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[SMM News] Precious metal plate bomb Zijin Mining shares hit a 10-year high
Sep 7,2020 10:51CST
Zijin Mining rose more than 4 per cent in morning trading, up nearly Rmb7.50, while Hong Kong shares (2899.HK) reached a peak of nearly HK $6, a new high in more than a decade.
The content below was translated by Tencent automatically for reference.

SMM9 March 7: Zijin Mining rose more than 4% in morning trading, up nearly 7.50 yuan, Hong Kong stock (2899.HK) as high as nearly HK $6, the share price refreshed more than a decade high. Industry agencies reported that Zijin Mining's medium-term results were better than expected and were considered to be the first choice among gold mining stocks, rated as "overweight". It is reported that 14 shares have been increased by senior executives, and Zijin Mining has received the largest increase. Statistics show that a total of 14 listed companies' shares were increased by senior executives from August 19 to September 1. From the perspective of the amount of increase, the largest increase in the past 10 days is Zijin Mining, with a cumulative increase of 5 million shares, totaling 27.43 million yuan.

According to the semi-annual report of Zijin Mining, its sales revenue in the first half of the year was 83.142 billion yuan, an increase of 23.73% over the same period last year (same period last year: 67.198 billion yuan), and the net profit attributable to shareholders of the parent company was 2.421 billion yuan, an increase of 30.64% (year-on-year period: 1.853 billion yuan). As at the end of June 2020, the total assets of the Group were 149.805 billion yuan, an increase of 20.98% over the beginning of the year (beginning of the year: 123.831 billion yuan).

Zijin Mining continued to make efforts in the gold plate in the first half of the year. Under the circumstances that the mining rights of the Bogera gold mine continued to be blocked and stopped production, it realized 20.24 tons of mineral gold, an increase of 5.93% over the same period last year, and the gross profit of the gold plate accounted for 38.60% of the group's gross profit. Among them, Colombia's Wulitika Gold Mine successfully completed the takeover and put into production, and the contributions of Norton Jintian, Hunchun Zijin and Guizhou Zijin increased. The copper plate maintained a high growth trend, achieving 230700 tons of mineral copper, an increase of 34.85% over the same period last year. Gross profit accounted for 37.35% of the group's gross profit, among which Musonoi, Serbian Zijin Copper and Duobaoshan Copper achieved substantial "double super" output profits.

Data show that Zijin Mining, as a large multinational mining group, is mainly engaged in the exploration and development of gold, copper, zinc and other mineral resources and technological research around the world, and appropriately extends the business of smelting, processing and trade, and has a relatively complete industrial chain. The company has important mining investment projects in 14 provinces (autonomous regions) and 12 overseas countries, and most of the overseas projects are located in the countries along the "Belt and Road Initiative" route.

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