On May 16, Zijin Mining released its "Five-Year Development Plan," setting a target to achieve its 2030 goals by 2028. The company aims to increase copper output by at least 49% to 1.5-1.6 million tonnes, gold production by 47% to 100-110 tonnes, and lithium carbonate equivalent production by 82 times to 250,000-300,000 tonnes. Meeting these targets would place Zijin Mining among the top three global copper producers and establish it as a major player in the lithium industry.
Rapid Growth and Strategic Vision
Zijin Mining has seen remarkable growth over the past 30 years, ranking fifth in global copper production and seventh in gold production by 2023. The company has consistently exceeded its copper production guidance for five consecutive years.
In 2023, Zijin Mining revised its strategic goals based on three years of achievements and changes in the external environment, aiming to achieve comprehensive global first-class status by 2030. That year, the company's primary products continued to grow significantly, with copper production reaching 1.01 million tonnes, making it the only Asian company to exceed one million tonnes of copper production.
Key projects like the Kamoa Copper Mine in the Democratic Republic of Congo, the Julong Copper Mine in Tibet, and the Čukaru Peki Copper-Gold Mine in Serbia, along with aggressive acquisitions and over 30 million tonnes of deep porphyry copper resources mined using the cost-effective block caving method, underpin Zijin Mining's growth strategy.
In addition to copper, Zijin Mining plans to produce 85 tonnes of gold in 2025 and 100-110 tonnes by 2028. The company is also focusing on the growth of other metals such as lithium, molybdenum, and silver. Since 2021, Zijin Mining has rapidly secured significant lithium resources and advanced various projects to enhance its position in the lithium market.
Strategic Adjustments and Future Goals
Zijin Mining has made tactical adjustments to its lithium sector, prioritizing cost control and technological innovation over rapid construction and production. The 2025 lithium production target has been revised to 100,000 tonnes, with a goal of 250,000-300,000 tonnes by 2028.
The company's strategic planning and execution capabilities are evident from the high completion rates of its production targets over the past decade. Zijin Mining's updated plan aims to achieve its major 2030 targets by 2028, establishing an advanced global operation management system and ESG sustainable development system, and becoming a "green, high-tech, first-class international mining group."
Chen Jinghe, Chairman of Zijin Mining, emphasized the importance of "improving quality, controlling costs, and increasing efficiency," along with proactive reform and innovation to continuously enhance metal resource reserves and production output.
Source: Zijin Mining
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