Tag: Zijin Mining

Zijin Mining Announces 2022 Interim Results: Achieved 89.95% Increase in Net Profit Attributable to Owners

Zijin Mining Group Co., Ltd. (HKG:2899; SHA: 601899; 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’.

Construction at the 3Q Lithium Project has accelerated and first-stage trials of brine mining and solar evaporation have been concluded. Completion of the 3Q Project and commercial production is planned for the end of 2023. The Company has also accelerated the construction and development of the Lakkor Tso project and Xiangyuan project, with the Company having finalised a 70% acquisition of the former and is near completion on a 71% acquisition of the latter.

Increased investment to tackle global climate change
During the reporting period, the Company prioritized strict controls of pollution emissions. SO2 and NOx emissions intensity by revenue decreased by 25.59% and 4.22%, respectively. The Company’s investment in environmental protection measures also continued to increase during the first half of 2022, amounting to RMB577 million, of which RMB271 million was used for ecological restoration, representing an increase of 67% compared with the same period last year.

Zijin Mining’s efforts at the Kamoa-Kakula Mining Complex in the DRC have also ensured the project is on track to become one of the world’s ‘greenest copper producers’. With RMB120 million already invested as of the end of 2021, the Company continues to enhance and invest in the rehabilitation of the Mwadingusha, Inga G25 and related networks to realise the overall electrification of the mining fleet, and further reduce the GHG emissions per tonne of copper produced from the project.

During the reporting period, the Company obtained a 25.04% equity share in Fujian Longking Co., Ltd. (Longking) and secured controlling rights through corporate governance and other arrangements. Zijin Mining aims to leverage this new acquisition’s leading environmental management service expertise to further minimize the Company’s global carbon footprint; and promote Longking’s strategic ‘environmental protection + new energy’ transformation to achieve greater industrial synergy.

During the reporting period, the Company continued its biodiversity and restoration efforts, with a total area of restored vegetation amounting to 7.92 million m2, and over 839,000 trees planted.

Mining for a Better Society
Adhering to the United Nations Sustainable Development Goals, Zijin Mining remains steadfast in promoting its core value of ‘Mining for a Better Society’. The Company’s efforts have been widely applauded for its contributions to the social and economic development of local communities and host countries where projects are located.

With global operations, the Company has continued to deliver on its social development and responsibility commitments, including the USD4.4 million development plan for the Musonoie community in the DRC and support of the ‘Sustainable Livelihoods Program’ at the Kamoa-Kakula Mining Complex providing approximately 12,000 community members with clean water. Zijin Mining also supports the coffee growers of Western Antioquia, Colombia, through training, construction of infrastructure and maintenance of coffee plantations, helping coffee-growing families increase their scale and ability in ‘going abroad’. In Serbia, the Company also maintains investments for environmental protection and community support, amounting to over USD200 million since 2018. During the reporting period, the Company also launched the ‘For a Better Future Program’ to support local Serbian students, by offering scholarships and providing school supplies.

ZOU Laichang, President of Zijin Mining and Director of the ESG Management Committee, commented, “We have made significant steps towards our goal of ‘Mining for a Better Society’ as Zijin Mining strives for even higher-quality sustainable development. The Company actively promotes local industries, local employment and local procurement policies across our global network, aiming to contribute to global economic growth and supporting the betterment of all people in all countries.”

* USD1 = RMB6.7423

Zijin Mining Reports Annual Results for the Year Ended 31 December 2020

 Zijin Mining Group Co., Ltd. (SSE:601899, SEHK:2899) is pleased to announce audited consolidated annual results for the Company and its subsidiaries (the “Group”) for the year ended 31 December 2020 (the “Period”).

Group results for the period are summarized as follows:

— Operating income of RMB 171.501 billion, an increase of 26.01% compared with 2019 (RMB 136.098 billion).

— Profit before tax of RMB 10.846 billion, an increase of 55.51% compared with 2019 (RMB 6.974 billion).

— Net profit attributable to owners of the company of RMB 6.509 billion, an increase of 51.93% compared with 2019 (RMB 4.284 billion).

