【2899 Results】ZiJin Mining Earned 62% More Last Year, Hitting New High; Final Dividend Per Share 0.38 RMB

Zijin Mining (02899) (Shanghai: 601899)Shanghai Stock ExchangeAnnounced 2025 results. According to Chinese accounting standards, Zijin Mining’s operating income last year was 3490.79 billion yuan (RMB, the same below), an increase of 15.0% year-on-year; net profit was 517.77 billion yuan, an increase of 61.6% year-on-year; earnings per share were 1.95 yuan, and a cash dividend of 3.8 yuan per 10 shares was distributed, an increase of 35.7% year-on-year; 57.9% more for the whole year

During the period, the company’s mine produced about 89.58 tons (about 288 million ounces), up 22.8% year-on-year, and it is expected to produce 105 tons of mineral gold in 2026 and 130 to 140 tons in 2028. The 2026 mineral copper target is 120 tons, mineral silver 520 tons, lithium carbonate equivalent 12 tons, mineral zinc (lead) 40 tons, and mineral molybdenum 1.5 tons.

Zijin Mining said that Zijin Gold International has become the main force in promoting the accelerated growth of the company’s gold business, and its newly purchased Akeem Gold Mine and Ruiguoduo Gold Mine are conducting demonstration and research on technical transformation and expansion, and the annual gold output is expected to increase to 15 tons and 10 tons respectively after reaching production; The Rosbell Gold Mine has added 500 tons/year processing capacity for technical transformation and expansion, and the annual gold production is expected to increase to 12 tons after reaching production; The mining and processing indicators of the Norton Gold Field continue to be optimized, the first phase of the Aurora Gold Mine mining project is progressing in an orderly manner, and the production capacity of the Bogra Gold Mine continues to stabilize; A number of projects in production, such as Jilao, Tarot Gold Mine, and Left Bank Gold Mine, have stable and high yields.

the Chukalu-Peggy copper-gold mine and the Bol copper mine continue to contribute steadily to gold production; the service life of the upper gold mine of the Arena copper-gold mine is expected to be extended; After construction and technical transformation projects such as Longnan Zijin, Shanxi Zijin, and Sawayton Gold Mine were put into operation, production capacity continued to rise; After the completion of the 12,000 tons/day mining and processing project of the marine gold mine, the annual gold output will be about 15-20 tons.

In addition, Zijin Mining plans to form a production capacity of 27 to 32 tons of equivalent lithium carbonate by 2028, becoming one of the world’s most important lithium producers. In the third quarter of last year, the first phase of the salt lake lithium mine project was put into operation, and the output increased to 3 tons/year after the technical transformation was approved; The construction of the second phase of the 4 tons/year lithium carbonate project is progressing in an orderly manner.

Zijin Mining said that the northeast project of the Manono lithium mine is scheduled to be put into operation by the end of June 2026, and the first phase of the repair project of the Mpiana-Mwanga hydropower station adjacent to the project has been completed, achieving an installed capacity of about 37.5MW. The first phase of the Lagocuo Salt Lake lithium mine has a 2 tons/year equivalent lithium carbonate project put into operation, and the second phase of the 4 tons/year equivalent lithium carbonate project is stepping up planning; The 500 tons/year mining and processing project of Xiangyuan hard rock lithium mine and the supporting battery-grade lithium carbonate smelter were put into operation, with an annual output of 3 tons of battery-grade lithium carbonate after reaching production.

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