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Zijin Mining's (2899) net profit for the first half of 2023 fell by 18.4 percent yearly to 10.3 billion yuan (HK$11.1 billion).

A cash dividend of 50 fens for 10 shares was proposed.

For the six months ended June 30, the company had operating income of 150.3 billion yuan, representing a year-on-year increase of 13.5 percent.

The company linked the decline in profit to heightened global geopolitical risks and an economic recovery that did not meet expectations.

Except for gold, the prices of metals like copper and zinc had downward pressure, leading to cost control and growth challenges for non-ferrous metal mining companies worldwide.

The cyclical retreat of copper and zinc prices led to a decrease in profit of 1.56 billion yuan.

The production capacity of the company's main mineral products steadily increased. The company's production volume of mine-produced copper was 490,000 tonnes, a yearly increase of 14.2 percent; gold was 32 tonnes, up 19.6 percent; zinc was 240,000 tonnes, up 5 percent; and silver was 490,000 tonnes, up 10.9 percent.

By June 30, Zijin's total assets was 326.6 billion yuan, and the net assets was 98.9 billion yuan.

Risks, downturn hurt Zijin Mining