◎Highlight: In 2022, the Company’s mined copper production increased by 290 thousand tonnes. Such increment accounted for approximately 40% of the net increment of global copper production in 2022. Among the major copper producers in the world, the Company has the largest growth in terms of the mined copper production volume, making it one of the top copper miners in the world. Among the world’s top five newly discovered copper mines in the 21st century, the Company owns three slots of world-class mega copper mines, including Kamoa-kakula Copper Mine in DR Congo, the Čukaru Peki Copper (Gold) Mine in Serbia and the Julong Copper Mine in China. All of them have entered into commercial production within a short time, and realized a continuous growth in reserves and resources.

◎Resources: Copper resources reached 73.72 million tonnes, of which the proved and probable reserves were 32.09 million tonnes.

◎Production:The Group produced 1,568,166 tonnes of copper, representing an increase of 29.47% compared with the same period last year (same period last year: 1,211,230 tonnes, as the interest in Kamoa under the calculation is adjusted to 45%, the output is therefore increased by 5,732 tonnes, and the output in the 2021 announcement has been adjusted).

Among which, 877,317 tonnes of mined-copper were produced, representing an increase of 48.72% compared with the same period last year (same period last year: 589,897 tonnes).

690,849 tonnes of copper were produced from smelters, representing an increase of 11.19% compared with the same period last year (same period last year: 621,334 tonnes).

◎Costs: During the reporting period, the unit cost of sales of mine-produced copper was RMB19,862/tonne, representing an increase of 9.17% compared with the same period last year (same period last year: RMB18,194/tonne).

◎Contribution: Sales income from the copper business represented 24.77% (after elimination) of the operating income during the reporting period. Gross profit generated from copper products represented 49.44% of the gross profit of the Group.

Notes: 

1.Including the interest held indirectly through Ivanhoe, the Company holds 13.59% equity interest in Ivanhoe.

2.Including 73,834 tonnes of SX-EW copper.

3.Including 24,665 tonnes of electrolytic copper.

4.Including 22,482 tonnes of SX-EW copper.