China Nonferrous Mining's profit jumps despite revenue dip in H1 2025

China Nonferrous Mining Corporation announced unaudited interim results for the six months ended June 30, 2025, reporting revenue of $1,751.5m, a 12.9% decrease from $2,009.8m in the first half of 2024. Despite this, net profit surged by 22.5% to $371.3m from $303.2m, and profit attributable to owners of the Company rose 20.2% to $263.3m (2024: $219.1m). Basic earnings per share increased by 17.4% to US¢6.75 from US¢5.75.

The improved profitability was largely driven by an increase in global copper prices and higher sales volumes of self-produced blister copper, copper anodes, and copper cathodes. Other gains and losses also contributed positively, with a net gain of $48.7m, up $45.3m from the previous year, primarily due to the appreciation of ZMK against the US dollar. However, distribution and selling expenses rose to $4.5m, and administrative expenses increased to $96.1m, partly due to a temporary suspension of production at SML.

Total capital expenditure for the period was $108.4m, a significant increase of $62.4m compared to the first half of 2024, reflecting increased investments in projects such as Chambishi Southeast Mine, new mine developments at Luanshya, and Kambove Mining. The board did not recommend an interim dividend for the six months ended June 30, 2025.