Core Viewpoint - In the first half of 2025, Minmetals Resources achieved record-high revenue of $2.817 billion, a 47% year-on-year increase, and a net profit of $566 million, up 612% year-on-year, supported by rising copper prices and production capacity improvements [2][3][4]. Financial Performance - Revenue reached $2.817 billion, up from $1.918 billion in the same period last year, marking a 47% increase [3]. - Net profit after tax was $566 million, compared to $79.5 million in the previous year, reflecting a 612% increase [3]. - EBITDA increased to $1.539 billion, a 98% rise from $779 million [3]. - The company's leverage ratio decreased from 41% at the end of 2024 to 33% [2][6]. Copper Production and Costs - The company sold 237,700 tons of payable copper, the highest for the same period since 2018 [4]. - Las Bambas mine produced 210,600 tons of copper concentrate, a 67% year-on-year increase, with a C1 unit cost of $1.06 per pound, lower than 75% of global mines [2][4]. - The company aims to achieve a copper production target of 400,000 tons for the year [2]. Strategic Initiatives - Minmetals Resources is actively expanding the Khoemacau mine's capacity to 130,000 tons per year, expected to be completed by the end of 2027 [5]. - The company plans to increase exploration efforts around existing mines to seek low-cost reserves [5]. - The company is pursuing a strategic acquisition of the nickel business from Anglo American in Brazil, with a planned expenditure of $350 million [6]. Market Outlook - Management expressed confidence in the copper market, citing prolonged development cycles for quality projects and sustained high demand [5]. - The company maintains a growth-oriented strategy, focusing on stable operations and project development [6].
一矿贡献全省75%GDP 五矿资源上半年税后利润同比增6倍 公司行政总裁赵晶：这里或成秘鲁第一大铜矿