Zijin Mining Industry: mine output increases Q1 net profit in 2022 increases by 143.88% compared with the same period last year

Zijin Mining reported in the first quarter of 2022 that its operating income in the first quarter was 64.771 billion yuan, an increase of 36.35% over the same period last year, while the net profit belonging to shareholders of listed companies was 6.124 billion yuan, an increase of 143.88% over the same period last year. The comprehensive gross profit margin was 17.32%, up 2.36 percentage points from the same period last year.

The company said: with the smooth commissioning of key projects such as the Pegi Copper and Gold Mine in Serbia, the Kamoa-Kakoula Copper Mine and the Julong Copper Mine in Tibet, the company's mineral gold output increased by 17% in the first quarter of 2022 compared with the same period last year. Mineral copper output increased by 53% year-on-year, and mineral zinc output increased by 12%.

Progress of key projects:

1. Overseas key construction projects

(1) on March 20, the opening ceremony of the company's first lithium mining project, Argentina 3Q Salt Lake Lithium Construction Project, was held. The first phase of the project plans to produce 20,000 tons of battery-grade lithium carbonate per year, which is expected to be completed and put into production by the end of 2023. The company will continue to optimize the process design plan, and the lithium recovery rate and output are expected to be further increased; carry out the feasibility study of the second phase of the project at the same time to expand production as soon as possible.

(2) on March 21, the second phase of Kamoa-Kakoula Copper Mine started the commissioning of the ore concentrator with 3.8 million tons of ore per year, which was completed and put into production about 4 months ahead of schedule. After the second phase of the project was put into production, it is planned to pass a year of technical transformation. The original design mining scale will be increased to 9.2 million tons per year, with an annual copper output of more than 450000 tons, making it the fourth largest copper mine in the world. The design and preliminary work of the third phase of the expansion project are advancing rapidly, and it is planned to be put into production in the fourth quarter of 2024; the supporting 500000-ton copper smelting refinery is under way.

(3) the 40,000 tons / day technical transformation of Sai Zi Copper VK Mine strives to put into production in the second quarter of 2022, with an increase of about 35000 tons of mineral copper after reaching production; the Norton Jintian Binduli North year low-grade ore treatment project is expected to be completed and put into production in the third quarter of 2022, with an increase of 2.5 tons of mineral gold after reaching production; Norton Jintian Refractory Gold Project has started construction and is expected to be completed and put into production by the end of 2022.

(4) A large number of major projects, such as the core project of caving mining in the lower ore belt of Saizjin Peggy Copper Gold Mine, the caving mining project of Saizi Copper JM Mine and the first phase of Aurora mining, are progressing smoothly.

2. Key domestic construction projects

(1) the first phase of Julong Copper Mine was completed and put into production in December 2021, and the preliminary work of the second phase of the project is being planned.

(2) the main project of intelligent mining, selection, reconstruction and expansion of the newly built 6000 / day mine in Zijin, Shanxi Province is expected to be completed in the second quarter of 2022, with an increase of 3-4 tons of mineral gold after reaching production.