On April 7, China nonferrous metals mining held an online 2021 annual performance presentation. Zhang Jinjun, chairman of the board of directors of the company, said that the main financial indicators of the company reached a record high in 2021, and the operating performance was exciting. As the core copper and cobalt resource development platform of China Nonferrous Metals Group, the company has always been strongly supported by the controlling shareholders. Looking ahead to 2022, the global economy will recover slowly, bringing more stable support to long-term copper demand; The rapid development of “green” industry has brought more application scenarios and marginal increment to copper cobalt metal; Although some mines under construction have been put into operation and the output on the supply side has increased, from a global perspective, the supply and demand of copper will continue to be in a “tight balance”, which will stabilize the current international copper price. China’s nonferrous mining industry will further expand the reserve of copper and cobalt resources by strengthening geological exploration, foreign mergers and acquisitions and other means; Accelerate the pace of tackling key scientific and technological problems and tap benefits from technological innovation.
According to the financial data previously announced by the company, in 2021, China’s nonferrous mining industry achieved a consolidated main business income of US $4.051 billion, a year-on-year increase of 56%, exceeding the US $4 billion mark for the first time. If measured by the amount of changes in revenue scale, the company has set a new record since its listing; The net profit attributable to the parent company was US $357 million, a year-on-year increase of 185.7%.
China nonferrous metals mining is an overseas platform for the development of copper and cobalt resources of China Nonferrous Metals Group. It is a leading copper producer in the world. It focuses on the vertical integrated business of copper and cobalt exploration, mining, beneficiation, hydrometallurgy, pyrometallurgy and sales in Zambia and the Democratic Republic of the Congo. The company was established in July 2011 and successfully listed on the main board of the stock exchange of Hong Kong in June 2012, becoming the first African concept stock listed in Hong Kong.
In 2021, the company will hand over a report card of high growth and high quality, which is not only due to the substantial increase in the output of the company’s main products, but also due to the smooth operation of new projects and reaching the production standard.
According to reports, in 2021, the company’s non funded enterprises seized the favorable opportunity of rising copper and cobalt prices and resolutely implemented the production and operation plan. The company’s eight subordinate production enterprises produced about 507000 tons of comprehensive copper in 2021, with a year-on-year increase of about 26.6%; Its own mines produced about 131000 tons of copper, a year-on-year increase of about 32.0%. In addition, key projects such as the southeast ore body of China nonferrous metals mine, luaraba copper smelting and the main ore body of gonpov have been put into operation to release production capacity, and the production and sales of the company’s main products have increased significantly.
At the same time, the Congo (DRC) gonpov main ore body project took only more than one year, which is convenient for the smooth production in September 2021. Now it has fully reached the production standard. According to Zhang Jinjun, the project is designed to produce 28000 tons of cathode copper and 978 tons of cobalt hydroxide per year. It is expected to bring greater contributions to the company this year.
The formation of brilliant achievements is inseparable from the continuous development and potential tapping of resources by China Nonferrous Mining Industry and the implementation of the group company’s strategy of “improving resources with science and technology”. Zhang Jinjun said that as a mining company, the acquisition of copper and cobalt resources has always been the business core of the company. In 2021, the company continued to promote the reserve and research of resource projects. At the same time, it actively demonstrated the increase of reserves of existing projects and increased the potential of resource exploration. In the whole year, the company invested more than US $5 million in exploration funds and increased copper resources by more than 400000 tons through side prospecting.
In the field of R & D and innovation, the cobalt recovery project of the southeast ore body of China nonferrous metals mine has greatly improved the recovery rate of cobalt resources on the premise of ensuring the recovery rate of copper metals by optimizing the flotation process and separating copper and cobalt metals. At present, the experimental verification has been completed and the feasibility study is under way. The CCS technical transformation project has been started, with a total investment of more than 18 million US dollars. The construction period is expected to be about 18 months. It will focus on breaking through the production bottleneck and greatly increase the output.
It is worth mentioning that thanks to the company’s good share price and transaction performance in 2021, as well as the accelerated consolidation of its business and performance, and the victory of reversal in 2020, China nonferrous mining was successfully included in the Hang Seng Composite Index, which marks the further enhancement of the enterprise’s reputation and influence in the Hong Kong capital market and has been highly concerned and generally recognized by the market and investors.
In May 2021, the company made a lightning placement in the Hong Kong market and raised HK $985 million, which improved the company’s capital structure and shareholder structure, increased the shareholders’ equity of the group company and activated the stock liquidity. This also helped the company successfully enter the scope of Hong Kong stock connect in March this year.
Zhang Jinjun said that this capital operation broke the company’s long-standing dilemma of decoupling asset value from stock price, made the company recognized by the majority of investors and laid a solid foundation for the company’s high-quality development. In the future, the company will strengthen capital operation and investor relations maintenance, help fully reflect the value of high-quality assets and give back to the majority of investors.
