Jiangxi Copper's semi-annual report shows that in the first half of the year, the company achieved operating income of 226.794 billion yuan, an increase of 54.30% over the same period last year, and the net profit of shareholders belonging to listed companies was 3.043 billion yuan, an increase of 308.30% over the same period last In the first half of the year, the company's cathode copper output was 901300 tons, up 12.58 percent over the same period last year; gold output was 38.87 tons, up 0.96 percent over the same period last year; silver production was 6.1437 million tons, up 12.76 percent over the same period last year; output of copper processed products was 750100 tons, up 10.95 percent over the same period last year; copper production of self-produced copper concentrate was 103000 tons, down 1.53 percent from the same period last year; The output of copper rod was 674200 tons, an increase of 10.4% over the same period last year. Jiangxi Copper's semi-annual report shows that the company's annual copper concentrate contains more than 200000 tons of copper. Hengbang, a subsidiary of the company, has an annual production capacity of 50 tons of gold and 1000 tons of silver, as well as 250000 tons of electrolytic copper and 1.3 million tons of sulfuric acid. The Group is now the largest copper processing manufacturer in China, with an annual processing of more than 1.4 million tons of copper products. The Group has an output of more than 1.6 million tons of cathode copper per year, and its Guixi smelter is the largest copper smelter in the world.
During the reporting period, projects such as Tianjin large Seamless Copper Company and 8000 tons / year special enamelled wire expansion projects acquired by the company have been put into production one after another, and the trial production of the third phase of 15,000 tons / year lithium copper foil has been carried out. The market share of high-end copper processing products has increased steadily; Jiangxi Electric Power The cable company has successfully produced 64/110KV 1x630HV cables, becoming the only enterprise in Jiangxi Province that can produce such UHV cables; the Bakuta tungsten mine project in Kazakhstan has successfully introduced strategic investors, and the project construction has been carried out in an orderly manner; the third phase expansion project of Wushan Copper Mine has been formally examined and approved by the State Mine Safety Supervision Bureau, and has now started in an all-round way; Qingyuan smelting reconstruction and expansion project has completed all the preparatory work before bidding. The construction of Jiangtong Yantai Guoxing 180,000 t / a copper smelting project is progressing smoothly.
Jiangxi Copper's refined cathode copper production rose 12.6 per cent year-on-year to 901300 tons in the past six months and is expected to meet its annual target of 1.73 million tons. Copper prices have continued to rise to record highs as demand recovers and financial stimulus measures take place. In addition, the average price of sulfuric acid, a by-product of copper smelting from January to June, was four times higher than that of the same period last year, further expanding earnings. Jiangxi Copper said low copper inventories in the second half of the year and bright consumption prospects for solar and new energy industries would keep the copper market in a tight balance.
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