Zijin Mining Approves RMB 8.4 Billion Zhuo Copper Mine Project in Tibet, Boosting Ownership to 53.591%

Published: Oct 21, 2024 08:56

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Zijin Mining Group announced that its board of directors approved the internal establishment of the mining and beneficiation project of Zhuno Copper Mine in Tibet, with a total investment of approximately RMB 8.393 billion. The project adopts an open-pit mining method, with a mining and beneficiation capacity of 18 million tons per year. Its main products are copper concentrate (including silver) and molybdenum concentrate. The project is scheduled to be completed and put into operation by the end of June 2026, with a production service life of 26 years. After reaching full production capacity, the project will produce approximately 76,000 tons of copper, 19.7 tons of silver, and 1,188 tons of molybdenum annually. At present, the project has obtained multiple pre-commencement core procedures. The company's wholly-owned subsidiary, Tibet Zijin Industrial Co., Ltd., has completed the acquisition of a 5% equity stake in the project company, increasing the company's actual interest in the project company from 48.591% to 53.591%.

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