Revenue reached RMB 230.4 billion, with a net profit attributable to the parent company of RMB 24.4 billion from Q1 to Q3 2024, reflecting a 51% increase year-over-year.
Gold output totaled 54 tonnes, copper 790,000 tonnes, and zinc 310,000 tonnes, with increases of 8% in gold and 5% in copper.
During this period, Zijin Mining leveraged technological innovation and value chain synergies to boost endogenous growth through an effective, holistic management system. Benefiting from high metal prices, the company markedly enhanced profitability and cost management. Notable financial metrics such as total profit, net profit attributable to the parent company, operating cash flow, and earnings per share all surged by over 40%. The debt ratio saw a decline of 4.28 percentage points from the beginning of the year, indicating ongoing improvements in capital structure. Mining operations posted a gross profit margin of 57.7%, up 7.4 percentage points year-over-year, while the overall gross margin reached 19.5%, an increase of 4.4 percentage points.
Driven by favorable market conditions, Zijin Mining has expedited the conversion of resource advantages into operational benefits. Key projects such as the Sawaya’erdun Gold Mine in Xinjiang went into production, elevating the outputs of Zijin’s main commodities.
According to Bloomberg’s October report, “China's Fast-Growing Copper Champion is Reshaping Global Metal Supply,” “…Zijin is emblematic of a coterie of Chinese companies — both private and state-owned — changing the global metals landscape by generating a wave of mine supply, outpacing others with innovation and billions of dollars of investment...”
Goldman Sachs analysts Joy Zhang, Trina Chen, Jolin Liu, and Fiona Ye noted in their report in the same month that Zijin Mining represents the resilience of Chinese producers – its competitive moat will drive further growth over the next decade, maintaining its resilience through market cycles.
Translator:Lin Xinjing Reviser: Jian Editor-in-Chief: Wang Jie
Sobre Zijin Mining
Zijin Mining es una empresa líder mundial en el sector de metales y minería, y uno de los mayores productores globales de oro, cobre y zinc. Con más de 30 operaciones y proyectos mineros de gran escala distribuidos en 19 países y 5 continentes, la compañía aprovecha sus sólidas capacidades internas de investigación, ingeniería y desarrollo para mantener una alta eficiencia operacional y bajos costos, tanto en adquisiciones como en operaciones.
Este enfoque le ha permitido consolidarse como referente en la creación de valor, respaldado por su filosofía de desarrollo compartido y sustentado por un desempeño superior en materia ambiental, social y de gobierno corporativo. Las acciones de Zijin cotizan en la Bolsa de Hong Kong (HKEX: 2899) y en la Bolsa de Shanghai (SSE: 601899).