Zijin Mining Group Co.,Ltd(the Group, the Company) is a large-scale state-owned mining group with the headquarters located in Shanghang County, Fujian Province, People’s Republic of China. It is the largest gold producer, second largest copper producer, and important zinc, tungsten and iron ore producer, as well as the enterprise with most maintenance of minerals resources in China. It ranked the 1128th in the list of 2010 Forbes top 2000 global enterprises and 268th in the list of 2011 top 500 Chinese enterprises.
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 and till the year of 2000 achieved its first historical leap by way of rolling development. In 2000, Zijin completed its stock system reform, starting a new leaps and bounds period of going out of Zijinshan to the whole China and facing the global market. In Dec 2003, Zijin Mining Group was listed in HongKong stock exchange（2899）, and was listed in Shanghai stock exchange market in Apr 2008. In March 2008, Zijinshan Gold and Copper Mine, the core project of the Group, was awarded with the title of “the largest gold mine in China” issued by China Gold Association.
With the continued, rapid and leapfrog development in the past 20 years, Zijin has formed its own products pattern with the main focus on gold as well as pursuing development of copper, lead, zinc, tungsten and iron ore, with its subsidiaries spreading in over 20 provinces nationwide and 8 countries overseas. In 2011, the Company produced 2,770,428 oz（86.17 tons）of gold, 88,000 tons of copper, 222,700 tons of zinc and 1.96 million tons of iron ore concentrate. The sales revenue reached USD 6.31billion (RMB 39.764 billion), the total profit amounted to USD 1.47 billion (RMB 9.276 billion) and net profit reached USD 906.7million (RMB 5.713 billion). By the end of 2011, the total asset of Zijin was USD8.30 billion (RMB 52.32 billion) including net asset of USD 3.97 billion (RMB 25.009 billion). According to the statistics from China Gold Association, the mined gold produced by Zijin in 2011 accounts for 9.48% of total amount of mined gold in China, the total profit accounts for 27.67% of total profit (including profit from non-gold production) achieved by gold enterprises in China, making Zijin become one of enterprises with best profit and largest amount of mined gold production in China for the 8th consecutive year.
By the end of 2011, the resource/reserve holding of Zijin Mining were as follows: 33,545,742 oz（1,043.39 tons）of gold, an increase of 39.09% over the previous year; 11.6129 million tons of copper, increased by 9.78%; 49,788,608 oz（1548.6 tons）of silver; 5.3973 million tons of zinc, up 23.15%; 10.6 million tons of lead, up 24.16%; 214 million tons of iron ore and 459 million tons of coal.
Zijin takes a leading position in geological prospecting, utilization of low-grade resources and hydrometallurgy. The national key lab, post-doctoral research station and national technological centre were approved to be established and put into use. Currently, Zijinshan Gold and Copper Mine has been listed in the first batch of national demonstration base for comprehensive utilization of mineral resources; Malipo tungsten Mine was awarded “the first batch of outstanding mines in resource integration in China ” given by Ministry of Land and Resource. In addition, the Zijin Mining College co-established by Zijin Mining Group and Fuzhou University plays a positive role in creating employment of mining talents.
Zijin always adheres to the concept of “life first and environmental protection the priority” and regards the safety and environmental protection as the most important and core elements for the existence and development of an enterprise. Zijinshan Gold and Copper Mine and newly-built Ashele Copper Mine are “National industry tour demonstration places ”, and Zijinshan Gold and Copper Mine is also listed in the first batch of “National Mining Park”
“Harmony creating wealth, coordinated development among enterprises, employees and society” are corporate values that Zijin follows from the beginning. Actively fulfilled its social responsibility, Zijin has obtained “China Charity Award” for three times. From 2000 to 2011, Zijin accumulatively donated approximately USD 238.06 million (RMB 1.5 billion) to various charity activities with amount increasing on a yearly basis. In 2011, the taxes paid by the Group amounted to USD 570.39 million (RMB 3.594 billion), and the donation reached USD 43.49 million (RMB 274 million).
The overall goal of Zijin Mining Group is to become an international super large-scale high-tech and 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.