The growth of the mining industry in China shows no sign of slowing down. Despite a slowing economy and the continuing trade war with the United States, the steel industry in China shows signs of being resilient. In October 2023, China produced 79.1 million tons of crude steel, roughly 53% of the world's 150 million tons produced that month. Minerals from the mining industry in China are usﷺed to make everything from iPhones to missiles, in addition to numerous other goods that the American consumer and the U.S. economy rely on.

Here are some of the largest Chinese mining companies. Note that the stocks of these companies trade on the Hong Kong Stock Exchange or the 澳洲幸运5开奖号码历史查询:Shanghai Stock Exchange.

China Shenhua Energy Co., Ltd.

China Shenhua is an integrated energy company that operates primarily through its coal division. The company operates several coal mines and is involv🌠ed in the production aওnd transportation of coal and coal products.

In the first quarter of 2023, China Shenhua continued to show strong financial performance. The company’s revenue was RMB 87 billion, marking a 3.7% increase compared to the same period last year. The net cash generated from operating activities was RMB 29.2 billion, a 2.7% increase. 

As of March 31, 2023, the total assets of the company were RMB 647 billion, a 3.5% increase, and the equity attributable to the company was RMB 418 billion, a 5.4% increase.

China Coal Energy Co., Ltd.

China Coal Energy Company Limited mines and processes coal products. It produces ⛦thermal coal and coking coal products and also conducts coal chemical production, coal minin🌼g equipment manufacturing, pit mouth power generation, and coal mine design businesses.

In the fiscal year 2022, China Coal Energy reported revenue that had decreased 8% from year-over-year. However, the company also reported 15% less expenses, resulting in a 29.1% higher gross margin. The company reported approximately RMB 339 billion of assets at the end of 2022.

Zijin Mining Group Co., Ltd.

Zijin Mining Group is principally involved in gold mining and smelting, though the company also mines for copper, lead, zinc, silver, and iron products in smaller quantities. In 2022, Zijin Mining Group achieved new records in performance, with an operating income of RMB 270.3 billion, a profit before tax of RMB 30 billion, and a net attributable profit of RMB 20 billion. These figures represent a growth of more than 20% by all three indicators.

China Northern Rare Earth Group High-Tech Co., Lt🌸d.

China Northern Rare Earth Group, formerly known as the Inner Mongolia Baotou Steel Rare Group, is engaged in producing rare earth metals, oxides, and salts.

In the third quarter of 2023, the company's revenue was 8.4 billion CNY. The company's 2022 revenue was 37 billion CNY and its net income increased 22.6% from 2021. The company experienced tremendous success in 2021 with its year-over-year gross margin nearly quadrupling.

Jiangxi Copper Co., Ltd.

Jiangxi Copper is one of China's largest copper producers. It manufactures, distributes copper products, and produces copper cathode and other copper products. Jiangxi Copper also operates minerals development, finance, investment, trade, logistics, and other businesses.

At the end of 2022, the company reported total revenue of 480 billion CNY with a gross profit of 14.3 billion CNY. The company grew its revenue from 443 billion CNY in 2021, though the company earned 3 billion CNY less in gross profit in 2022.

Sh💧aanxi Coal and Chemical Industry ✃Group Co., Ltd. 

🅘 Shaanxi Coal and Chemical mines, processes𝄹, and sells coal products. It also produces long flame coal, caking coal, noncaking coal, gas coal, lump coal, washed coal, coal chemicals, and other products.

For FY2022, the company's revenue was 166.8 billion CNY, up from 152 billion CNY in 2021. The company's gross profit increased by more than 20 billion CNY from 2021 to 2022.

China Molybdenum Co., Ltd.

China Molybdenum is a mineral mining and exploration company. It mines for molybdenum, tungsten, niobium, cobalt, copper, and more. In 2022, China Molybdenum Co., Ltd. reported a revenue of RMB 91.77 billion, marking an 8% increase year-over-year1. The company also achieved a record net profit attributable to the parent of RMB 4.15 billion, up 72% YoY.

Shandong Gold Mining Co., Ltd.

Shandong Gold Mining operates gold mining and production businesses. It p🌟rovides gold exploration, processing, and outsourcing of gold smelting services. It also operates gold jewelry purification and non-ferrous metal production businesses.

In 2022, Shandong Gold Mining Co., Ltd. reported a significant increase in its production. The company’s mineral gold output was 38.673 mt, up 13.892 mt year-on-year, with an increase of 56.06%. The net profit of the firm was 1.25 billion yuan, up 1.44 billion yuan year-on-year.

Yanzhou Coal Mining Co., Ltd.

Yanzhou Coal Mining Company Limited operates coal businesses. The company produces fine coal,🅷 blown coal, power coal, and coal chemical products. Yanzhou Coal Mining also operates power generation, railway transport, mac💞hinery manufacturing, and heating businesses.

The company reported RMB 154.6 billion of income in 2022, an increase from RMB 108.6 the year prior. The company's profit before tax more than doubled from 2021 to 2022.

The Bottom Line

China’s mining industry is vast, leading the world in the production of numerous minerals including aluminum, cement, coal, gold, graphite, iron and steel lead, magnesium, rare earths, and zinc. China's dominance in the space is led by a number of firms, all of which are among the largest mining companies in the world.