Zijin Mining has announced its 2024 mid-year performance forecast, projecting a net profit attributable to shareholders of approximately 14.55-15.45 billion yuan, marking a year-on-year increase of 41%-50%.

The company's substantial profit growth is due to rising volume and prices of its primary minerals. In the first half of the year, Zijin’s mined gold production increased by 9.6% to 35.4 tonnes, and mined copper production increased by 5.3% to 518,000 tonnes.

In recent years, Zijin Mining has consistently increased  mineral production, leading to steady improvements in financial performance. The company recently climbed to 267th place on Forbes' Global 2000 list, advancing 511 places over the past five years. In May, Zijin unveiled a new five-year plan aiming to become a "green, high-tech, leading global mining company" by 2028. The plan targets top-three global rankings in copper, gold, and zinc production, with significant increases in lithium and silver output as well.

Zijin’s high capacity in research and exploration significantly reduce resource acquisition costs. About 50% of our copper and gold resources and over 90% of its zinc (lead) resources come from independent exploration, with unit costs notably lower than global peers. In the first half of this year, our Tibet Julong Copper Mine and Heilongjiang Tongshan Copper Mine increased its copper resources by 18.38 million tonnes and its reserves by 5.78 million tonnes, accounting for 14.2% of China's total copper reserves as of the end of 2022.

Zijin Mining is committed to long-term, stable growth by leveraging cyclethinking and capital instruments. In June, the company raised approximately $2.5 billion through an H-share offering, including $2 billion in convertible bonds and $500 million in equity placements. The issuance achieved many milestones and was significantly oversubscribed for convertible debt and placement. On the first trading day post-issuance, Zijin’s A-shares and H-shares performed strongly. This success will enhance the company's long-term investment value and reduce financial expenses, saving nearly 1 billion yuan annually by replacing high-interest U.S. dollar debt.

Translator:Jian   Reviser:  Florence   Editor-in-Chief: Wang Jie