Zijin Mining

Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Hello, everyone. I'm Anita Sony. I'm an analyst. Yeah. Good morning ladies and gentlemen. It's great to be back to Colorado Spring to attend this great conference where peers and partners in industrial can share insights and you know, apparently that we can exchange views on all the issues that are important to all of us in the industry. So please pay attention to our discriminate statement on the content of this presentation. So firstly, a brief introduction about Zu Jin Mining Group because apparently not all, not everybody in the audience is familiar with the company. The company started 32 years ago, in China, as a single gold mine company. And today it has become one of the most diversified multinational companies with operation in 17 countries across Asia, Europe, Africa, Oceania, Oceania, and South America. The company is now one of the world's largest producers of gold, copper, zinc, and is also an emerging lithium producer. But Tzu Chi is a district in Shanghai Stock Exchange and Hong Kong Stock Exchange with the most recent market cap of approximately $95 billion. So in the past year 2024, the company generated a total revenue of $43 billion US dollars, achieving a treatable net profit of $4.5 billion US dollars. A 52% year over year growth. We are one of the largest growing major corporate companies as well as one of the, the, the one of the fastest growing gold companies, with, with copper production growing at 24% and gold production growing at 16% annually in the past five years. The company has built a strong, diversified and future facing matters portfolio. Even though gold continued to be one of the most important business segments for the company, production for other metals, particularly copper, had grown faster in recent years. So in year 2024, copper production contributed 45% of the total profit of the group, and gold accounted for 30%, zinc, silver, and other matters combined contributed the remaining 25%. In recent years, gold apparently has become substantially more attractive to investors or even to central banks, under the current environment of macroeconomic uncertainty and geopolitical risk. But with the recent trend. Of global transition to clean energy, we believe that the market demand for metals like copper, like lithium, will continue to grow for years to come. So EG is what we take seriously. The company has implemented an integrated and deliverable policies and practices across the company to address the environmental, social, and corporate government issues that most of us in the industrial face. One of the most important that we have taken is the transition to renewable energy as part of our strong commitment to global action against climate change. In year 2020, the company set a target of getting 30% of energy from renewable sources by year 2030. But by the end of year 2024, a probably 27% of energy we consume had already come from renewable sources and therefore, we believe the set target of 30% can be achieved much earlier, or we could set a higher target for us, for ourselves. We also have significantly improved efficiency of water usage. In the past three years, company-wide. We have achieved a 19% reduction of water consumption. Most of the mines we operate have generally recycled all the waste waters and achieved zero discharge. Another key indicator that we monitor is the greenhouse gas emission intensity, which will reduce by over 21% in the past four years. We have set the goal of reaching carbon neutrality by 2050, and we are on track to achieve. The Go. So one of the experiences I would like to share is that transitioning to renewable energy doesn't have to come with higher cost. One example is the Jin's large scale deployment of Electric trucks and mine size. But the first half of this year, more than 600 electric trucks have been deployed in more than 1 dozen mines and in 6 countries where we operate. And there's no indication that costs are higher than traditional internal composite engine vehicles. And in fact, utilizing wind power and solar powers in some of our minds actually helps reduce energy cost. With this positive efforts and good resource, both from environmental perspective and from operational perspective. Our strategy of deploying electric vehicles and use of renewable and clean energy will continue across our minds where conditions allow. We need the support of local communities and securing the social license, a priority is paramount to the success of our operations. Some of our most important EIG indicators include improvement of local employment rates and implementation of more community development projects, focusing on job creation, education, healthcare, infrastructure, and local business development, particularly in the local agricultural sector. Our efforts in general are very well received by the communities where we operate. Even though Zhijin has become more diversified, gold is still a key cornerstone for the company. We will continue to pursue growth in the gold space. In 2024, the company produced 2.4 million ounces, 8% year to year growth. The steady growth of our product. will continue both through organic growth and selective acquisitions. For year 2024 for year 25, our target is to produce 2.7 million onset of gold, a 10% year over year growth, and this will be another milestone record in gold production for the company. So compared with our international peers, we don't, we don't operate the so-called tier one world class gold mines. But we have the benefit of operating in many resource raise jurisdictions that will allow us to continue expansion in the future. Altogether, we produce gold in 10 countries. Among these countries, China is still the largest in terms of amount of ons produced, accounting for about 1/3 of our total global output in the year 2024. And South America is almost equally significant to us. The 3 gold mines we operate in Colombia, Suriname, and Guyana combined contributed about 30%, followed by production in Australia and Central Asian region. Another exciting story I would like to share is our in the process IPO on the Hong Kong Stock Exchange of Zhi Jin Go International, a subsidiary of Zhijin Group. It holds