Western Mining net profit up 15%, copper project delayed

Western Mining reported net profit growth of 15% despite management expenses rising 27%.

Subsidiary Xinyuan Mining's net profit fell due to a 52 million yuan impairment charge on fixed assets.

The company's Yulong Copper Phase III project is expected to obtain permits by late 2025, enabling construction to begin. Western Mining anticipates copper prices will remain high due to tight supply-demand balance driven by new energy and AI sector demand.