On January 29, Zijin Mining released an announcement on its Five-Year Plan (2+3) and 2030 Development Goals, setting the 2030 target of becoming a top global mining company, and an international mining giant powered by high technology and profitability.
Three Phases of Development as Set out in Our 5 to 10 Year Goals
Phase 1 (2021-2022): To deliver a quantum leap in the production of our major mineral products and key business indicators, and to significantly boost our economic strength and the size of our business.
Phase 2 (2023-2025): To continue developing our existing mineral resources, and to look into M&A opportunities with other medium-sized and large producers of gold and copper, in an effort to significantly increase the reserves and production of our key mineral products, and to bring our major business indicators and profits to new levels. This will, to a large extent, make us one of the top global metals and mining companies.
Phase 3 (2026-2030): By 2030, we want to become an international mining giant powered by high technology and profitability. Our main performance indicators will approach or reach the levels of other top mining companies in the world. We will rank among the top 3 to 5 globally, in terms of reserves and resources, production of key products, sales revenue, asset size and profits.
We have set fairly high growth targets for the production of our key products - 53 to 56 tonnes of mined gold, and 540,000 to 580,000 tonnes of mined copper in 2021; 67 to 72 tonnes of mined gold, and 800,000-850,000 tonnes of mined copper in 2022; 80 to 90 tonnes of mined gold, and 1,000,000 to 1,100,000 tonnes of mined copper in 2025. We expect significant growth in the coming years.
Zijin Mining Boasts a Solid Foundation for Leaping Growth.
In the past five years, Zijin Mining focused on three tasks - “reform, growth, and sustainable development”, achieving rapid growth in our major performance indicators. For the year 2020, our net profit attributable to owners of the parent company is estimated between RMB6.45 billion to RMB6.65 billion. Our total market cap rose from RMB75.9 billion in 2015 to RMB224.9 billion in 2020, up about 200%, putting us in the 12th place among global mining companies. The reserves and production of our strategic minerals, including gold and copper, have increased significantly. We now hold rights to over 2, 300 tonnes of gold, and 62,000,000 tonnes of copper. Our copper reserve is about half of that found within China. A number of world-class mines - the Buriticá Gold Mine in Colombia, the Kamoa-Kakula Mine in DR Congo, the Čukaru Peki Copper-gold Mine, the copper mines in Bor of Serbia, and the Qulong Copper Mine in Tibet - constitute a strong foundation for a quantum leap in the growth of our business.
Our global competitiveness has been enhanced. We are widely recognized as a top non-ferrous metals and gold company in China. With major overseas mining projects across 12 countries, we are taking proactive steps to develop an operations and management system that satisfies the needs of our fast-growing global business. We have developed systematic and proprietary mining technologies and engineering capabilities, which are driven by innovation. Hence, we are able to keep costs low in our investments and operations. Further, we have trained and hired a number of professional and international management teams and technical teams, which are highly loyal and responsible.
In 2020, our “Year of Project Construction”, despite the big challenges brought by the COVID-19 pandemic, we have achieved fruitful results, and managed to translate our advantages in resources into social and economic benefits. Last year, both the Heilongjiang Duobaoshan Copper Mine and the Kolwezi Copper-cobalt Mine in the DRC, reached an annual copper output of 100,000 tonnes. The Buriticá Gold Mine of Continental Gold and highly prospective mines at Guyana Gold Fields, began producing within the same year of merger and acquisition. The technical upgrade of Serbia Zijin Copper went ahead smoothly. Several world-class super-large copper and gold mines - the Kamoa Copper Mine, the Čukaru Peki Copper-gold Mine in Serbia, and the Julong Copper Mine in Tibet, have seen accelerated construction activities, and are going to start producing soon. Longnan Zijin resumed operation, after finishing its technical upgrade and expansion project. In addition, the technical upgrade projects of large gold mines held by Guizhou Zijin, Shanxi Zijin, Henan Kunyu, and Norton Gold Fields in Australia, have been progressing well.
Zijin Mining is committed to green and sustainable development. While growing our own business, we also place high emphasis on creating new, greater value for the society at large, our shareholders, investors, and other stakeholders. We have established an environmental, social and governance (ESG) system from top to bottom, on the basis of international standards. Our efforts in safety and environmental protection have been stepped up, with green and eco-friendly practices being further promoted. Through active steps in fulfilling our social responsibilities as a corporate citizen, our concept of common development has been widely recognized.