— Total assets were RMB 182.313 billion as of 31 December 2020, an increase of 47.23% compared with the beginning of the year (RMB 123.831 billion).

— Net assets attributable to owners of the company were RMB 56.539 billion as of 31 December 2020, an increase of 10.46% compared with the beginning of the year (RMB 51.186 billion).

— The Board of Directors proposes a profit distribution for the period of a final cash dividend of RMB 1.2 per 10 shares (tax included). This proposed profit distribution is subject to approval at the shareholders’ general meeting.

Planned production volume & indicators of major mineral products:

                                      2020        2021        2022        2025
Mine-produced gold (tons)             40.5       53-56       67-72       80-90
Mine-produced copper (mil tons)      0.453     0.54-0.58   0.80-0.85   1.00-1.10
Mine-produced zinc (lead)(mil tons)  0.378     0.45-0.48   0.47-0.50       --
Iron ore (million tons)               3.87     3.50-3.80   2.90-3.30       --
Mine-produced silver (tons)            299      240-300     270-310        --

Note: For 2022-2025, except for mine-produced gold and mine-produced copper, the production volumes of other mineral products will basically remain unchanged.

The future operation and financial figures (if any) in this press release are stated as goals of the Company and shall not constitute a profit forecast of the Company. There is no guarantee that the Company will be able to achieve such goals or not. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as or constitute any representations or actual commitment by the Board or the Company to investors that the plans and objectives in the press release will be achieved, and investors should not place undue reliance on such statements. The Company undertakes no obligation to update publicly or revise any forward-looking statements or information in this press release, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Zijin Mining Group Co., Ltd.
http://www.zijinmining.com

Zijin Mining held the Sixth Science and Technology Symposium to Comprehensively Build Technology-led Global Competitiveness

On 9th September 2020, Zijin Mining convened the Sixth Science and Technology Symposium successfully. Mr. Chen Jinghe, the Chairman of Zijin Mining, put forward the science and technology manifesto of “promoting the Company’s global leaping development with scientific and technological innovation as the driving force”, indicating that Zijin Mining will fully establish technology-led global competitiveness.

The symposium was attended by distinguished guests, including Mr. Peng Qiming, President of China Mining Association; academicians of Mr. Zhang Wenhai, Mr. Sun Chuanyao, Mr. Qiu Guanzhou, Mr. Cai Meifeng, Mr. Mao Jingwen, Mr. Lin Jun, Mr. Chai Liyuan and Mr. Xu Zhenghe; Mr. Zhang Yongtao, Vice President of China Gold Association; Mr. Zhou Shiju, Deputy Director of the Science and Technology Department of Fujian Province; municipal and county-level officials of Mr. Zhang Guowang, Mr. Xie Haibo, Mr. Fu Cangrong and Mr. Wang Bo; as well as representatives from Guidance Center for Mineral Exploration Technology of the Ministry of Natural Resources, Department of Natural Resources of Fujian Province, Fujian Association for Science and Technology, Fuzhou University, Jimei University, Kunming University of Science and Technology, Jiangxi University of Science and Technology, research and design institutions at home and abroad as well as cooperative units. Mr. Zou Laichang, President of Zijin Mining, presided the opening ceremony of the symposium. Mr. Jiang Kaixi, chief engineer of Zijin Mining, reported on the scientific and technological work.

Technology creates and recreates Zijin Mining. For more than 20 years, Zijin Mining has sticked to scientific and technological innovation as its primary driving force, becoming one of the few multinational mining companies around the globe equipped with autonomous system technology and engineering management capabilities, with relatively well-established scientific research system and practice platform. Zijin Mining pioneered the mining project management model of “integrating five ore treatment processes into one” and realised coordinated research and full process control on five procedures of geological prospecting, mining, processing, refining and environmental protection, achieving the maximisation of economic and social benefits and promoting the continuous implementation of management and technological innovation concepts. From learning to leading, Zijin Mining has formed the core competitiveness and comparative advantages of the enterprise, which have strongly supported the rapid development of various businessess of the Company.

