Started from Zijinshan Gold Mine in 1993, Zijin Mining Group Co. Ltd. has developed an extensive product portfolio of gold as its primary focus, copper, lead and zinc, tungsten, iron and other base metals in the past 20 years. Zijin has become a large state holding mining group specializing in gold and metalliferous resource exploration and development with subsidiaries in more than 20 provinces, municipalities, autonomous regions across China and in 7 foreign countries. Listed in Shanghai Stock Exchange and Hong Kong Stock Exchange, Zijin ranked 241 in Top 500 Chinese Enterprises in 2012, 880 in Forbes Global 2000 and 25 in Global Mining Companies in 2013 respectively.
Its predecessor was Shanghang Mineral Company, a state owned entity established in 1986. In August 1993, Shanghang Mineral Company reshuffled into Shanghang Zijin Mining Company when it dived into developing Zijinshan gold deposit in Shanghang County. In October 1994 it changed its name to Fujian Minxi Zijin Mining Group Co. Ltd. Initiated by Minxi Xinghang Industrial Co. Ltd. and other 7 parties including Xinhuadu Industrial Group Co. Ltd., Fujian Zijin Mining Co. Ltd. was incorporated in September 2000. It changed its name first into Fujian Zijin Mining Group Co. Ltd. in April 2004 and then into Zijin Mining Group Co. Ltd. in June 2004.
Ziijin Mining went public in Hong Kong (code: 2899) in December 2003 and then got listed in Shanghai (code: 601899) in April 2008. Its core asset Zijinshan Gold/Copper Mine was rated as China’s largest Gold Mine by China Gold Association in March 2008.
In 2012, the sales revenue of the Group was 48.473 billion yuan, a year-on-year increase of 21.9%; total profit stood at 8.564 billion yuan, a year-on-year decrease of 7.67%; net profit attributable to the parent company was 5.197 billion yuan, down by 9.02% compared with 2011. By the end of 2012, the total asset was 67.772 billion yuan, a year-on-year increase of 29.53%.
Zijin Mining has always been the leader in terms of geological prospecting, low grade resource exploitation, and hydrometallurgy. It is approved to build the National Key Laboratory, the Post Doctoral Research Center, and National Technology Center etc. Zijinshan Gold/Copper Mine is listed as one of China’s first demonstration bases for comprehensive use of mineral resources and the Malipo tungsten mine is awarded as the National Example for Mineral Resources Consolidation by Ministry of Land and Resources. Zijin Mining College, co-established by the Group and Fuzhou University, is also worth mentioning as it has effectively filled the shortage of mining professionals.
Zijin Mining always upholds its banner of “Life comes first and Environment stays as the priority” for it sees safety and environmental protection as the lifeblood for survival and development. Both Zijinshan Gold/Copper Mine and the newly constructed Ashele Copper Mine are rated as National Industrial Tourism Demonstration Sites and the former is listed as one of China’s first National Mine Parks.
Zijin keeps applying its corporate value “harmony begets wealth; company, its employees, and the society should develop in a coordinated way" to practice and fulfilling its social responsibilities. It has received “China Charity Award” for three times as well as “National May First Labor Award” and “Excellent Employer Award for Harmonious Labor Relations”. According to preliminary statistics, since 2000, the Group has donated 1.7 billion yuan in total among which 179 million yuan was given out in 2012. Zijin Mining Charity Fund, created by the Group with 200 million yuan, has already been approved by Ministry of Civil Affairs. The primary goal of Zijin Mining is to evolve into an international mining giant featured by high-tech, efficiency, and profitability; hence the adoption of “Three-Step Strategy”, which is, first to be one of China’s top gold miners (realized in 2005), second to be a leader in domestic mining industry (achieved in 2009), and third to join the first class of global mining giants by 2020.