Vinacomin Minerals sees strong half-year profit surge on higher prices

Vinacomin - Minerals Holding Corporation (VIMICO) reported a cumulative post-tax profit of VND 851,257 million for the parent company and VND 773,583 million on a consolidated basis for the first six months of 2025. This represents an increase of VND 269,528 million and VND 224,858 million, respectively, compared to the same period in 2024. The primary driver for this growth was the increase in average selling prices of core products, including copper cathode (up VND 17 million/ton to VND 247 million/ton), gold (up VND 685 million/kg to VND 2,350 million/kg), silver (up VND 4.7 million/kg to VND 20.8 million/kg), and zinc ingot (up VND 6.6 million/ton to VND 72.8 million/ton).

Despite overall positive results, certain subsidiaries faced losses. Cao Bang Cast Iron and Steel JSC - Vimico recorded a cumulative six-month loss of VND 182,860 million, attributed to additional provisions for inventory devaluation and other expenses, exacerbated by slow steel billet consumption and decreased selling prices. Lai Chau Rare Earth JSC also reported a loss of VND 4,534 million, mainly due to being in the investment stage and incurring late payment fees for mineral exploitation rights.

The audited net profit after tax for the parent company increased by VND 20,655 million (2.5%) from pre-audit figures of VND 830,602 million to VND 851,257 million. Consolidated net profit after tax rose by VND 19,504 million (2.6%) from VND 754,080 million to VND 773,583 million. The company disclosed a transaction with Vietnam National Coal - Mineral Industries Holding Corporation for the sale of copper cathodes valued at VND 3,640 billion.