Burkina Faso plans to withdraw some mining permits, junta leader says
Gold is the main export of the West African country.
China’s biggest gold and copper producer Zijin Mining Group expects first-half net profit to have jumped by as much as 50%, the company said in a trading statement on Monday.
First-half net profit could reach up to 15.5 billion yuan ($2.13 billion), up 50% year on year, Zijin’s statement said, citing higher output.
Gold output was expected to increase by 9.6% to 35.4 metric tons, with copper up 5.3% at 518,000 tons and silver up 1.3% at 210.3 tons.
Global prices of gold and silver rallied sharply in the first half of this year as investors rushed to buy safe-heaven assets amid geopolitical tensions. Copper also hit record highs in May on speculative buying.
($1 = 7.2695 Chinese yuan renminbi)
(By Siyi Liu and Mei Mei Chu; Editing by David Goodman)
RANKED: World’s top 10 gold mining companies
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