China Zijin Mining Reports Lower Profit in 2015, with Copper Output up

SHANGHAI, Mar. 29 (SMM) - Zijin Mining Group’s profit of listed shareholders fell 29.4% to 1.66 billion yuan in 2015, and business revenue increased 26.45% YoY to 74.3 billion yuan, it says in its annual report.

Sales of smelting products grew 68% YoY in 2015, but falling metal prices bit into its profit.

The company’s copper output was 414,393 tonnes, up 10.92% YoY. Primary copper output was 150,307 tonnes, with 23,294 tonnes of cathode copper, up 8.55% YoY.

Sales revenue from copper ore represents 15.57% of total business revenue during the report period, and gross margin from copper ore accounts for 29.09% of the company’s total. Its major income is from gold, copper and zinc. 

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