Zijin Mining Group has released a preliminary earnings forecast for the first half of 2026, projecting a significant increase in profitability.

The company estimates its net profit attributable to shareholders for H1 2026 will be approximately 39.1 billion yuan, a rise of 15.8 billion yuan from the 23.3 billion yuan reported in the same period last year, representing a 68% year-on-year increase.

Adjusted net profit, which excludes non-recurring items, is expected to be around 37.9 billion yuan, marking a 75% growth compared to the prior year.

The company's profitability has demonstrated a steady upward trend on a quarterly basis.

Adjusted net profit for the second quarter of 2026 reached 19.4 billion yuan, showing a 5% sequential increase from the 18.5 billion yuan reported in the first quarter.

Key Drivers of Performance Growth

The substantial projected earnings growth is attributed to a dual benefit of increased production capacity and rising commodity prices.

The announcement disclosed that the output of Zijin Mining's core mineral products experienced structural growth in the first half of the year.

Mined gold production reached 47 tonnes, a 15% year-on-year increase.

Mined copper production, excluding the company's share from the Kamoa-Kakula project, reached 480,000 tonnes, up 5% from a year earlier.

Mined silver output was 229 tonnes, showing a modest 2% rise.

Lithium carbonate equivalent production surged to 43,000 tonnes, a massive 514% increase from the 7,000 tonnes produced in H1 2025, officially establishing the lithium business as a major new growth driver.

Due to production adjustments at international copper projects, consolidated mined copper output was 534,000 tonnes, a slight 6% decrease year-on-year, while mined zinc (and lead) production remained stable at 200,000 tonnes.

In addition to steady production increases, sales prices for various metals during the period were significantly higher compared to the previous year.

Profitability for rare metals such as molybdenum, tungsten, and tin, as well as by-products like sulfur concentrate and sulfuric acid, saw substantial improvement.

Company Background and Operations

Zijin Mining Group Company Limited is a leading multinational mining group headquartered in Shanghang County, Fujian Province, founded in September 2000.

Its core operations encompass the exploration, mining, and smelting of mineral resources, with a portfolio spanning gold, copper, lithium, zinc, silver, molybdenum, and other metals.

The company has established over 30 significant mining bases across 17 Chinese provinces and 17 countries overseas.

In recent years, Zijin Mining has aggressively expanded into lithium resources to capitalize on the energy transition, achieving industry-leading growth rates in lithium capacity.

According to its official website, the company's resource reserves include approximately 1.1 billion tonnes of copper, 4,610 tonnes of gold, and 18.83 million tonnes of lithium carbonate equivalent, making it the Chinese enterprise with control over the largest volume of metal mineral resources.

In 2025, the company reported revenue of 349.1 billion yuan, a 15% year-on-year increase, and a net profit attributable to shareholders of 51.8 billion yuan, up 62%.

In the Forbes Global 2000 list for 2026, Zijin Mining ranked 181st overall, placing first among listed global gold companies and third among global metal mining enterprises.

Market Performance

Regarding its performance in the capital markets, Zijin Mining's market capitalization surpassed the 1 trillion yuan mark for the first time on January 6.

However, its share price has experienced significant volatility this year, with its A-share price declining cumulatively by approximately 19.74%.

As of the market close on July 13, shares of Zijin Mining Group Company Limited were trading at 27.36 yuan per share, with a total market capitalization of 728 billion yuan.