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Copper industry news roundup
Jul 7,2021 16:30CST
Source:SMM
Zijin Mining expects that the net profit attributable to shareholders of listed companies will stand at 6.2-6.6 billion yuan from January to June 2021, a year-on-year increase of 156.09-172.61%.

SHANGHAI, Jul 7 (SMM) — Zijin Mining expects that the net profit attributable to shareholders of listed companies will stand at 6.2-6.6 billion yuan from January to June 2021, a year-on-year increase of 156.09-172.61%.

Zijin has actively organised production, as output of the main mineral products including gold, copper and zinc increased year-on-year. Zijin's two major mines were put into operation in the first half of the year. On May 26, it announced that the world-class copper mine Kamoa-Kakura copper mine was completed and put into operation.

Chen Jinghe, chairman of Zijin Mining, said that the commissioning of the Kamoa-Kakura copper mine will have an important impact on the increase in copper production, and will have a positive significance for the realisation of the strategic goals over the next five years. Another two world-class copper mines (the Peggy Copper-Gold Mine in Serbia and the Julong Copper Mine in Tibet) under Zijin are also accelerating construction. Peggy copper-gold mine entered trial production on June 16 and is expected to produce 91,000 mt of copper after commissioning.

The ore resources of the Hautalampi cobalt-nickel-copper project in Finland have increased by 100%, and the amount of metal in the mining license area has increased by 50%.

Hautalampi is located near the town of Outokumpu in eastern Finland and is owned by FinnCobalt, a private Finnish company. FinnCobalt has signed an investment agreement with Eurobattery Minerals AB in Sweden. As part of the agreement, the latter has agreed to fund the development of the project and will subsequently be entitled to purchase all the shares of FinnCobalt.

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