Chinese mining giant Zijin announces 151% net profit growth in 9M 2021, ups production of all metals

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(Kitco News) - China's Zijin Mining Grouptoday announced that in the nine months period ended 30 September 2021 (9M2021), the company's net profit was RMB14.5 billion (~$2.3 billion), 151%higher than in the same period last year.

In 9M 2021, the company'smine-produced gold of 34,457 kg was 17% higher than a year before, itsmine-produced copper of 408,113 tonnes was 18% higher than a year before, whilemine-produced zinc of 285,437 tonnes was 17% higher and silver output of233,641 kg was 7% higher than in 9M 2020.

During the reporting period,the group realised an operating income of RMB168.976 billion (~$26 billion), representingan increase of 29.55% compared with the same period last year (same period lastyear: RMB130.434 billion).

For the first three quartersof 2021, the overall gross profit margin of Zijin's mining entities was 59.23%,representing an increase of 11.96 percentage points compared with the sameperiod last year (same period last year: 47.27%).

Zijin Mining is amultinational mining group dedicated to exploration and development of gold,copper and other mineral resources globally. The company owns significantmining investment projects in 12 overseas countries and 14 provinces (regions)in China. It is one of the Chinese companies owning the largest metal resourcesvolume, controlling the largest reserve volumes of copper and gold resourcesoverseas.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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