紫金矿业

Sustainability
Sustainability

We integrate governance with corporate management closely, keeping our focus on critical issues such as the environment, ecology, water resources, labor, human rights, safety, community, business ethics, anti-corruption, responsible supply chain, and corporate governance throughout the mining development process to achieve a virtuous cycle with environmental, social, and corporate benefits.

Chen Jinghe
Chairman and Chief Officer of the Strategic and Sustainable Development (ESG) Committee, Zijin Mining
Culture and Value
Green, High-tech, Leading Global Mining Company
—— Providing the Materials that Improve Standards of Living in a Low-Carbon Future
  • Purpose
    Mining for a Better Society
  • Value
    Statement
    Value Creation and Development for All
  • Organizational Strength
  • Driving Force
  • Sustainability
  • Cohesion
  • Our Governance
    As a listed multinational, we must operate by regulatory requirements, local laws, and ethical standards. We treat compliance as a fundamental principle of our operations and study the culture and values of our host jurisdictions in depth with a commitment to maintaining our status as a principled and upright listed company.
  • Our Climate Transition
    The mining industry is crucial in humanity’s shift toward a low-carbon, clean society. We aim to facilitate our company’s low-carbon transformation by proactively reducing emissions and advancing our technologies. Additionally, by supplying ample clean metal raw materials, we hope to support the global transition to a low-carbon economy, actively addressing the worldwide challenges posed by climate change and fulfilling our responsibilities.
  • Our Planet
    Zijin Mining believes that proactive environmental measures can mitigate negative impacts on the environment and even enhance it. We are committed to increasing resource efficiency to reduce our extraction of natural resources and minimize emissions. Additionally, we continually plant vegetation to build healthy habitats, leaving a legacy of clear waters and blue skies for biodiversity and future generations.
  • Our People
    We practice a people-oriented development philosophy and strive to attract and retain talents with different cultural and academic backgrounds. We are committed to creating a diverse, fair, inclusive, and safe work environment with competitive remuneration and development paths. We aim to become a company that our employees can be proud of.
  • Our Society
    Zijin Mining always adheres to the purpose of Mining for a Better Society and shares our development fruits with all stakeholders. We aim to promote the economy of communities and build responsible supply chains. We commit to driving industrial development and benefiting society and stakeholders with our presence.
Path of Sustainable Development
  • 2023
    • Released the Outline of the Three-Year (2023-2025) Plan and Development Goals for 2030
    • Defined corporate mission as “Provide the materials that improve standards of living in a low-carbon future”
    • Completed the World Gold Council’s Responsible Gold Mining Principles (RGMPs) verification
    • Disclosed information per the International Financial Reporting Standards on Sustainable Disclosure (IFRS S1&S2)
  • 2022
    • Established ESG Office at headquarters
    • Committed to peaking carbon emissions in 2029 and achieving carbon neutrality in 2050
    • Published “Zijin Mining Climate Change Action Plan”
    • Acquired Fujian Longking Co., Ltd.
    • Established Zijin Mining Renewable Energy and Advanced Materials (Changsha) Co., Ltd. and Zijin Research Institute of Renewable Energy and Advanced Materials
    • Developed the first ammonia-hydrogen power station in China
  • 2021
    • Determined the Company’s short-term, medium-term, and long-term ESG development goals
    • Proposed the vision of becoming a “green, high-tech, leading global mining company”
    • Adopted the TCFD-recommended framework for information disclosure
  • 2020
    • The Board of Directors comprehensively strengthened ESG management, established the “Strategic and Sustainable Development (ESG) Committee”, and established the ESG Management Committee at the operational level
    • Linked Executive compensations to ESG performance
    • Joined the World Gold Council with a commitment to the Responsible Gold Mining Principles (RGMPs)
    • Participated in the launch of the Alliance of Chinese Business in Africa for Social Responsibilities
  • 2018
    • MSCI included the Company’s A-Shares in the emerging market index
    • Released the first ESG Report based on the original “Social Responsibility Report”
  • 2012
    • Invested RMB 200 million to launch the Zijin Mining Charity Foundation
  • 2010
    • Established a social responsibility work system benchmarked against ISO 26000
  • 2009
    • Established the Corporate Social Responsibility Department to promote the work of social responsibility
    • Released the first “Social Responsibility Report”
Sustainable Development Goals
  • Completed
  • In progress
  • Not met
Our Positioning
Goals
Performance in 2023
Status
A regular issuer with integrity
The percentage of female directors exceeds that of female employees
The ratio of female directors reached 15.4%
Ratio of independent and non-executive directors exceeds 50%
The ratio of independent and non-executive directors reached 53.8%
No major human rights violations
No major human rights violations identified
A booster for climate transition
Carbon peaking in 2029, carbon neutrality in 2050
Total greenhouse gas (GHG) emission was 8.41 million tonnes of carbon dioxide equivalent (tC02e)
By 2030, the proportion of renewable energy used will exceed 30%
Renewable energy accounted for 21.48%
By 2025, GHG emission per unit of industrial added value will be reduced by 20% compared to 2020
Carbon emissions were 1.53t CO2e/10,000 yuan of industrial added value, down 1.29% from the baseline year of 2022
Guardian of the Ecological Environment
With 2020 as the baseline year, all production and operation sites will have ISO14001:2015 certification by 2023.
ISO14001 certification coverage reached 97.5%
All mines will meet the green mine assessment standards by 2030
12 national-level “Green Mines” and two provincial-level “Green Mines”
All smelting and processing companies will meet the green plant assessment standards by 2030
Seven national-level “Green Plants” and six provincial-level “Green Plants”
Water re-use rate shall be maintained at a level of not less than 90%
Water re-use rate reached 94.8%
Water intensity shall be reduced by 10% by 2030 compared to 2020
Water intensity by revenue was 225.39 tonnes / RMB million, a decrease of 23.87% compared to 2020
100% restoration of recoverable land
100% of the recoverable land was restored, amounting to 6.22 million square meters throughout the year
All mines will formulate and implement Biodiversity Management Plans (BMPs) by 2030
Conducted comprehensive biodiversity risk screening for key operational sites within the Group in 2023
By 2030, the non-hazardous waste comprehensive utilization rate will have increased by 5% compared with 2020
Non-hazardous waste comprehensive utilization rate reached 14.88%, an increase of 15.26 % compared with 2020
By 2030, the emission intensity of sulfur dioxide and nitrogen oxides by revenue will be reduced by 5% compared with 2020
The emission intensity of sulfur dioxide by revenue was 0.46 tonne/RMB100 million, and that of nitrogen oxides by revenue was 0.23 tonne/RMB100 million
A big family trusted by employees
Zero fatality
One employee and ten contractors fatalities
Reduced number of accidents
The lost time injury rate per million hours worked (LTIR) was 0.25, and the total recordable incident rate per million hours worked (TRIR) was 0.91
With 2020 as the baseline year, all production and operation sites will have ISO45001:2018 certification by 2023
ISO45001:2018 certification coverage reached 97.5%
100% safety training coverage for employees and contractors
Safety training coverage of 100% for employees and contractors
All employees have received at least one career development training
100% of employees had received professional development training
Practitioners of development for all
Community investment of no less than 1% of the Company’s fiscal-year net profit
Community investment reached RMB 827 million, accounting for 2.64% of the Company’s fiscal year net profit.
By 2023, local procurement in the host countries will reach 70%
The local procurement rate in the host country was 80.33%
The local employment rate remains above 95%
The local employment rate was 95.85%
ESG Governance

