China’s Zijin Mining plans gold output push after record profit

ZIJIN Mining Group is planning double-digit growth for its gold and copper production in 2026, after surging prices and expanding operations propelled annual profit to another record.

China’s largest mining company, surpassed only by Rio Tinto Group and BHP Group in market value, said estimated net income jumped as much as 62 per cent to 52 billion yuan (US$7.4 billion) this year as copper, gold, and silver prices notched a series of all-time highs. The firm released preliminary earnings late on Tuesday (Dec 30).

In 2026, Zijin Mining will target mined gold and copper output at 105 tonnes and 1.2 million tonnes respectively, it said in a statement. That would represent a year-on-year boost of 17 per cent for gold and 10 per cent for copper production.

The company aims to achieve a yearly 100-tonne gold output target two years ahead of schedule, it said in a separate statement on Wechat. Acquisitions of gold mines in Ghana, Kazakhstan and expansion at its Julong copper mine in China’s Tibet region have driven production growth, it added. 

Its recently spun off gold unit, Zijin Gold International, said in separate statement that estimated net income surged as much as 233 per cent to US$1.6 billion in 2025.

Zijin shares more than doubled to a record high this year and were up 3.2 per cent at HK$36.50 at 9:48 a.m. Hong Kong time on Wednesday. BLOOMBERG