Skip to Content
Global News Select

Zijin Mining's 2021 Profit More Than Doubled Amid Rising Metal Demand

   By Yongchang Chin 

Zijin Mining Group Co. Ltd.'s profit more than doubled in 2021 thanks to rising demand for major industrial and precious metals, the company said Sunday.

There was a "mismatch of supply and demand" for metals last year amid a global energy shortage, growing renewable-energy demand and the rise of "resource nationalism," Zijin said. These factors pushed prices of metals higher, it added.

The Chinese mining company's 2021 net profit was 15.67 billion yuan ($2.46 billion) compared with the year-ago figure of CNY6.51 billion. Operating income rose to CNY225.10 billion from CNY171.50 billion.

While the company's copper- and gold-mining businesses had grown, it said it has been focusing on developing new-energy minerals such as lithium, cobalt and nickel.

Zijin Mining also said it will continue to "seek opportunities to acquire high-quality medium and large mining assets which have great strategic significance," and increase investment in renewable-energy sources like solar, wind and hydro power to increase its clean-energy usage.


Write to Yongchang Chin at


(END) Dow Jones Newswires

March 20, 2022 21:15 ET (01:15 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.

Market Updates

Our Picks