Zijin earnings: guidance and what to watch
Zijin's next results are expected on October 24, 2026. Watch sustained production and the tax cost of earning it.
What has Zijin guided for the year?
Management guides to 105 tonnes of mine-produced gold and 1.2 million tonnes of mine-produced copper. It also targets 120 thousand tonnes of lithium carbonate equivalent. These are production targets, not earnings promises, because profit still depends on prices, costs and taxes.
Flooding at Kamoa-Kakula in the Democratic Republic of Congo reduced the mine’s planned annual copper range to 290–330 thousand tonnes. The lower range was disclosed after the earlier plan, but the important question is how much of that loss belongs to Zijin.
| period guided | low | high | date given | |
|---|---|---|---|---|
| Mine-produced gold (tonnes) | Year to Dec 2026 | 105 | 105 | Apr 27, 2026 |
| Mine-produced copper (million tonnes) | Year to Dec 2026 | 1.2 | 1.2 | Apr 27, 2026 |
| Lithium carbonate equivalent (thousand tonnes) | Year to Dec 2026 | 120 | 120 | Apr 27, 2026 |
| Kamoa-Kakula Copper Mine, mined copper (thousand tonnes) | Year to Dec 2026 | 290 | 330 | Sep 25, 2026 |
Did Zijin keep its past promises?
Repurchasing shares does not automatically prevent dilution. Shares placed with employees reduce the effect of the buyback, while options can increase the diluted share count. Operating delivery was also mixed: gold exceeded its plan, while copper and lithium fell short. The useful test is therefore whether rewards follow durable cash generation and returns per share.
What is Zijin's last eight-quarter results trend?
June 2026 showed stronger profitability than a year earlier. Revenue reached RMB95,680.9 million, compared with RMB88,782.6 million in June 2025. Net income rose to RMB19,090.4 million from RMB13,125.0 million, while gross margin reached 39.2% against 24.5%.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 95,680.879039 | 98,497.579591 | 94,879.539612 | 86,488.690009 | 88,782.570315 | 78,928.282916 | 73,243.477134 | 79,979.965562 |
| Gross margin | 39.2% | 36.3% | 35.2% | 27.2% | 24.5% | 22.9% | 23.0% | 20.2% |
| Operating income | 32,083.519548 | 31,704.256381 | 25,647.124609 | 21,362.389327 | 19,959.342295 | 15,141.279291 | 12,978.801893 | 13,863.778216 |
| Net income | 19,090.415736 | 20,079.391507 | 13,913.706811 | 14,571.868503 | 13,124.975376 | 10,166.777095 | 7,693.134516 | 9,273.073263 |
| EPS, diluted | 0.74 | 0.54 | 0.38 | 0.34 |
What should I watch in Zijin's next results?
The decisive evidence will be sustained production, successful commissioning and the tax cost of earning it.