SMM10 28: it is reported that Zijin Mining's Buritic á underground gold mine in Colombia has been put into production and is expected to produce nearly 3.5 million ounces of gold and 6.4 million ounces of silver in the life of the mine. Chen Jinghe said that the gold mine will reach an annual production capacity of 9 tons of gold next year.
Buritic á Gold was originally owned by Continental Gold Corporation of Canada. In December 2019, Zijin Mining announced that it would buy all shares of Continental Gold with a cash agreement of about 7 billion yuan, thus acquiring a 100% interest in Buritic á Gold of Colombia.
Zijin Mining has been very active in the international market in recent years, and has invested in mining projects in 12 overseas countries. with the proficiency of overseas operation experience and ability, the company's profit contribution rate of overseas assets has exceeded 40%. It has become one of the most successful Chinese enterprises operating mines overseas. Against the backdrop of the sudden global spread of the COVID-19 epidemic this year, the company achieved a cumulative net profit of 4.572 billion yuan belonging to the parent company in the first three quarters, a year-on-year increase of 52.12%, the highest level in the same period in the company's history.
"Zijin Mining's net profit of returning to its mother in a single quarter was 2.15 billion yuan. In the first three quarters, mineral copper increased by 30.69%.
