Zijin Mining surpasses RMB 1 trillion in market capitalization in Q1 on rapid profit growth

Zijin Mining, one of China’s largest mining giants, nearly doubled its net profit in the first quarter of 2026 to RMB 20.1 billion ($2.96 billion). Its market capitalization surpassed RMB 1 trillion ($147 billion).

At the end of April, Zijin, a leading global metals mining company, released its first quarterly results since the formation of a new management team. The company’s profit exceeded RMB 20 billion ($2.93 billion) for the first time; revenue reached RMB 98.5 billion ($14.5 billion), an increase of 25% year-on-year; net profit attributable to shareholders increased by 98% to RMB 20.1 billion; Net operating cash flow jumped 122% to RMB 27.8 billion ($4.08 billion).

With a market capitalization of RMB 1 trillion, Zijin ranks alongside BHP and Rio Tinto as one of the world’s top three mining companies.

The new management team has developed an ambitious three-year plan and a ten-year development strategy, aiming to become one of the world’s top three copper and gold producers by 2028, and to become the world’s number one producer by some metrics by 2035.

From day one, management has made increasing production a top priority. Gold remains a key driver of profit growth. The Akyem gold mines in Ghana and Raigorodok in Kazakhstan, acquired last year, are gradually ramping up production, supporting Zijin’s momentum with a 23% year-on-year increase in first-quarter gold production to 23.5 tonnes. The company plans to produce 105 tonnes of gold for the full year 2026.

Copper and lithium are two other pillars of the company’s growth.

Since 2021, Zijin has been capitalizing on the tectonic shifts in metal demand driven by the global energy transition. Through a series of acquisitions, the company has built a lithium portfolio comprising two salt mines and two hard rock mines with reserves exceeding 18 million tonnes of lithium carbonate (LCE), firmly positioning the company in the leading global segment.