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Brief Introduction to Zijin
|Development Strategy


Leading in domestic gold industry1993--2000
In 1993, the construction of Zijinshan Gold Mine Phase I was completed with annual ore mining and mineral processing capacity of 50,000 tons. In the same year, it turned out 9.3 kilograms of gold. 

In 1997, listed for the first time among the domestic mines with annual output of over 10,000 taels of gold, Zijinshan Gold Mine produced 22,726 taels of gold, accounting for 64.1% of the total gold production of Fujian Province and ranking 25th on the name list of 92 domestic mines with annual output of over 10,000 taels of gold. 

In 1999, Zijinshan Gold Mine produced 2,968kg gold with its profits exceeding RMB 50 million Yuan. Its ore mining & mineral processing scales, unit cost of its infrastructure investment and unit processing cost of ore per ton all achieved the top ranking of China the same year. 

In 2000, Phase IV Technology-improved Project of Zijinshan Gold Mine was completed, open pit mining was fully carried out and major breakthrough was made in ore mining and mineral processing index. And it become a gold mine that boasts the largest utilizable and ensured reserves of monomer mines, the biggest scale of ore mining and mineral processing, the greatest in amount of gold production, the lowest beneficiation feed grade of ores, the lowest unit cost of ore processing and the best economic benefit in China. 


Leading in domestic mining industrysince 2001)

On 15 February 2001Xiamen Zijin Science & Technology Co., Ltd was established.  

On 6 March 2001
Fujian Zijin Mining Industry Co., Ltd won the bid of Unit I615 square kilometersand Unit IV308 square kilometersof Investment Invitation Projects for copper ore prospecting in East Tianshan of Xinjiang with prospecting rights of three years. 

The year 2001 saw the establishment of Guizhou Zijin Mining Industry Co., Ltd.  

In early 2002
Zijin succeeded in the acquisition of Xinjiang Ashele Copper Industry Co., Ltd.  

In January 2003Zijin reconstructured the state-owned Hunchun Gold-Copper Mine that was suffering heavy losses and at the brink of bankruptcy, resulting in the founding of Jilin Hunchun Zijin Mining Industry Co., Ltd.  

 

At the end of 2004, Bayannaoer Zijin Non-ferrous Metals Company Limited was registered and came into existence. 


By the end of 2006, the Group had established about 80 subsidiaries in more than 20 provinces across China including Fujian, Xinjiang, Guizhou, Inner Mongolia, Jilin, Qinghai, Tibet, Heilongjiang, Henan, etc. 


Ranking top in international mining industrysince 2005)

      
In 2005, it took part in the cooperative project of Mwetaung Nickel Ore Exploration of Burma. 

On 17 August 2005Zijin Mining Group Co., Ltd became the biggest shareholder with 21% shares of Pinnacle Mines Ltd of Canada by officially signing a contract with them. Canadian Foreign Minister Pierre Pettigrew himself attended the press conference, saying that "It's a historical event."

With the Equity Subscription Agreementit purchased 20% shares and 9.9% stock warrants of Ridge Mining, a listed company on the London Stock Exchange, to become its largest shareholder in 2006.

With the acquisition of 60% shares of Yunnan Zhongtao Company in 2006, it indirectly possessed the mining or prospecting right of lead-zinc ores in Tai-Pan, lead-zinc ores and iron ores in Ha Giang Province and Tuyen Quang Province of Vietnam.

By the way of shareholding and joint ventureit was assigned 70% of the shares owned by Shandong Yantai Tianhong Company in Nari Tolgoi Gold Mine of Mongolia and took the leading position in the construction and management of the Mine.  

By establishing the joint venture corporation Heilongjiang Zijin Mining Investment Company Limited with Heilongjiang Institute of Geological Sciences in 2006, joint investment was made in Kudonet Gold Mine and Lantarskaya Copper & Nickel Mine of Russia. Zijin Mining Group actually controlled a share proportion of 42.5% of the Kudonet Gold Mine and Lantarskaya Copper & Nickel Mine.

With the stock right transfer in 2006, it possessed 70% shares of New Siberia Longxing International Investment Company Limited of Russia and took the lead in the exploitation of poly-metallic ores in Kuzya-Tashtagol Zinc & Lead Project of Russia.

In April 2007Xiamen Zijin Tongguan Investment & Development Co., Ltd, which was established with the joint investment of the leading Zijin Mining Group together with Tongling Non-ferrous Metal Group Company and XIAMEN C&D INC., made successful acquisition of Monterrico of the United Kingdom by a general offer and indirectly acquired the prime assets of Monterrico in North Peru--the exploitation right of extra-large sized Rio Blanco Copper-molybdenum Ore Deposits.




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