Minerals price rise lifts Zijin Mining

Staff reporter

Zijin Mining (2899) said its 2021 net profit increased by 1.4 times year-on-year to 15.7 billion yuan (HK$19.3 billion) due to the surge in price of major mineral products. It proposed a dividend of 20 fens.

Operating income during the period jumped 31.3 percent to 225.1 billion yuan. The output of mine-produced copper last year increased by 29 percent to 584,000 tonnes, and that of mine-produced gold grew 17 percent to 47.5 tonnes, it said in an exchange filing yesterday.

The prices of major mineral products in the non-ferrous metal industry were rising in general.

Among its main mineral products, copper prices rose 24 percent and zinc prices by 27 percent. The gold price fell slightly by 3 percent last year. But it warned that its production and operation may be under greater pressure if the prices of mineral products fluctuate significantly this year.

Meanwhile, China Molybdenum (3993) increased its profit by 1.2 times to 5.1 billion yuan last year and declared an annual dividend of 7.125 fens.

Operating revenue climbed by 53.9 percent to 173.9 billion yuan, and basic earnings per share was 24 fens.

The company said the increase was mainly due to the rise in copper and cobalt market prices during the period, resulting in a significant increase in profits from operations.

It also proposed to change its English name to CMOC Group yesterday.