Zijin Mining made a net profit of more than 15.6 billion last year or formed 50, 000 lithium carbonate equivalent capacity in 2025.

On March 18, Zijin Mining (601899) released its annual report for 2021, saying that the company's operating target had achieved leapfrog growth, with operating income of 225.102 billion yuan, an increase of 31.25% over the same period last year, and net profit of 15.673 billion yuan, an increase of 140.8% over the same period last year. By the end of 2021, the company's total assets were 208.595 billion yuan, an increase of 14.42% over the same period last year (182.313 billion yuan in the same period last year).

It is understood that Zijin Mining is a large multinational mining group, mainly engaged in global copper, gold, zinc and other metal mineral resources and new energy mineral resources exploration, development and engineering technology application research.

According to the annual report, the mining products of Zijin owners achieved 584000 tons of mineral copper, 47.5 tons of mineral gold, 434000 tons of mineral zinc (lead), 309 tons of mineral silver and 4.25 million tons of iron concentrate, an increase of 29%, 17%, 15%, 3% and 10% respectively over the same period last year. Copper production capacity has increased significantly, making it one of the companies with the fastest growth and largest output of mineral copper in the world.

According to statistics, as of December 31, 2021, Zijin Mining has inferred, controlled and proven resources: 62.7705 million tons of copper, 2372.90 tons of gold, 10.8822 million tons of zinc (lead) and 11535.76 tons of silver. lithium resources (lithium carbonate) obtained by new mergers and acquisitions (lithium carbonate) 7.63 million tons (delivery completed in January 2022); The company maintains credible reserves and proven reserves: 20.3283 million tons of copper, 792.15 tons of gold, 5.2505 million tons of zinc (lead), 1630.31 tons of silver, and 1.6719 million tons of lithium (lithium carbonate) obtained by new mergers and acquisitions.

Battery network noted that the field of new energy and new materials is the strategic development direction of Zijin Mining to expand the incremental space. In 2021, the company completed the merger and acquisition of Argentina's world-class high-grade 3Q lithium salt lake project, while owning PE12453 and PE13427 green space exploration and exploitation projects on the periphery of the Manono lithium mine in the Democratic Republic of the Congo.

Zijin Mining has further played an important role in the Research Institute of New Energy Materials, accelerating the projects of lithium iron phosphate, electrolytic copper foil and high-performance alloy materials, and making gratifying progress in the industrialization of ammonia-hydrogen energy in cooperation with Fuzhou University.

Zijin Mining proposed that in 2022, the company will face the global allocation of resources, seek opportunities for mergers and acquisitions of great strategic significance, pay attention to copper, gold and other scarce minerals and zinc and other high potential minerals, and increase the acquisition of new energy mineral resources such as lithium, cobalt and nickel. We will increase investment in ore prospecting, green land and primary exploration, open a new round of ore prospecting in Zijinshan and other key mines, and strive for new breakthroughs. Pay attention to the recovery and utilization of mineral resources in huge "urban mines" and expand new ways to obtain resources.

In January 2022, Zijin Mining won the Argentine 3Q Lithium Salt Lake project. The first phase is designed to produce 20,000 tons of battery-grade lithium carbonate, which is expected to be completed and put into production by the end of 2023. In January, the company established Katamba Mining as a joint venture with the Democratic Republic of the Congo (DRC) National Mining Development Company to launch the first hard rock lithium ore exploration project. By 2025, the company is expected to form an annual production capacity of 50, 000 tons of lithium carbonate (LCE).

In addition, on the basis of 2022 output, after Zijin Mining's following key copper mine projects are completed and put into operation, it is expected to achieve or break through the announced copper production plans for 2025: Tongshan Copper Mine in Heilongjiang, Luobuling Copper (Molybdenum) Mine in Zijinshan, Fujian, JM Copper Mine in Boer, Serbia, and caving mining in four large underground porphyry deposits, including the lower zone of Chukalu-Peji copper and gold deposits in Serbia. It is expected to form an annual production capacity of more than 200000 tons of copper metal. The second phase of the Julong Copper Mine in Tibet is expected to increase its annual production capacity of 200000 tons of copper, while the second phase of the Camoa-Kakoula copper mine in the Democratic Republic of the Congo and part of the third phase of the project are expected to increase its annual production capacity of 120000 tons of copper.