China's Xinjiang Baodi Mining Co., Ltd., a leading iron ore producer in Xinjiang, reported growth in both revenue and profit for the first half of 2026, with profit gains far outpacing revenue.

The company's core business covers iron ore mining, beneficiation and iron concentrate sales, with its primary product being iron concentrate powder produced from raw ore after beneficiation, and its main customers are large steel producers in Xinjiang and neighboring provinces.

Baodi Mining operates six mining areas: Beizhan, Norhu, Ziluoyibei, Songhu, Haxiyatu and Baoshan.

Among them, the Beizhan iron ore mine has an annual capacity of 10 million tonnes, the Norhu iron ore mine 5 million tonnes, the Ziluoyi North iron ore mine 3.2 million tonnes, the Songhu iron ore mine 2 million tonnes, the Haxiyatu iron-polymetallic deposit 1.44 million tonnes (including 1.2 million tonnes of iron and 240,000 tonnes of gold, zinc and copper), and the Baoshan iron ore mine 500,000 tonnes.

As of the report date, Baodi Mining's total retained iron ore resources stood at 737 million tonnes, with approved mining capacity of 21.9 million tonnes per annum for iron ore and 240,000 tonnes per annum for gold-zinc-copper ore.

Baodi Mining said its first-half 2026 results were supported by a continued focus on its core iron ore business alongside coordinated development of multiple mineral types. The company said it took various measures to stabilize existing output and expand new capacity, laying a solid foundation for sustainable and healthy growth.

Revenue reached 888 million yuan ($132 million) in January-June 2026, up 23.14% year on year, while total profit rose 84.61% to 249 million yuan, driven by new sales of gold-polymetallic ore powder and the consolidation of Congling Energy, according to its semi-annual report. 

Net profit attributable to shareholders surged 207.44% to 189 million yuan, mainly due to increased profit from wholly-owned subsidiary Haxiyatu and the consolidation of newly acquired Congling Energy.

Non-recurring items excluded, net profit attributable to shareholders jumped 242.92% year on year to 185 million yuan.

During the reporting period, Baodi Mining completed the acquisition of an 87% stake in Congling Energy, with share transfer completed on January 8, making Congling Energy a wholly-owned subsidiary.

The company also won a 66% stake in Kaihong Investment through public listing on the Beijing Stock Exchange, with share transfer completed on July 17, bringing Kaihong Investment under its control.

These moves added the Ziluoyibei iron mine in Akto County and the Norhu iron mine in Hejing County, significantly boosting the company's overall retained iron ore resources.