CHINFMINING announced its mid-term results for 2025: strong profitability momentum and optimized business structure drive high-quality growth

According to Zhitong Finance APP, on August 28, 2025, China Nonferrous Mining Co., Ltd. (01258) announced its interim results for 2025. During the period, the company achieved revenue of USD 1.752 billion; net profit of USD 371 million, an increase of 22.5% compared to the same period in 2024; profit attributable to shareholders of the company was USD 263 million, an increase of 20.2% compared to the same period in 2024. The basic earnings per share attributable to shareholders of the group was approximately 6.75 cents (approximately HKD 0.53), an increase of about 17.4% compared to 5.75 cents (approximately HKD 0.45) in the same period of 2024.

From January to June 2025, the company produced a total of 111,283 tons of crude copper and anode copper, a year-on-year decrease of 30.4%; produced 72,192 tons of cathode copper, a year-on-year increase of 15.6%; produced 481 tons of cobalt-containing hydroxide, a year-on-year increase of 1.7%; produced 538,433 tons of sulfuric acid, a year-on-year decrease of 1.9%; produced 1,466 tons of liquid sulfur dioxide, a year-on-year decrease of 85.5%; and processed copper products for external enterprises totaling 102,708 tons, a year-on-year increase of 152.9%.

Construction projects are progressing steadily, and development work continues to deepen

In the first half of 2025, the company's major construction projects progressed smoothly. China Nonferrous Africa Mining completed the hydrogeological and engineering geological survey work along the slope road from the surface to the 680mL mid-section, successfully identifying a section of about 250 meters of unfavorable geological body along the slope road. The permeability test of the unfavorable geological body and the construction of inspection boreholes have also been completed, and it is expected that the verification of the unfavorable geological body's passability along the established route will be completed by the end of July this year. If the established route is maintained, construction conditions will be ready by the end of February 2027, with construction lasting about 17 months, and completion expected in the third quarter of 2028. If the route is adjusted, supplementary surveys will take about 8 months, with construction starting at the end of October 2027 and completion expected in the second quarter of 2029.

In the curtain grouting water treatment project of the southeast ore body, the curtain wall from the surface to the 450-meter level of the auxiliary shaft has basically formed, and the treatment work has progressed to the deep part of the third aquifer at the 450-meter to 505-meter level. The water inflow in the auxiliary shaft has been reduced to about 29 cubic meters per hour, and the curtain wall from the surface to the 50-meter level of the main shaft has also basically formed, entering the drilling and grouting task of the second aquifer at the 130-meter to 170-meter level, with the current water inflow at 42.56 cubic meters per hour. The special geological survey construction of the main west selection plant renovation project has been completed, and the survey report is planned to be submitted in early July. The special feasibility study review and the company's investment decision-making related processes have been completed, with plans to start project bidding in early August, complete contract negotiations and signings, preliminary design reviews, and environmental assessment report reviews by mid-September, striving to start civil construction by the end of September.

The slag selection capacity expansion and renovation project of Qianbixi Copper Smelting completed the procurement of semi-autogenous grinding equipment and construction engineering during the period, with a cumulative payment of USD 3.2 million; the new 10,000 standard cubic meters per hour (purity 90%) VPSA oxygen production system project has completed environmental assessment and design review after group approval, with equipment procurement investment of USD 4.5 million; the environmental protection treatment project for smelting flue gas is also progressing simultaneously, with high-pressure fan and dust collector procurement of USD 1.5 million; the expansion project of the smelting concentrate warehouse C area has also completed site demolition and procurement of a washing machine for USD 0.2 million, and the photovoltaic energy storage power station in the living area has entered the supplier inquiry comparison stage The China Nonferrous Luansha New Mine Project is a key project for achieving sustainable and high-quality development in the future. The total investment in the project is approximately $513.0 million. Currently, the dewatering work is progressing smoothly, and comprehensive dewatering work has been initiated. By the end of June, the cumulative dewatering volume reached 68.09 million cubic meters, accounting for 74% of the total water volume, with a cumulative water level drop of 594 meters. The feasibility study for the shallow project has been completed, and restoration and infrastructure work is steadily advancing.

The slag flotation project at Luabalaba Copper Smelting was completed and put into production on January 20 this year. The project settlement has not yet been completed, and the entire system is in normal production operation. In the slag slow cooling field expansion and supporting plant project, two high-speed diesel generator sets have been completed and put into production in the supporting plant project, which are now in production use; the independent foundations for the six medium-speed diesel generator sets and the ground beams for the power distribution room, as well as the foundations for the eight diesel generator sets, have all been completed. This project is scheduled to be delivered for production use by November 30, 2025. The geological exploration work for the slag flotation tailings pond construction project has been fully completed, and the construction drawing design is underway.

The overall optimization and tailings system reconstruction project of the wet plant at Gangbofu Mining has completed the preparation of the feasibility study report and submitted it for approval by the group. This project is scheduled to start construction in December 2024. As of now, all construction drawings have been completed, and the procurement of main process equipment has also been completed, with all expected to arrive on site by September 30 and project completion by December 30. The first phase of the western ore body development project plans a total investment of $85.8 million, updating the pre-feasibility study of the western ore body and supplementary exploration of the northern part of the western ore body to explore the extension of the upper ore body in the northern part of the western pit. The first phase of the MSESA ore body development project plans a total investment of $22.0 million, with an investment of $1.8 million planned for 2025 to conduct selection and smelting tests and mining technical condition research for MSESA, and based on this, complete the feasibility study for MSESA development. The sulfur dioxide replacement of sodium metabisulfite system transformation project plans an investment of $2.3 million, with a planned completion time of September 2025. The overall optimization and tailings system reconstruction project of the wet plant plans a total investment of $42.1 million, with a planned completion time of December 2025.

Production and operations remain resilient, and breakthroughs in external mergers and acquisitions

In the first half of 2025, the company faced increasing uncertainty in the external environment, with U.S. tariff policies leading to significant fluctuations in international copper prices; domestic turmoil and severe power shortages in the Democratic Republic of the Congo increased country risk; and smelting processing fees dropped to historic lows, severely reducing profits for pyrometallurgical smelting plants. Various adverse factors have disrupted the company's production and operations; however, African production enterprises have actively responded and overcome difficulties, essentially completing all production tasks, with major economic indicators reaching historical highs.

In the capital market, the company has further strengthened investor relations maintenance, maintaining positive interaction with domestic and foreign investors. By maintaining a high dividend payout ratio and actively rewarding shareholders, the company's performance in the secondary market has also been recognized by a wide range of investors. In June, the company announced the subscription of a portion of the equity in the Kazakhstan Benkara Copper Mine, with plans for further acquisitions to achieve control. This marks a breakthrough in the company's external mergers and acquisitions over the years and opens a new chapter in the company's development The Board of Directors of CHINFMINING stated: "In the second half of the year, the management will continue to stabilize production and ensure profits under the leadership of the board, place a high emphasis on safety and environmental protection, compliance operations, and sustainable development, promote the acceleration of various reforms, ensure the completion of annual production and operational targets, and achieve the overall goal of stable growth by 2025."