Zijin Mining: H1 Net Attributable Profit Tops RMB 6.6 Billion
2021/08/01 4340

Zijin News - On July 30, Zijin Mining released Interim Report for H1 2021.

l  H1 revenue reached RMB 109.863 billion, up 32.14% YOY;

l  Earnings stood at RMB 11.47 billion, up 180.12% YOY; and

l  Net attributable net profit grew by 174.60% YOY, to reach RMB 6.649 billion, which is higher than our net attributable profit in 2020.

With prices of base metals running high in the first half of 2021, Zijin seized the opportunity to increase the production of our main products.

We produced 22 tonnes of gold (up 8.8% YOY), 240,000 tonnes of copper (up 4.3% YOY) and 200,000 tonnes of zinc (up 23.5% YOY). In terms of mineral production, mining assets and profits, our overseas projects account for about half of our group’s total, further expanding Zijin’s international footprint.

Much was accomplished in project construction. In the DRC, commercial production commenced at the Kamoa-Kakula Copper Mine’s Phase I Project. It will produce copper concentrate containing 80,000 to 95,000 tonnes of copper this year.

Phase 2 has begun construction in the first half of the year and is expected to start producing by Q3 2022. About 400,000 tonnes of copper will be produced every year after the two phases reach full capacity.

The Upper Zone of the Čukaru Peki project in Serbia has started trial production, which will produce about 40,000 tonnes of copper and 20,000 tonnes of gold this year. Studies are being conducted to use block caving in the Lower Zone of the project.

At the Qulong Copper Mine of Julong Copper in Tibet, construction of its Phase 1 project is in a key stage, and will be completed and come online by the end of the year. Phase 1 will have an annual average production of 160,000 tonnes of copper, and preparatory work for Phase 2 is well underway.

Zijin is building its own ESG system based on international standards and works to improve performance in key areas, to strengthen its capability in sustainable development amid global competition. ESG standards are being embedded into our operations systems, and emission reduction measures are being taken to meet key national standards.

Zijin pays close attention to safety and environmental protection – we have been increasing our level of intrinsic safety and building green, environment-friendly mines to international standards.

Based on the principle of shared development, we work to benefit more and more people through the existence of our group. We have also stepped up efforts in supervision and counter corruption, to build a clean, inter-dependent ecosystem with our stakeholders

We are building a diverse, global workforce, and are working to train and hire internationally competent, results-driven employees proficient in management skills, technology, and foreign languages.

In the second half of 2021, Zijin will:

l  Build on the good momentum to accomplish goals for production and operation;

l  Seize the opportunities to turn resources into social and economic benefits more quickly;

l  Lay a more solid foundation to sustain the growth of our global business;

l  Conduct further reforms to help build a global operations system with Zijin’s features;

l  Leverage the capital markets to create more value;

l  Develop Zijin’s model for sustained global development based on international practices; and

l  Build an internationally competent, high-caliber workforce on the basis of value creation.