n  Net Profit Attributable to Shareholders of the Parent Company: RMB 32 billion, an increase of approximately 51.5% from the previous year

n  2024 Production Highlights:

     Mined Copper: 1.07 million tonnes, a year-on-year growth of about 5.94%

     Mined Gold: 73 tonnes, a year-on-year increase of around 5.04%

n  2025 Production Guidance:

           Mined Copper: 1.15 million tonnes

           Mined Gold: 85 tonnes

           Mined Zinc/Lead: 440,000 tonnes

           Lithium Carbonate Equivalent: 40,000 tonnes

           Mined Silver: 450 tonnes

     Mined Molybdenum: 10,000 tonnes

On January 21, Zijin Mining announced its results estimates for 2024, projecting a net profit attributable to shareholders of RMB 32 billion. This marks an increase of approximately RMB10.88 billion, or 51.5%, from the previous year, starting its new five-year journey on a strong note.

The company seized favorable opportunities in the metals market, unlocking production capacity and maintaining high output of key metals. In 2024, mined copper production rose to 1.07 million tonnes, up from 1.01 million tonnes in 2023. Gold production capacity increased further, with output reaching 73 tonnes in 2024 compared to 68 tonnes in 2023. The growth in gold output was driven by the newly operational Sawaya’erdun Gold Mine and expansion projects across multiple operations, including the Buriticá Gold Mine in Colombia, Rosebel Gold Mines in Suriname, and Longnan Zijin in China.

Strong Start for 2024-2028 Growth

By the end of 2024, Zijin Mining’s market capitalization reached RMB 401.9 billion, a 25% increase year-on-year, ranking it 26th on the A-share market. According to MINING.COM’s ranking at the end of 2024, Zijin Mining stands fourth globally among the world’s most valuable mining companies, only after BHP, Rio Tinto, and Southern Copper.

The company has made significant strides in cost management, particularly in its overseas segment. Over the past two years, it effectively curbed cost increases by leveraging technological innovation, its integrated capabilities in research, engineering and construction, and its in-house technological and managerial expertise across the mining value chain. In 2024, Zijin enhanced its global operations and management system: At the headquarters, the Overseas Operations Management Committee strengthened top-level strategic planning, oversight and coordination, while the Overseas Operations Department and the Overseas Operations Center were moved to Belgrade, Serbia. These initiatives have boosted its capabilities to manage overseas assets.

Meanwhile, the company continued to cement its foundation for sustainable development, achieving substantial growth in its resource base through independent exploration and counter-cyclical acquisitions. Notable discoveries include the addition of 14.726 million tonnes of copper resources at the Julong Copper Mine. As recognized through government filings, Julong now holds 25.88 million tonnes of copper resources positioning it as the largest copper mine in China. Furthermore, additional copper resources of 3.65 million tonnes were validated at the Tongshan Mine of the Duobaoshan Copper Project. In Serbia, Malka Golaja, a large, relatively high-grade copper-gold deposit, was identified along the Timok Metallogenic Belt. Concurrently, a large, high-quality hard-rock lithium deposit was discovered in the northeastern section of the Manono Lithium Mine in the Democratic Republic of Congo.

Zijin also pursued acquisitions of quality assets. In October 2024, it offered to acquire a large producing project in Ghana, the Akyem Gold Mine, set to become another flagship gold operation of Zijin after the deal is completed. In November 2024, it took over the La Arena Copper-Gold Mine in Peru, closing the transaction swiftly after passing Canada’s national security review and obtaining necessary approvals, further enhancing its resource base.

At the beginning of 2025, Zijin Mining proposed to acquire the controlling interest in Zangge Mining for RMB 13.7 billion, which would strengthen its China portfolio and grant it absolute control over the Julong Copper Mine. The deal would also add potash to its business and expand its lithium resources.

With a robust, world-class asset portfolio, Zijin Mining will further unleash production capacity, transforming resources into economic and social benefits at a faster pace.

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