On July 9th, Zijin Mining announced that its wholly-owned subsidiary, Tibet Zijin Industrial Co., Ltd., had completed the acquisition of 50.1% equity of Julong Copper, realized the holding of the project and led the development of the largest proven porphyry copper mine in China. After the completion of the acquisition, Zijin Mining’s equity copper resources exceeded 62 million tons.
Since the Zijin team settled in Julong Copper, the Tibet Autonomous Region Party Committee Government has given full trust and support to the rejuvenation of Julong Copper. The government of Mozhugongka County, where the project is located, approved the resumption of the project on July 3. Zijin Mining actively fulfilled its commitments, and reached agreement with neighboring communities to resolve historical issues and future business cooperation, and promoted the relevant procedures for the continuation of forest land, grassland, land, mineral rights, and safety production licenses in accordance with laws and regulations.
In order to promote the construction of the project with high quality, the Zijin team set the on-site command headquarters at the highest elevation concentrator in the Qulong mining area, and actively decomposed and implemented it in accordance with the company’s established “Quanlong copper mine put into production by the end of 2021” to seize construction gold. During the period, 46 uncontracted projects have been awarded recently, and 408 people from the first 12 construction teams have been organized.
Julong Copper holds three mineral rights: Qulong Copper Polymetallic Mine, Rongmu Cula Copper Mine and Zhibula Copper Polymetallic Mine. The overall copper metal content of the project reaches 10.4 million tons, and the prospective copper resources are expected to exceed 20 million tons. The project will implement large-scale open-pit mining in two phases. The first phase is planned to be completed and put into production by the end of 2021, with an annual output of 165,000 tons of copper and 62,000 tons of molybdenum; 10,000 tons of construction, with an annual output of 263,000 tons of copper and 13,000 tons of molybdenum.
Zijin group is one of PUDA customers , Puda sold a wide rang of packing system to Zijin, wchich for copper concentrate.
