 Zijin Mining Group Co.,Ltd is located in Shanghai County, Fujian Province, People’s Republic of China. It is a large-scale state-holding mining group centered on prospecting and development of gold and other basic metal resources.
Formally known as Shanghang County Mining Company established in July, 1986, Zijin mainly involved in the local development, buying and selling of mineral products such as iron ore and manganese. In 1993, Zijin started its exploration of Zijinshan gold mine located in Shagnhang County, Fujian province and achieved its first historical leap after a decade of rolling development. In 2000, Zijin completed its stock system reform, starting a new leaps and bounds period. Going out of Zijinshan to the whole China and facing the global market was the main rhythm in this development period. In 2003, Zijin Mining Group was listed in HongKong stock exchange; in Apr 2008, it was listed in Shanghai stock exchange market.
Currently, Zijin is a large-scale Mining Group Company mainly focused on gold exploration with development of other basic metals including copper, lead, zinc, tungsten and iron. With subsidiaries spreading over 20 provinces nationwide and 9 countries overseas, Zijin is the largest gold producer, second largest copper producer and the fifth largest zinc producer in China, as well as a Chinese enterprise with most maintenance of mineral resources. In 2010, Zijin ranked 1128th in the list of “2010 Forbes Top 2000 Global Enterprises”.
In 2010, the Group achieved a sales income of RMB 28.54 billion, and a total profit of RMB 7.33 billion. During the first half of 2011, the Group achieved a sales income of RMB 15.852 billion representing an increase of 17.77% comparing to the same period of last year; and achieved a total profit of RMB 49.02 billion, representing an increase of 29.91%. By the end of June 2011, the total assets of Zijin Mining Group were RMB 45.523 billion; net assets attributable to parent Company were RMB 23.172 million. According to the statistics of the China Gold Association, the mined gold production of Zijin Mining Group in 2010 accounted for 10.42% of mined gold in China, and Group’s net profit represented 29.48% of the aggregate profit generated by gold producers in China. Zijin Mining Group is one of the largest and most efficient mined gold producers in China. The total gold output in 2010 ranked sixth in the list of worldwide gold producers.
By the end of 2010, the resource/reserve holding of Zijin Mining were as follows: 24,118,000 oz（750.17 tons） of gold, 58,768,000oz（1827.9 tons） of silver, 10,578,700 tons of copper, 392,500 tons of molybdenum, 5.23 million tons of lead plus zinc, 173,400 tons of tungsten (W2O3), 184.5 million tons of iron ore, 459.2 million tons of coal, 99,290 tons of tin, 607,100 tons of nickel and 66.73 million tons of iron pyrite.
The overall goal of Zijin Mining Group is to become an international super large-scale high-tech highly efficient mining group. According to the mid/long-term strategic development plan, a “three-step development” strategy before 2020 has been confirmed:
Firstly, achieve a leading position in domestic gold industry (realized in 2005).
Secondly, achieve a leading position in domestic mining industry (realized in 2009).
Thirdly, strive to be in the advanced ranks in international mining industry in 2020. |
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