Recently, Zhongjin Gold Corp.,Ltd. announced that China Gold Group Inner Mongolia Mining Co., Ltd. has resumed production, stating that the temporary shutdown did not have a significant impact on the company's overall production operations and financial performance.
Looking back to July 23, six students from Northeastern University tragically fell into flotation tanks when a grating board collapsed during their educational visit to the company's Wunugetushan copper-molybdenum mine processing plant. The accident resulted in six student fatalities and one teacher injury. Following the incident, the company immediately activated its emergency response plan, rushed to the scene to organize rescue efforts, and promptly reported to relevant local government departments. On the evening of July 24, Zhongjin Gold Corp.,Ltd. issued an announcement that Inner Mongolia Mining Co., Ltd. had suspended operations and would actively promote follow-up work based on on-site handling conditions.
During the shutdown period, the company conducted comprehensive safety hazard investigations and performed thorough maintenance and repairs on production facilities and equipment. Particularly for the processing plant's safety protection facilities, the company invested 390,000 yuan to purchase 2,600 square meters of anti-fall netting from a Baotou-based company. The safety net is made entirely of 304 stainless steel with 5mm wire diameter and 10cm mesh openings, featuring corrosion resistance, high temperature tolerance, and certain tensile properties. Installation was scheduled for completion by September 6 to effectively prevent similar accidents from recurring.
Regarding financial performance, Zhongjin Gold Corp.,Ltd. achieved revenue of 35.067 billion yuan in the first half of this year, representing a 22.90% year-over-year increase, with net profit attributable to shareholders reaching 2.695 billion yuan, up 54.64% year-over-year. Inner Mongolia Mining contributed revenue of 3.092 billion yuan, up 2.55% year-over-year, and net profit of 1.299 billion yuan, up 5.35% year-over-year, serving as an important profit growth driver for Zhongjin Gold Corp.,Ltd. Although the temporary shutdown created some short-term impact on company performance, the relatively brief suspension period and the company's implementation of various mitigating measures resulted in minimal overall performance impact.
As a major gold enterprise, Zhongjin Gold Corp.,Ltd.'s business encompasses gold mining, processing, smelting, and manufacturing operations. The resumption of Inner Mongolia Mining's production is not only significant for the company's own development but will also have some impact on market supply within the gold industry.
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