our primary gold assets outside of China. The assets includes aid producing gold mines located in several regions. That are home to some of the world's richest gold mineral mineralization belts, including Central Asian Central Asia region, Western Africa, Australia, and Papua New Guinea and northern part of South American continent. These regions and countries possess significant gold resources and provide great opportunities for future growth. The aid producing gold mines combined produced 1.5 million ounces in the year 2024, and the pending transaction of the RG gold mine in Kazakhstan that the Zu Jin just acquired will also be included in this portfolio upon closing up the transaction. In 2025, the gold production is expected to be around 1.8 to 1.5 million ounces, making Zhi Jin gold International as an entity, one of the largest gold companies in the world. The IPO, which will be believed to be complete in the coming weeks, will be one of the largest, fundraising events for, the mining industry in recent years and one of the largest IPO worldwide in general this year. So here is a very brief illustration of some of the major mines that are part of Zu Jino International asset portfolio., including the British gold mine in Colombia, the northern gold fields, gold mine in Australia, and, the drought, gold mine in Turkistan, and, the Rosevelt gold mine in Suriname. So these four mine combined produce just over 1 million ounces in year 2024. Copper has now become Zhijin's largest and fastest growing business segments in recent years. In the past 5 years, we achieved a compounded annual growth rate of more than 20%. I believe that is the fairest among all the copper majors. In 2023, the company achieved a milestone of producing over 1 million tons of copper. Becoming one of the top five copper producers globally. In 2024, our copper production grew 6%, reaching 1.07 million tons. And for 2025, the target is to produce 1.15 million tons of copper, a 7% year over year growth. So Zhi Jin primarily operates copper mines in three countries, China, Serbia, and DRC. We're the largest copper company in China. We operate 3 out of China top 5 copper mines. So in year 24, we produce 450,000 tons of copper out of China. In Serbia,, in, in DRC we operate, the commute copper mine and in the region of Co Wii, and, we join the operate together with our JB partner Ivanhoe, the world, world-class copper mining district. With the total production of approximately 300,000 tons by Zhi Jin's equity interest sale, over 300,000 tons of copper out of DRC. So in Serbia, we operate two large copper mines also with a combined production of approximately 300,000 tons of copper, making Zhi Jin the second largest copper producer in Europe. Our growth momentum for both copper and gold continues into 2025. In the first half of the year, our gold production was around 1.3 million ounces, and copper production was 570,000 tons. Both historical record half year highs. With continued growth of both copper and gold production and the parity with the rising metal prices, the company in the first half of this year, the company also achieved, you know, historical financial performances. For the half a year of this year, the company recorded $23.5 billion of revenue and achieving $3.2 billion of attributable., profit to shareholders about, well, over 50% increase from the same period last year. So in late 2023, we released the new five years growth plan, laying out production guidance for years 2024 to year 2028. Under this five year plan. We are targeting annual growth rate of about 8% for both gold and copper productions. So compared with the double digit growth rate we achieved in the prior years, this, this growth target appeared to be moderate, but it was based on the historical milestone it achieved in year 2023. So we just deliver the major production goals, both for copper and for gold in year 2024. So, but we and with strong performance over the first half of this year, we believe that we are also on track to achieve goals of producing 2.7 million on gold and 1.15 1.5 million tons of copper for year 2025. Zhi Jin is also a major producer of zinc and silver and other metals, and production have been relatively stable in recent years for these matters, and they continue contribute materially to the company's financial performance. Additionally, Zhijin is becoming a major emerging lithium producer with 4 lithium projects currently under construction. So before I finish my presentation, once again, I would like to call for the strengthening of international cooperation, particularly in light of recent signs of anti-globalization and segmentation of global supply chains, as most of us in industrial would agree that international cooperation has been a key driver for the growth and for the health of the mining industry in the past. Many decades and in a matter of fact that the international cooperation serves the best interests of all shareholders including local communities, governments, employees, and priority shareholders. So this is the end of my presentation. I don't know whether I have any time left to answer possibly a couple of your questions. So, I think we have time for one question. If there's anything from the audience. Oh, sorry. Could you stand up so that they can, they're gonna grip, give you a mic. OK., Shen Shenheng woman Huan Ying Zai Lai meiguo, we welcome the United States. Well, you ya went to, I have an easy question. Are you planning to take your international business in an IPO? Sorry, sorry, your question again about the IP ongoing IPO, right? IPO for the international arm of Zin. Well, to be precise, it is going to be just producing gold mines outside of China combined as a portfolio going through IPO in Hong Kong. So for gold production, we pretty much have 3 sources. The biggest one still from China that is not included, and the second source is going to be by-products from copper mines, let's say from Serbia, they produce significant amount of gold as byproduct. So that's not part of the portfolio. And now all what are included are a producing wins in 8 countries, you know, primarily, gold producing wise. Thank you. Thank you very much. That's for our, time. Thank you. Thank you, thank you all.