JINCHUAN INTL (02362): Copper Output Reaches 44,024 Tons in First Three Quarters

Stock News
11/27

JINCHUAN INTL (02362) announced that its mining operations produced 44,024 tons of copper (in copper content of cathode copper and copper concentrate) in the first nine months ending September 30, 2025, representing a decrease of approximately 67% compared to 47,183 tons in the same period of 2024. The decline was attributed to unstable power supply from the Democratic Republic of Congo's national grid to the Ruashi mine, leading to a temporary suspension of the solvent extraction-electrowinning (SX-EW) system in January 2025. Consequently, cathode copper production dropped, though the group compensated by increasing copper concentrate output through its flotation plant to maintain overall production levels. To address the power supply issue, the company installed additional diesel generators and resumed SX-EW operations by mid-May 2025.

Due to the suspension of the SX-EW system, cobalt production fell to 71 tons (in cobalt content of cobalt hydroxide), down approximately 90.3% from 735 tons in the same period of 2024. During this period, the group sold 41,971 tons of copper (in copper content of direct shipping ore, cathode copper, and copper concentrate), a slight increase of 1.5% compared to 41,368 tons in the corresponding period of 2024. However, no cobalt was sold during this period due to low production and an export ban imposed since February 2025, whereas 1,318 tons of cobalt were sold in the same period of 2024.

The Musonoi project, recently launched, has become the group's third operating mine in the Democratic Republic of Congo. According to the 2023 annual report, as of December 31, 2023, the Musonoi project holds 606,000 tons of copper reserves and 174,000 tons of cobalt reserves, surpassing the combined reserves of the existing Ruashi and Kinsenda mines. Additionally, the company's shares remain suspended from trading.

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