Zangge Mining's Net Profit Doubles to 3.64 Billion Yuan Amid Strong Segment Performance

Zangge Mining, a Chinese mining company, reported a significant surge in its first-half net profit, more than doubling to 3.64 billion yuan ($540 million) year-over-year.

The company attributed this impressive growth to the synergistic strength of its three major segments: potassium, lithium, and copper.

In the potassium chloride business, production reached 510,300 tons, with sales of 525,300 tons. The average selling price (tax-inclusive) was 3,055.25 yuan per ton, a year-on-year increase of 7.40%, while the average cost of sales dropped to 975.75 yuan per ton.

The lithium carbonate business delivered an even more impressive performance, with first-half production reaching 5,400 tons, and sales of 3,990 tons. The average selling price (tax-inclusive) reached 164,900 yuan per ton, while the average sales cost was only 42,200 yuan per ton.

The associate company, Julong Copper, contributed significantly to Zangge Mining's earnings explosion this period, with substantial investment income from rising copper prices and capacity release following the completion of the Julong Copper Mine Phase II.