Zijin Ranks 4th Globally in Copper Production and Top 10 in Performance in H1 2023
2023/10/08 3811

According to consolidated production figures of major global mining companies, Zijin Mining ranked 4th globally in mined copper production (490,000 tonnes) in the first half of 2023, which makes it the only Chinese company among the world’s top 10 copper producers. Industry media Kitco also ranked Zijin Mining 4th globally based on attributable copper output in the first half of the year.

In addition, Zijin Mining’s key financial performance indicators remained in the top 10 worldwide for the first half of the year. The company’s operating income ranked 4th globally, climbing one spot from the same period last year. Meanwhile, its net profit attributable to shareholders ranked 8th globally, rising two spots from the previous year.

In the first half of 2023, the world’s top 15 copper mining companies produced a total of 6.3 million tonnes of copper, a year-on-year increase of 2.4%. These companies accounted for 58% of global copper production, with Zijin contributing 491,000 tonnes, up two places to rank 4th globally. Freeport-McMoRan ranked 1st with 922,000 tonnes of consolidated copper production, while Anglo American had the fastest growth rate, increasing by 41.8% to reach 378,000 tonnes.

M&A were active in the global copper industry in the first half of 2023, with large mining companies actively seeking to increase investments in the copper sector. High-premium acquisitions were frequent, highlighting the increasing market demand for high-quality copper assets.

In recent years, with the commissioning and steady production of major copper mines such as Kamoa-Kakula, Zijin has been a major contributor to global growth in copper production, becoming the company with the fastest growth and the highest increment in global copper output. The company contributed 40% of the global increase in copper production in 2022 and is expected to exceed the guidance of 950,000 tonnes of copper for the entire year of 2023. By 2025, Zijin aims to achieve a copper production of 1.17 million tonnes.

Translator: Jian     Reviser: Li Yuanxing   Editor-in-Chief: Wang Jie