Share This

Public company info - Jinchuan Group International Resources Co. Ltd. , 02362.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Jinchuan Group International Resources Co. Ltd., 02362.HK - Company Profile
Chairman Zhang Youda
Share Issued (share) 12,610,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Nonferrous Metal
Corporate Profile Business Summary: The principal activities of the Group are the mining operation and the trading of mineral and metal products. Performance for the year: The revenue for the year ended 31 December 2019 was US$1,246.9 million, representing a decrease of 10.9% compared to US$1,400.0 million for the year ended 31 December 2018. Gross profit of the Group decreased by 55.2% from US$198.8 million for the year ended 31 December 2018 to US$89.1 million for the year ended 31 December 2019. The Group recorded a consolidated profit of US$13.1 million for the year ended 31 December 2019 as compared to that of US$94.6 million for the year ended 31 December 2018. Business Review JCI and its subsidiaries are principally engaged in (i) the mining of metals, primarily copper and cobalt, in the DRC and Zambia; and (ii) the trading of mineral and metal products in the PRC and Hong Kong. The drop of copper and cobalt prices in 2019 as compared to 2018 had given rise to negative impact on the overall financial performance for the year. The Group has increased its production volume in the year to compensate part of the negative price impact. Mining Operations The Group has majority control over three operating mines in Africa which are Ruashi Mine, a copper and cobalt mine located in Lubumbashi, the DRC, Kinsenda Mine, a copper mine located in Katanga Province, the DRC and Chibuluma South Mine (including Chifupu Deposit), a copper mine located in Zambia. For the year ended 31 December 2019, the Group produced 73,057t of copper (2018: 61,624t) and 5,070t of cobalt (2018: 4,752t), and sold 75,549t of copper (2018: 64,101t) and 4,831t of cobalt (2018: 3,369t) which generated sales of US$387.6 million and US$77.9 million respectively (2018: US$370.5 million and US$235.7 million respectively). Copper production was 18.6% higher in 2019 as compared to 2018. The increase in copper production was mainly contributed by the increase in copper cathode produced by Ruashi Mine during the year as a result of higher volume of ore mined and milled, higher recovery rate recorded and the shift in focus from cobalt to copper during the year. Cobalt production was 6.7% higher in 2019 as compared to 2018. Lower grade cobalt ore was mined in the year, but the higher volume of ore mined and milled has cancelled out the drop in average grade, maintaining production at similar level as compared to 2018. The Group also has control over Musonoi Project, a copper and cobalt project at development stage, and Lubembe Project, a copper project in exploration stage. Both projects are located in the DRC. Trading of Mineral and Metal Products During the year ended 31 December 2019, Shanghai Jinchuan Junhe, a 60% owned subsidiary of the Group, has recorded a turnover of US$782 million (2018: US$794 million) via the trading of commodities, including copper cathode, nickel cathode, aluminum ingot, zinc ingot and glycol. Prospects: Looking forward into 2020, The group remains prudently optimistic about the prospects of the Company. Despite the impact of the novel coronavirus epidemic, risks exposed to the global mining industry, such as geopolitical conflicts and trade wars, and the downward pressure faced by the world economy, we believe that opportunities co-exist with challenges. Under the pressure of economic downturn, monetary policy will continue to ease up, various local governments will introduce measures to stimulate the economy, and the PRC will start a new round of large-scale infrastructure construction, all of which will stimulate the demand for upstream mineral products.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.