Jinchuan InternationalAs the world's leading copper and cobalt mining company,Mining in ChinaThe only overseas capital platform under Jinchuan Group, a large state-owned enterprise that is one of the giants, has a natural advantage in resource reserves;

Affected by the epidemic at the beginning of this year, copper prices fell to the lowest level since 2017 in March 2020, putting pressure on interim results. However, after March, as the domestic epidemic prevention situation became more and more clear, the resumption of work and production progressed in an orderly manner, and demand for copper and cobalt slowly recovered. At the same time, the epidemic situation abroad is severe, causing frequent shutdowns in large-scale mines to affect copper ore supply, further supporting the rise in copper prices;

According to financial estimates, in the third quarter of this year, Jinchuan International's copper and cobalt revenue from its own mines was 152 million US dollars, an increase of 40.7% over the previous year. Among them, revenue from cobalt ore was about US$28.97 million, an increase of 94% over the previous year; revenue from copper ore was US$124 million, an increase of 32% over the previous year. Among them, copper ore was realizedVolume and price have risen sharply, sales of cobalt ore have risen sharply. According to published data estimates, in the third quarter, the company's copper and cobalt ore sales were 18,731 tons and 1,623 tons respectively, up 5.1% and 106.8% year-on-year. Among them, copper prices rose 51% year-on-year due to 4,381 US dollars/ton rising to 6,601 yuan/ton in the same period last year. In addition, revenue from external procurement and metal trade fell 91% year on year. This part of the trade business, which has low gross margins and uses a lot of capital, was further compressed, which helped the company concentrate resources on mine construction and achieve greater performance flexibility. (Glonghui)