Zijin Mining earns record 21.1b yuan

June Chen

Zijin Mining (2899), a leading Chinese copper and gold miner, said its profit was up by 5.38 percent to 21.12 billion yuan (HK$22.85 billion) last year, hitting a new record high, thanks to climbing copper and gold prices.

The company thus announced a final cash dividend plan of 2 yuan per 10 shares, which means a total of 5.27 billion yuan will be paid to shareholders.

Its revenue also rose 8.54 percent year-on-year to 293.4 billion yuan last year, as the bulk metal prices, especially gold prices, were at a historical high, making the company's performance steadily upward.

Zijin Mining's capital expenditure last year also hit a record high of 30.4 billion yuan. The company continues to explore copper, gold, silver, and other major mineral resources as long-term reserves.

The company also achieved a breakthrough in mineral copper, becoming the only mining enterprise in China and Asia with mineral copper output exceeding 1 million tons, ranking among the top five in the world. During the reporting period, the company's mines produced 1.01 million tons of copper, an increase of 11.13 percent versus 2022.

Chen Jinghe, the chairman of Zijin, said that faced with global uncertainties and currency oversupply, gold is the "ballast stone" of financial security. The company's gold output will achieve continuous rapid growth with a batch of world-class gold assets.