BEIJING – China’s leading gold and copper producer, Zijin Mining, anticipates its first-half net profit to surge by as much as 50%, according to a trading statement released on Monday.
The company projects that first-half net profit could climb to 15.5 billion yuan ($2.13 billion), marking a 50% increase compared to the same period last year, driven by higher production levels.
Gold production is forecasted to rise by 9.6% to 35.4 metric tons, copper is expected to increase by 5.3% to 518,000 tons, and silver is projected to grow by 1.3% to 210.3 tons.
Global prices for gold and silver experienced significant rallies in the first half of this year as investors sought safe-haven assets amid geopolitical tensions. Copper prices also reached record highs in May due to speculative buying.