Zijin Mining Group Co., Ltd. released its unaudited 2026 third-quarter report showing a strong earnings acceleration driven by firm metal prices, higher production and strict cost management.
Financial Performance • July–September 2026: Operating income rose 3.22% year on year to 89.27 billion RMB. Profit before tax jumped 42.41% to 30.12 billion RMB, while net profit advanced 38.94% to 23.70 billion RMB. Net profit attributable to shareholders reached 18.36 billion RMB, up 25.97%. • January–September 2026: Revenue expanded 11.51% to 283.45 billion RMB. Net profit surged 60.85% to 73.51 billion RMB, with attributable net profit up 51.93% to 57.53 billion RMB. Operating cash flow increased 61.74% to 84.28 billion RMB. Basic EPS stood at 2.16 RMB, a 51.79% rise. • Balance-sheet strength: Total assets grew 9.24% from end-2025 to 559.34 billion RMB; equity attributable to shareholders climbed 14.52% to 212.47 billion RMB.
Margin Expansion Group gross margin improved to 38.44% for the nine-month period (24.93% a year earlier). Mining operations posted a 68.38% gross margin versus 60.62% in 2025, reflecting tighter cost control and stronger prices for gold, copper and lithium.
Segment Highlights Gold: Mined output reached 70.13 tonnes (+8% YoY), supported by capacity ramp-ups at Akyem and Raygorodok. Zijin secured control of Chifeng Gold on 22 October 2026, adding producing assets in key metallogenic belts.
Copper: Mined copper totalled 815,721 t; excluding the Kamoa joint venture, output was 730,000 t, up 6% YoY. The Zhunuo Copper Mine reported an additional 2.75 million t of filed copper resources, taking identified resources there to 5.69 million t. Zhunuo is targeted to start production by end-2026, while Xiongcun Copper Mine construction is under way with first output expected by end-2028.
Lithium: Lithium carbonate equivalent (LCE) production surged to 79,145 t (12,205 t a year earlier). Tres Quebradas, Lakkor Tso and Xiangyuan projects are scaling up, and the Manono project began feed commissioning in July. Port upgrades at Kigoma are set for completion in H2 2027 to facilitate exports.
Operational Efficiency • Company-wide initiatives in electrification and intelligent mining lifted productivity and curbed costs; 1,468 electric mining trucks are now in operation, achieving 55% coverage at domestic open-pit sites. • Enhanced mineral-processing and smelting technologies boosted recovery of associated metals and by-products such as molybdenum, tungsten, tin and sulphuric acid, sharply lifting segment profitability.
Capital and Cash Position Cash and cash equivalents stood at 90.39 billion RMB at 30 September, up from 65.58 billion RMB at year-end 2025. Net operating cash inflow of 84.28 billion RMB comfortably covered capital expenditure, enabling continued investment in growth projects and mine automation.
Shareholder Structure Zijin reported 1,089,966 ordinary shareholders at quarter-end. The largest holder, Minxi Xinghang State-owned Assets Investment, owns 22.88% of shares, while HKSCC Nominees holds 22.48%.
Outlook Management reiterated commitment to “improving quality, increasing production, controlling costs and boosting profitability,” signalling ongoing production expansion in copper, gold and lithium, alongside continued investment in smart-mine and low-carbon initiatives.
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