Zijin Mining International reports 179% surge in interim net profit

Zijin Mining International reported an interim net profit of $1.451 billion, representing a 179% increase year-on-year. Earnings per share rose 135% to $0.54, and the company declared its first interim dividend of HK$1.5.

Gold production increased by 44% year-on-year to approximately 27.3 tonnes, while revenue doubled to $3.987 billion. The company noted that despite challenges such as fluctuating ore grades, abnormal rainfall, and cost inflation, technical improvements and global supply chain coordination helped mitigate these impacts.

The group attributed the rise in gold prices to central bank purchases, long-term capital allocation, and safe-haven demand amid global geopolitical adjustments. It noted that central banks net purchased 345 tonnes of gold in the first half of the year.