ZIJIN MINING GROUP C

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Zijin Mining Nine-Month Net Profit Jumped 52%

10/19/2020 | 06:49am

By Yifan Wang

Zijin Mining Group Co. said its net profit for the first nine months of the year jumped 52%, thanks to higher production and sales volume, as well as improved cost efficiency.

Net profit rose to 4.57 billion yuan ($682.3 million), the Chinese mining company said Monday.

Revenue increased 28% from a year earlier to CNY130.43 billion, as the production output and sales volume of the company's mineral products rose.

Selling expenses and administrative costs declined, thanks in part to cost-saving efforts, Zijin said.

Write to Yifan Wang at yifan.wang@wsj.com

(END) Dow Jones Newswires

10-19-20 0648ET

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