BEIJING – China’s biggest gold and copper producer Zijin Mining expects first-half net profit to have jumped by as much as 50%, the company said in a trading statement on Monday.
First-half net profit could reach up to 15.5-billion yuan ($2.13-billion), up 50% year on year, Zijin’s statement said, citing higher output.
Gold output was expected to increase by 9.6% to 35.4 metric tons, with copper up 5.3% at 518 000 t and silver up 1.3% at 210.3 t.
Global prices of gold and silver rallied sharply in the first half of this year as investors rushed to buy safe-heaven assets amid geopolitical tensions. Copper also hit record highs in May on speculative buying.
