China's Zijin Mining Expects H1 Net Profit of ~39.1 Billion Yuan, Up About 68%

en.Wedoany.com Reported - Zijin Mining Group Co., Ltd. (601899.SH/02899.HK) released its semi-annual performance forecast on the evening of July 9, 2026, expecting to achieve a net profit attributable to shareholders of the listed company of approximately 39.1 billion yuan for the period from January to June 2026, an increase of about 15.8 billion yuan year-on-year, or approximately 68%. The expected net profit attributable to shareholders after deducting non-recurring gains and losses is about 37.9 billion yuan, an increase of about 16.3 billion yuan year-on-year, or approximately 75%. Among this, the net profit attributable to shareholders after deducting non-recurring gains and losses for the second quarter is expected to be about 19.4 billion yuan, a sequential increase of about 5% from the first quarter.

Zijin Mining Group Co., Ltd., founded in 2000 and headquartered in Shanghang County, Longyan City, Fujian Province, is a large-scale mining group primarily engaged in the exploration and development of metal mineral resources such as gold, copper, zinc, and lithium. It is China's largest gold producer and one of the largest copper mine enterprises, listed on both the Hong Kong and Shanghai stock exchanges. The company mainly focuses on the exploration and development of metal mineral resources including copper, gold, lithium, zinc, silver, and molybdenum, with operations spanning multiple countries and regions globally.

According to the announcement, during the reporting period, despite fluctuations in metal market prices and multiple external disturbances facing the industry as a whole, the company's main businesses progressed steadily. In the first half of the year, mined gold production reached 47 tons, up 15% year-on-year; mined copper production was 534,000 tons (including Kamoa's equity), down 6% year-on-year; mined copper production excluding Kamoa's equity was 480,000 tons, up 5% year-on-year; lithium carbonate equivalent production was 43,000 tons, up 514% year-on-year.

In terms of specific project progress, the Akyem Gold Mine and the Ruigodo Gold Mine, acquired by Zijin Gold International in 2025, continued to release incremental output; production at the Julong Copper Mine steadily increased. The lithium segment progressed smoothly, with the Manono Lithium Mine project in the Democratic Republic of the Congo achieving heavy media separation commissioning in May 2026, about one month ahead of the original schedule, and the first phase of the smelting project is planned to be completed and put into operation by December 2026; production capacity at the 3Q Salt Lake Lithium Mine, the Lagkor Co Salt Lake Lithium Mine, and the Xiangyuan Hard Rock Lithium Mine steadily ramped up. The Anhui Shapinggou Molybdenum Mine beneficiation project commenced construction in mid-June 2026, with an expected average annual molybdenum production of about 22,100 tons after reaching full capacity.

Zijin Mining stated that the significant increase in performance was mainly attributed to the steady rise in production of major mineral products, a substantial year-on-year increase in product sales prices, and a significant year-on-year increase in profits from precious and rare metals (molybdenum, tungsten, tin), sulfur concentrate, and sulfuric acid.

The data in this performance forecast are only preliminary accounting results. The specific and accurate financial data shall be subject to the company's officially disclosed 2026 semi-annual report.