMB 6.65bn
2021/01/31 1829

On January 29, Zijin Mining released an announcement on the estimated increase in our operating results for 2020. Net profit attributable to shareholders of the listed company in 2020 is estimated between RMB6.45 billion to RMB6.65 billion, up RMB 2.166 billion to RMB 2.366 billion year on year, or 50.56% to 55.23%.

The announcement also stated that in 2020, sales prices of our mined gold, mined copper, mined silver and iron ore concentrate increased year on year, while that of mined zinc and mined lead declined. Against this backdrop, Zijin Mining produced 40.4 tonnes of mined gold (down slightly by 1.07% YoY), 456,000 tonnes of mined copper (up 23.29% YoY), 378,000 tonnes of mined zinc and lead (down 7.38% YoY), 298.7 tonnes of mined silver (up 13.49% YoY), and 3.86 million tonnes of iron ore concentrate (up 9.35% YoY).

In the beginning of 2021, Chairman Chen Jinghe of our Group, in his New Year’s Message, said: “in 2020, under extremely difficult circumstances, Zijin Mining achieved leapfrog growth. We managed to deliver better-than-expected results despite the COVID-19 pandemic.” He also set the tone for our development in 2021 and beyond in that message.

On January 29, our board of directors considered and approved the “Guiding Opinion on the Work of the Company in 2021”, setting production targets for our main products this year: 53 to 56 tonnes of mined gold, 540,000 to 580,000 tonnes of mined copper, 450, 000 to 480, 000 tonnes of mined zinc and lead, 240 to 300 tonnes of mined silver, and 3.5 to 3.8 million tonnes of iron ore concentrate. Our priorities were also laid out in it:

l  To build a globalized operations and management system, in a step-by-step way;

l  To complete major construction projects on schedule, in an effort to translate our advantages in resources into socio-economic returns;

l  To boost our core competitiveness and our capability for sustainable development.