According to Futubull, on August 20th, Tibet Mineral Development and many other mining companies released their 2024 interim report, and many companies achieved high performance growth in the first half of the year. Among them, Tibet Mineral Development's net profit in the first half of the year increased by 338.99% year-on-year, and Shandong Nanshan Aluminium's net profit in the first half of the year increased by 66.68% year-on-year. In addition, Chongyi Zhangyuan Tungsten raised the long single quote in the second half of August: 55% black tungsten concentrate and white tungsten concentrate increased by 0.0045 million yuan/metric ton. At the same time, the Ministry of Natural Resources continued to promote the breakthrough strategy for mineral exploration, and a new round of gold mineral exploration breakthrough strategic alliance was formed to promote the exploration and development of energy and important mineral resources. Related symbols: Tianqi Lithium Corporation (09696), Zijin Mining Group (02899), CGN Mining (01164), CMOC Group Limited (03993), MMG (01208).

Chen Xuesen, member of the party committee and vice chairman of the China Nonferrous Metals Industry Association, and spokesperson for the association, stated that in the first half of the year, the added value of the nonferrous metal industry increased by 10.8% compared with the same period last year, which was 4.8 percentage points higher than that of the overall industrial sector. Among them, the added value of industrial enterprises in mining and ore dressing increased by 9.1%, an increase of 2.3 percentage points over the first quarter; the added value of industrial enterprises in smelting and processing increased by 11.1%.

It is reported that in the first half of 2024, the production of ten kinds of nonferrous metals was 39.002 million tons, a year-on-year increase of 7.1%. Among them, refined copper production was 6.672 million tons, a year-on-year increase of 7.1%; electrolytic aluminum production was 21.552 million tons, a year-on-year increase of 6.9%. The content of six kinds of concentrates was 3 million tons, a year-on-year increase of 0.1%; alumina production was 41.327 million tons, a year-on-year increase of 1.8%; copper material production was 10.61 million tons, a year-on-year increase of 0.2%; aluminum material production was 33.255 million tons, a year-on-year increase of 9.5%.

Specifically, in the first half of 2024, Tibet Mineral Development achieved operating income of 3.92 hundred million yuan, a year-on-year increase of 38.40%. Achieved a net profit attributable to shareholders of listed companies of 1.11 hundred million yuan, a year-on-year increase of 338.99%. Achieved a net profit of 96.3076 million yuan attributable to shareholders of listed companies after deducting non-recurring gains and losses, a year-on-year increase of 1170.61%.

As for the reason for the performance growth, Tibet Mineral Development stated in its interim report that during the reporting period, the company seized the opportunity of stable and rising prices of mainstream chromium ore blocks, continued to increase production capacity, adjusted and optimized sales strategies according to the market situation of lithium carbonate, and achieved significant growth in the sales of chromium ore and lithium concentrate compared with the same period last year. It actively carried out cost management and control, pushed for the implementation of preferential policies for corporate income tax, and achieved significant growth in operating performance.

In the first half of 2024, Shandong Nanshan Aluminium achieved operating income of 15.667 billion yuan, a year-on-year increase of 8.05%; achieved a net profit attributable to shareholders of listed companies of 2.189 billion yuan, a year-on-year increase of 66.68%. Shandong Nanshan Aluminium stated that the company has actively laid out the Southeast Asian market, built a 2 million ton alumina project in Indonesia, and plans to build an electrolytic aluminum project, providing a new growth point for the company's performance.

Baodi Mining achieved operating income of 0.583 billion yuan in the first half of 2024, a year-on-year increase of 69.61%; achieved a net profit attributable to shareholders of listed companies of 0.103 billion yuan, a year-on-year increase of 53.24%. Achieved a net profit of 91.9338 million yuan attributable to shareholders of listed companies after deducting non-recurring gains and losses, a year-on-year increase of 48.42%.

In the first half of the year, MMG turned losses into profits. In the first half of 2024, the group achieved revenue of 1.918 billion US dollars, a year-on-year increase of 1%; the profit attributable to equity holders of the company was 21.1 million US dollars, compared with a loss of 58.8 million US dollars in the same period last year.

