Zijin Mining (2899 HK/601899 CH) Equities Metals & Mining H/A: Buy/Buy: Gold strength lifts earnings, despite higher costs 3Q25 results review: Zijin Mining reported 3Q25 net profit of RMB14.6bn (+11% q-o-q, +57% y-o-y), slightly beating our estimates due to higher sales volume and gold ASP, which more than offset cost increases. Mined gold sales volume increased 9% q-o-q and 27% y-o-y as the contribution from newly acquired mines began to materialise, while mined copper sales volume remained flat q-o-q but ...