Zijin Mining reports 52pc profit jump

Zijin Mining (2899) reported a 51.76 percent year-on-year jump in net profit to 32.05 billion yuan (HK$34.38 billion) last year, as production and profits of main mineral products such as copper and gold hit record highs.

Operating income was 303.64 billion in 2024, up 3.49 from the previous year.

The board proposed a final dividend of 0.28 yuan per share.

The company produced 1.07 million tonnes of mine-produced copper, 73 tonnes of mine-produced gold, 450 thousand tonnes of mine-produced zinc (lead) and 436 tonnes of mine-produced silver. Among which, the year-on-year growth rates of mine-produced copper and mine-produced gold production were 6 percent and 8 percent, respectively.

China’s mine-produced copper output reached 1.64 million tonnes in 2024, with Zijin Mining representing approximately 65 percent of the total, according to the China Nonferrous Metals Industry Association.

Meanwhile, China’s mine-produced gold output amounted to 298.4 tonnes, of which Zijin Mining accounted for about 24 percent, according to data from the China Gold Association.

Sales from the copper business contributed 27.98 percent to total revenue, while the gold business accounted for 49.64 percent.

STAFF REPORTER