China’s Zijin Mining sees increasing threats to M&A ambitions

Major Chinese copper and gold producer Zijin Mining Group said a slowing global economy, geopolitical tensions, and resource nationalism could restrict its overseas deal-making ambitions.

Net income rose 46% to 15-billion yuan ($2.1-billion) in the first half, bolstered by higher prices for its commodities and cost controls, Zinjin said Friday in a stock exchange filing. Still, the company flagged negative factors in the future potentially impacting “the company’s revenue, profits, merger and acquisitions of new overseas projects.”