China Nonferrous Mining Corporation Limited Q1 2026 Production & Operation Report: Key Highlights for Investors

Date: 24 April 2026
Stock Code: 01258 (HKEX)

Summary of Key Points

• Strong Profit Growth: The Group expects profit attributable to owners of the Company for Q1 2026 to be approximately US\$201 million, an increase of about 63% year-on-year.
• Increased Copper Cathode Production: Produced around 38,635 tonnes of copper cathodes, up approximately 10% year-on-year, achieving 29% of its annual production guidance.
• Mixed Results in Other Key Products:
  • Blister copper and copper anode production fell by around 7% year-on-year to 102,061 tonnes.
  • Sulphuric acid output declined by about 3% year-on-year to 262,686 tonnes.
  • Cobalt contained in cobalt hydroxide dropped sharply by approximately 81% year-on-year to 43 tonnes.
  • Liquid sulphur dioxide production surged by about 158% year-on-year to 3,072 tonnes.
• Revenue Drivers: The strong profit increase is attributed to higher global copper prices and increased sales volume and price for sulphuric acid.

Detailed Segment Performance

NFCA

• Copper anode production: 13,921 tonnes, down 26% year-on-year. The decrease was due to the resumption of production at the Southeast Mine in January, resulting in a shift in processing schedules.

Luanshya

• Copper cathodes: 11,703 tonnes, up 2% year-on-year.

CCS

• Blister copper and copper anodes: 60,578 tonnes, down 16% year-on-year.
• Internal processing: 14,229 tonnes. External processing: 29,650 tonnes.
• Sulphuric acid: 167,448 tonnes, down 8% year-on-year. Production was affected by weather (rainy season) and maintenance, leading to lower copper concentrate supply.

SML

• Copper cathodes: 884 tonnes, up 17% year-on-year.
• Copper anodes: 308 tonnes.

CNMC Huachin Mabende

• Copper cathodes: 10,245 tonnes, up 47% year-on-year. The surge was due to improved electricity supply reliability for production.

Huachin Leach

• Copper cathodes: 6,154 tonnes, down 3% year-on-year (2,508 tonnes processed for external enterprises).
• Cobalt in cobalt hydroxide: 43 tonnes, down 57% year-on-year.

Lualaba Copper Smelter

• Blister copper: 41,483 tonnes, up 10% year-on-year (18,401 tonnes for external enterprises).
• Sulphuric acid: 95,237 tonnes, up 6% year-on-year.
• Liquid sulphur dioxide: 3,072 tonnes, up 158% year-on-year.

Kambove Mining

• Copper cathodes: 9,649 tonnes, up 2% year-on-year.

Other Noteworthy Information

• The production and operational data are derived from internal management accounts and have not been audited or reviewed by external auditors.
• The company cautions investors about the forward-looking nature of some statements, emphasizing inherent risks and uncertainties, especially in commodity markets and operational factors.

Potential Share Price Movers

• Substantial profit growth (+63%): This is a significant positive surprise that could drive share price appreciation.
• Strong copper cathode and liquid sulphur dioxide production increases: Reflects operational improvements and potential margin growth.
• Weakness in cobalt and some copper segments: May offset positive sentiment for some investors, but the overall profit performance is likely to dominate the market reaction.
• Commodity Price Sensitivity: The report highlights the sensitivity to global copper prices, which are currently a positive driver.

Disclaimer

This article is based on internal management reports of China Nonferrous Mining Corporation Limited for Q1 2026, which have not been audited or reviewed by external parties. All forward-looking statements are subject to risks and uncertainties, and investors are advised to exercise caution. This article does not constitute investment advice or a profit forecast. Please refer to official company filings and consult with professional advisors before making investment decisions.

View CHINFMINING Historical chart here