China Gold International Resources Reports 2026 Third Quarter Results
China reports a 12% year-to-date decline in gold volume, as higher prices in the third quarter offset the reduced production output.
China Gold International Resources Corp. Ltd. (CGG) released its financial results for the third quarter and the first nine months of 2026. The company reported that Q3 2026 revenue reached US$454.0m, a 32% increase from US$345.0m in the same period of 2025. Mine operating earnings for the quarter rose to US$297.2m, an increase of US$100.2m from US$197.0m, while net profit climbed to US$254.1m, up US$111.8m from US$142.3m. Cash flow from operations was recorded at US$334.4m, compared to US$234.7m in the prior year period.
Production figures for Q3 2026 showed gold output at 41,891 oz, a 2% rise from 41,150 oz. Copper production stood at 42.29 Mlb, essentially flat against 42.34 Mlb. For the nine-month period, revenue totaled US$1,368.2m, up 48% from US$925.4m. Mine operating earnings increased to US$917.4m, a gain of US$443.3m over US$474.1m, and net profit reached US$766.3m, an increase of US$421.7m from US$344.6m. Cash flow from operations for the nine months was US$889.6m, up from US$569.6m.
Over the nine-month period, gold production decreased to 114,208 oz, down 12% from 129,350 oz. Copper production for the same timeframe was 120.9 Mlb, a slight increase from 119.3 Mlb. The release did not include data on AISC, cash cost, realized price, grade, recovery, capex, balance-sheet items, dividends, or buybacks. While the CEO quote cited “various operational challenges,” it did not quantify the impact of the CSH slope suspension or the Jiama earthquake in the operating highlights.
China Gold International Resources Corp. Ltd. (CGG) reported third-quarter results showing price-driven margins holding near record levels, sequential acceleration in cash flow, and a return to modest year-over-year gold growth. The company posted a net profit of US$254.1m, which, while below the US$275.8m record set in the second quarter of 2026, remains the second-highest quarterly result in the provided releases. Revenue decreased 1.5% quarter-over-quarter, mine operating earnings fell 9.2%, and net profit declined 7.9%. Conversely, operating cash flow rose 16.7% quarter-over-quarter.
Despite lower nine-month gold volume, the company continues to generate substantial cash flow. However, volume delivery remains the weaker aspect of performance, with nine-month gold production down 12% and copper output only modestly higher.
On the release date, CGG shares closed at C$30.64, down 2.9% from C$31.54 the previous day. The stock had already declined 36.7% from its September 9 high of C$48.40, indicating the results did not reverse the market’s cautious positioning.
China Gold International Resources Corp. Ltd. (CGG) is a producing gold and base metals miner incorporated in British Columbia, Canada, with headquarters in Vancouver. The company operates two mines in China: the CSH Gold Mine in Inner Mongolia and the Jiama Copper-Gold Polymetallic Mine in Tibet.
Jiama is 100% owned through Tibet Huatailong Mining Development Company and produces copper, gold, silver, molybdenum, lead and zinc. The mine is currently running at about 34,000 tpd versus 50,000 tpd design capacity, with a target to return to design capacity in 2028. The proposed 160,000 tpd expansion is at PFS stage.
CSH is an open-pit gold mine approaching the later stage of its mine life. The company is advancing an underground block-cave transition and has engaged SRK for an independent NI 43-101 feasibility study. The company is listed on the TSX under CGG and on the HKEX under 2099.