On October 26th, Zijin released its third quarter results. For the period from January to September 2018, Zijin’s total assets was RMB91.266 billion, a 1.91% increase YOY. The revenue hit RMB76.173 billion, up 22.90% YOY. The net profit attributable to the parent company was RMB3.352 billion in aggregate, which neared last year’s profit of RMB3.508 billion, representing an increase of 51.40% YOY.
At the same time, Zijin made provision for certain assets with indication of impairment, to objectively reflect the future operation of its assets. The impact of provision for impairment on assets on net profit attributable to parent company in the first three quarters of 2018 was RMB496 million.
Owing to the hikes in both production and sales volume and market prices of the key metal products including copper, zinc, etc. Zijin has seen its performance significantly enhanced YOY. Meanwhile, in order to realize a stable and sustainable development, Zijin has extensively increased the utilization of low-grade mineral resources and therefore improved the resources usage on a comprehensive scale.
During the reporting period, except for the slight decline in the production of mined gold, Zijin has achieved substantial growth in both mined copper and mined zinc. The production of mined copper was 182,500 tons and that of the mined zinc was 219,400 tons, with an increase of 19.41% and 7.79% YOY respectively.
In recent years, Zijin has continuously played a leading role in terms of gold and copper resources in China, and its production of mined gold, copper and zinc ranks tops 3 in domestic mining industry. Based on its available announcements, Zijin’s copper production capacity will continue to increase, especially the mines in Kolwezi and Duobaoshan projects; in the meantime, the construction of Kamoa copper mine is going on as scheduled.