Jinchuan Group International Resources (HKG:2362) expects an attributable loss of up to $5 million for 2024, compared with $12 million a year earlier, according to a Sunday filing with the Hong Kong bourse.

The company attributed the loss to the impaired value added tax (VAT) receivables in Congo, partially offset by improved mining operations, which increased gross profit and reduced the impact.

The miner and trader of mineral and metal products plans to publish its annual results on or before the end of March.

The company's shares were up over 9% in recent trading.