The Haiyu Gold Mine is the first seabed gold mine discovered in China. It is situated in the Sanshan Island-Cangshang Fracture Zone, a highly prospective metallogenic belt on the Jiaodong Peninsula along the Bohai Bay. The zone is renowned globally for extensive gold mining activity and is one of the most important gold production bases in China. Thanks to good metallogenic conditions, a number of ultra-large and large gold mines have been discovered in the region. The Haiyu Gold Mine has a thick, large orebody. With the orebody open at depth, it enjoys significant potential for further increase in reserves.

The designed throughput of the project is 12,000 tonnes per day. After the mine is fully developed and reaches its design capacity, its annual mined gold output will be about 15 to 20 tonnes, which is expected to make it the largest gold mine in China.

Zijin Mining acquired a 30% interest in the Haiyu Gold Mine in October 2022, and a 20% interest in Zhaojin Mining in November 2022. Zijin Mining ultimately holds a 44% interest in the Haiyu Gold Mine.