Zijin Mining Group Co., Ltd. (2899.HK; 601899:SH; "Zijin Mining" or "The Company") announced its interim results for the six months ended 30 June 2022 ("Reporting Period"). The Company realised RMB132.46 billion in operating income, up 20.57% year-on-year, while net profit attributable to owners surged to RMB12.63 billion, representing an increase of 89.95% compared with the same period last year. The profit increase was largely driven by the completion of major mine projects, including Serbia Zijin Mining, Kamoa Copper in the Democratic Republic of the Congo (DRC) and Julong Copper in China, which have commenced production and reached their designated production capacities on schedule. During the reporting period, the production volume of mine-produced copper and mine-produced gold amounted to 410,000 tonnes and 27 tonnes, representing an increase of approximately 70.47% and 22.79%, respectively.Zijin Mining 2022 Interim Results Highlights:
For the six months ended 30 June 2022, the Group realised an operating income of RMB132.46 billion, representing an increase of 20.57% compared with the same period last year (same period last year: RMB109.86 billion).
For the six months ended 30 June 2022, the Group realised a profit before tax of RMB18.57 billion, representing an increase of 61.90% compared with the same period last year (same period last year: RMB11.47 billion).
For the six months ended 30 June 2022, the Group realised a net profit attributable to owners of the listed company of RMB12.63 billion, representing an increase of 89.95% compared with the same period last year (same period last year: RMB6.65 billion).
As of 30 June 2022, the Group's total assets was RMB271.57 billion, representing an increase of 30.19% compared with the beginning of the year (beginning of the year: RMB208.60 billion).
As of 30 June 2022, the Group's net assets attributable to owners of the listed company was RMB77.47 billion, representing an increase of 9.06% compared with the beginning of the year (beginning of the year: RMB71.03 billion).
CHEN Jinghe, Chairman of Zijin Mining, commented, "Our strong performance in the first half of 2022 is attributable to the strengths of the Company's global growth strategy. By leveraging Zijin Mining's strong financial resources and track record of mining expertise, we will continue to seek opportunities and add to our global asset mix. As the world races towards a 'net-zero' transition, we have also allocated resources globally to increase our competitiveness in new energy minerals. Looking forward, Zijin Mining will continue to work closely with in-country local communities and government authorities to ensure our mission of 'Mining for a Better Society'."
Heralding new energy minerals boom
With a 15% equity stake in the DRC Manono Lithium-tin project and the completed acquisition of Neo Lithium Corp and its flagship 3Q Lithium Project in Argentina, the Company has continued to prioritize new energy minerals such as copper, lithium and other metallic minerals. Zijin Mining currently owns over 10 million tonnes of lithium carbonate equivalent resources, with long-term development plans to boost annual production capabilities to over 150,000 tonnes per year, laying the foundation for becoming a leading lithium producer and meeting growing demand amid the global 'clean energy transition'.
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