It is worth noting that since August, the spot price of gold has repeatedly broken through the integer barriers of 2500 US dollars/ounce, 2510 US dollars/ounce and 2520 US dollars/ounce, reaching a historical high for the 25th time since the beginning of the year, with the highest price rising to 2525.23 US dollars/ounce. COMEX gold futures also rose rapidly in the same day, with the middle price rising to 2563.8 US dollars/ounce, which is the 30th historical high since 2024. Analysts believe that the main reasons for the recent continuous highs in gold prices are the rising expectations of a Fed rate cut and the increasing geopolitical risks overseas.

Meanwhile, the breakthrough strategy for mineral exploration continues. The Ministry of Natural Resources stated in a press conference that it will vigorously promote a new round of breakthrough strategies for finding minerals and encourage exploration and development of energy and important mineral resources. On July 19, the Ministry of Natural Resources also mentioned at a conference the need to strengthen the exploration and development of important energy and mineral resources, and to solidly promote a new round of breakthrough strategies for finding minerals. By improving and optimizing policies, social capital is mobilized to invest in strategic mineral resource exploration and development. Continue to strictly control land reclamation and accelerate the construction of the 'three national deep-sea platforms'.

On August 20th, a new round of gold mineral exploration breakthrough strategy alliance was established. The alliance was initiated and established by the Shandong Geological Mining and Exploration Bureau, and was jointly formed by exploration units, scientific research institutes, universities, and mining companies. The goal is to focus on the new round of breakthrough strategies for finding minerals, actively promote geological and technological innovation, give full play to the advantages of each party in comprehensive investigation of natural resources, development and utilization of mineral resources, professional technology, theoretical research, funding industry, etc., carry out integration innovation of science and industry, form a batch of scientific research and practical results to promote the core competitiveness of industry, and promote gold mineral resource exploration, development, and increased reserves and production, serving to safeguard national energy and resource security.

Looking ahead, China Post Securities believes that in the long term, under the influence of factors such as the increase in the US deficit rate, geopolitical disturbances, and the near-shoring of the US supply chain, the logic of central bank buying gold remains unchanged, and the pace of interest rate cuts may accelerate with the weakness of US employment. The gold market is expected to open again in the second half of 2024.

Tianfeng Securities believes that with the Federal Reserve entering the rate cut cycle, liquidity may gradually ease, and the gold price will be further supported. Gold stocks have duration attributes. In the bull market of gold, the performance trajectory of gold stocks usually follows the rise in PE first, and then with the rise in the price of gold, the performance of gold stocks gradually realizes, reaching the high point under the double effect of PE net profit release, and achieving the "Davis Double Click."

Related concept stocks:

Tianqi Lithium Corporation (09696): Tianqi Lithium Corporation's products mainly include lithium resources and lithium compounds, among which lithium resources mainly include lithium mines, etc., which are upstream raw materials for lithium compounds; lithium compounds are important raw materials for lithium batteries. Morgan Stanley believes that in the long run, Tianqi Lithium Corporation is still cost-competitive by importing ore from its Greenbushes mine, while increasing midstream production capacity to better utilize its upstream resources.

Zijin Mining Group (02899): Zijin Mining Group engages in the development of copper, gold, zinc, lithium and other resources worldwide, benefiting from rising metal prices for copper and gold in 2024, optimized cost structure of overseas mines, acquisitions, and increased production capacity of mines. The company's performance has continued to improve.

CGN Mining Co. Ltd. (01164): CGN Mining Co. Ltd. is one of the listed subsidiaries of CGN Group, the world's third-largest nuclear power group, and the only platform for overseas uranium resource development and investment under CGN Group. CGN Mining Company has 60% of its spot uranium price exposure and is expected to benefit from the rise in uranium prices.

CMOC Group Limited (03993): The company is engaged in the selection, smelting, deep processing, trade, research, and other activities of molybdenum, tungsten, and precious metals such as gold. It has a complete industrial chain of upstream and downstream operations such as molybdenum mining, beneficiation, roasting, molybdenum chemicals, and molybdenum metal processing.

MMG Ltd. (01208): MMG Ltd. is an Australian mineral exploration company. The company focuses on the exploration, development, and mining of zinc, copper, gold, silver, and lead deposits in Australia, Congo, and Peru. The company's business projects include Las Bambas, Kinsevere, Rosebery, and Dugald River. Las Bambas mine is an open-pit, scalable copper and molybdenum mining operation located in the Cotabambas region of Peru.