Zijin Mining has risen rapidly in recent years to become a leader in the global mining field. The company has not only achieved significant growth in mineral gold and mineral zinc, but has also rapidly expanded its position in the global copper market through a series of acquisitions.
In the past few years, Zijin Mining has successfully acquired world-class copper projects such as Kamoa copper mine in Congo (DRC), Julong Copper Mine in Tibet, Bor Copper mine in Serbia and Pegi copper and gold mine in Serbia. With the addition of these projects, Zijin Mining's copper production has achieved astonishing growth: from more than 200,000 tons in 2017, to more than 500,000 tons in 2021, and then to more than 900,000 tons in 2022. It is expected that in the next few years, this number will continue to grow and enter the top five in the world.
Chen Jinghe, chairman of Zijin Mining, pointed out that the reason why the company can achieve such remarkable results in the "going out" strategy is mainly due to its strong technical capability and innovation ability. In the course of its global development, Zijin has successfully turned around five loss-making projects that were originally operated by Western companies, demonstrating its excellent management and operational capabilities.
Take Bor copper mine in Serbia as an example, this century-old mine was on the verge of bankruptcy due to management and technical problems. However, after Zijin took over, it quickly focused on the main production business, solved various problems that restricted the improvement of production capacity, and vigorously promoted technological transformation. In just six months, the project successfully turned a profit. Similarly, under Zijin's operation, the Paige copper and gold project in Serbia took less than two years from acquisition, construction to production, greatly shortening the return on investment cycle.
Chen Jinghe said that Zijin Mining has independent technology and management capabilities in all aspects of prospecting, mining, beneficiation, smelting and environmental protection. This system thinking and whole-process autonomy gives the company a significant advantage in project execution. By contrast, many Western multinational mining companies rely on third-party consultants for all but prospecting.
Looking forward to the future, Zijin Mining is committed to transforming the advantages of mineral resources into advantages of economic and social benefits, and building a high-level ESG system in accordance with international advanced standards. In the context of increasingly fierce global mining competition, Zijin Mining with its strong technical strength and excellent management ability, will undoubtedly continue to maintain a leading position in the future development.
