Home  >  News
learn more

S&P raises Zijin Mining’s credit rating to "BBB-"

Zijin News - On 8 April 2022, S&P Global Ratings (“S&P”), an international credit rating company, released an updated credit rating report of Zijin Mining, raising its long-term issuer credit rating of the company from “BB+” to “BBB-”, with a stable outlook.

S&P said Zijin Mining’s business position has been strengthening through scale expansion, and that the company is on track to achieve its 2025 production targets

The credit rating agency noted that Zijin Mining has demonstrated strong project execution and maintains competitive cost positions on projects such as the Čukaru Peki Copper and Gold Mine, the Bor Copper Mine in Serbia, the Kamoa-Kakula Copper Mine in the Democratic Republic of the Congo and Julong Copper Mine in Tibet, which provides good visibility of growth over the next two years.

S&P stated that other than its core business in copper, gold, and zinc, Zijin has expanded to battery metals, including lithium and cobalt, through acquisitions. Diversified product offerings and geographic presence around the world support Zijin's business strength. Meanwhile, driven by higher sales volume of mined copper and gold, and robust prices, strong operating cash flow will be generated, which can support company’s higher capital expenditure and keep its the debt-to-EBITDA ratio below 3x in the next two years.