Zijin Mining (02899) announced the results for the first three quarters of 2026, with operating revenue of approximately RMB 283.453 billion, up 11.51% year-on-year; net profit attributable to shareholders of the listed company of approximately RMB 57.526 billion, up 51.93% year-on-year; and basic earnings per share of RMB 2.163.
The announcement stated that the substantial growth in performance was mainly due to: first, thoroughly implementing the general policy of "improving quality, increasing output, controlling costs, and enhancing efficiency," coordinating and strengthening production organization and operational management, and steadily releasing the output of key mineral varieties; second, effectively controlling the growth rate of cash costs per ton of ore; third, benefiting from a significant increase in the prices of main metals and by-products, the gross profit margin of mineral products improved significantly year-on-year, fully enjoying the benefits of price increases.
In the gold segment, the company achieved 70 tons of mineral gold, an increase of 8% year-on-year. The production capacity of incremental projects such as the Akyem gold mine and the Reguodo gold mine continued to be released. The acquisition of control over Chifeng Gold was successfully completed on October 22, 2026. Through obtaining control of Chifeng Gold, the company successfully acquired a batch of producing gold mines with good mineralization conditions and excellent resource endowments; this acquisition is a new layout in an important gold mineralization belt, which will effectively enhance the company's gold resource reserves, increase the scale of the company's gold output, and continuously consolidate the company's position and influence in the global gold industry.
In the copper segment, the company achieved 82 tons of mineral copper; excluding Kamoa, it achieved 73 tons of mineral copper, an increase of 6% compared with the same period last year on a comparable basis. The Juno copper mine added 2.75 million tons of copper metal resources in the reporting period, with cumulative identified copper metal resources of 5.69 million tons, equivalent to "creating another Juno copper mine." The project construction is currently proceeding in an orderly manner and is expected to be put into production by the end of 2026; the main projects of the Xiongcun copper mine have successively started construction and are expected to be put into production by the end of 2028. Against the backdrop of slowing global copper production growth, the company will continue to leverage its industry-leading geological exploration and full-process mining engineering management advantages to ensure the phased implementation of incremental projects in the copper segment and the continuous release of production capacity.
In the lithium segment, the company achieved equivalent lithium carbonate output of 79,000 tons (including 10,000 tons from Zangge Mining), a significant year-on-year increase. The production capacity of the 3Q salt lake lithium mine, the Laguocuo salt lake lithium mine, and the Xiangyuan hard rock lithium mine is steadily ramping up; the Manono lithium mine completed the commissioning of the flotation system in July 2026, and the Kigoma port has started upgrading and renovation, which is expected to be completed in the second half of 2027, and is expected to fully open up the transportation corridor in eastern Africa.
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