Zijin Mining Sees Profit Soar by 68% on Gold, Copper, and Lithium Prices

Chinese mining giant Zijin Mining saw its first-half profit surge by 68% to 39.2 billion yuan, thanks in large part to higher prices for gold, copper, and lithium.

The company's operating income rose 16% to 194.2 billion yuan, while its profit before tax climbed 84% to 63.5 billion yuan.

Zijin's gross margin increased to 38%, with the mined-products margin rising to 69.3%. The lithium segment was particularly strong, with output jumping by 496% to 43,596 tonnes and average prices increasing by 132% to 163,427 yuan per tonne.

To maintain this momentum, Zijin is expanding its reserves through acquisitions and exploration, bringing the Julong Copper Mine expansion into production, and ramping up lithium projects across multiple locations.