Chinese copper producer Jiangxi Copper’s Q1 2021 revenue jumped 81.5pc to CNY102bn. The company’s net income was up 436.3pc in the same three-month period.
Nancheng-based Jiangxi Copper netted CNY859.4mn ($132.5 million) in income compared to CNY160.3mn during the same prior-year quarter.
Profits recovered from last year’s decline after the COVID-19 outbreak pushed demand for the red metal lower, Jiangxi noted in its filing to the Shanghai Stock Exchange on Wednesday.
The company has estimated its annual copper cathode production to be 5pc higher at 1.73mn mt in 2021.