Mr. Chen Jinghe, the chairman, delivered a speech at the opening ceremony. He highlighted that “scientific and technological innovation creates Zijin” is a lively depiction of Zijin Mining’s development history in the past 20 years. Scientific and technological innovation has become a powerful driver for the Company’s high-speed development, and scientific and technological workers are the pillars forming the Company’s core competitiveness.

Looking ahead to the future, Mr. Chen Jinghe pointed out that uncertainty in the current global politics and economy increases. However, position of the mining industry, which is a fundamental industry, has not changed and still remains relatively stable. Furthermore, owing to substantial rise in investment costs and costs of obtaining mineral resources, the prices of mineral resources are likely to stand firm. Zijin Mining is determined to become a tier-one metal mining company with global competitiveness, which is the glorious mission and vision of the Company. The Company must speed up the conversion of advantage in resources into advantages in products and efficacy, which is the most crucial and core task at present.

Firstly, Zijin Mining will drive for scientific and technological innovation with a global vision and new mindset. The Company will pursue scientific and technological innovation from an even higher starting point, and strive for excellence above international standards. Its project management model of “five ore treatment processes into one”will be applied and promoted more extensively. Efforts will be made to further uncover super-large deposits of significant market value, and achieve technological breakthroughs in the use of deep shafts for efficient, cost-saving and safe mining. In addition, research and application of eco-friendly processing and refining technology will be focused on to realise the goal of green and eco-friendly development in both of the Company’s domestic and overseas projects.

Secondly, Zijin Mining will emphatically develop a highly fitting, globalised mechanism for operation and management which is supported by science and technology. Treating science and technology as its most important support and guidance in the pursuit for globalisation, the Company will push for deeper reforms in a steady manner. It will accelerate informatisation and intellectualisation of mines, and drive for reforms in quality and efficiency. It will also remain committed to a new path for innovation which is created by its own and bears unique Zijin characteristics, as well as attaining breakthroughs in core and critical technology in shorter timeframe. To live up to its determination of creating an open environment for scientific and technological innovation, the Company will promote exchanges and cooperation with external parties and join forces with various sectors to achieve powerful scientific and technological developments. Furthermore, in order to expeditiously build a new talent base with technical expertise, the Company will reach out globally to explore for acquisition of, or cooperation with high-tech companies that have a strong talent powerhouse.

Thirdly, Zijin Mining will formulate globalised, pragmatic talent development policies with Zijin characteristics. The Company will introduce advanced, veteran and outstanding talents in the science and technology field and young elites from around the world. Leveraging on its various projects across the world, the Company will encourage talented employees to work at the “frontline of the battlefields” to achieve mutual growth with Zijin Mining and realise their personal value. Taking value creation and market standards as the criteria for assessment, it will accelerate the formulation of a global, value-creation focused talent development strategy.

Fourthly, a global Zijin culture will be developed with full efforts. Having strong faith in its own culture, the Company will seek integration with the excellent culture of the localities where its projects operate, weave Zijin Mining’s excellent corporate culture and core values deeply into the fabrics of the enterprise, insist on the core value of mutual development, and, in the course of developing its business, allow its employees the opportunities to realise their personal strength as well as benefit the countries, communities and business partners that are relevant to the Company’s operations.

Mr. Zhang Guowang, Vice Secretary to the municipal Party Committee and acting mayor of Longyan City, and Mr. Zhou Shiju, Deputy Director of the Science and Technology Department of Fujian Province, delivered warm and robust speeches at the symposium. They congratulated the successful convention of the symposium, fully recognised Zijin Mining’s achievements in scientific and technological innovation, and provided invaluable advice and guidance on Zijin Mining’s future implementation of scientific and technological innovation strategies, as well as the importance of scientific and technological innovation in leading future development.

At the symposium, commendations were given to Zijin Mining’s outstanding leaders, team members, workers and collaborators who specialise in the field of science and technology, as well as the outstanding projects and their representatives. The symposium was broadcasted worldwide online.