The Company has established a top-down ESG management structure led by the Board and an ESG management committee at the management level, with the President of the Company as its director. The members of the Committee include the President, Vice Presidents, and other senior management who are highly professional and diverse and who are in charge of ESG topics such as safety, environmental protection, business ethics, community relations, supply chain, product quality, and labor relations. They effectively promote and implement the ESG strategic work formulated by the Board and its subordinate committees and improve ESG performance.

 

To further strengthen the effectiveness of ESG work, during the reporting period, the Company set up an ESG office at its headquarters, forming a network of overall ESG management with the ESG specialists of its subsidiaries. The professional departments of the headquarters and those of the subsidiaries have formed their professional network of ESG management. Relying on the working group networks, we effectively delegate the ESG strategic goals and promptly deliver policy requirements to all levels. We have also formed a dynamic and effective risk prevention and communication mechanism that leads to great ESG practice.

ESG Performance and Remuneration

The Company adheres to the principle that remuneration should be commensurate with the company’s international standing in the industry, aligned with performance and shareholder returns, appropriate to individual responsibilities, contributions, and performance, linked to the company’s market value and market performance, and connected to sustainable development and ESG indicators. This forms the foundation for the remuneration and assessment plans for directors, supervisors, and executives in the new term. ESG indicators, constituting no less than 20% of the assessment for annual incentive salaries, include key metrics and corresponding weights for environmental, safety, social, governance, significant ESG events, and ESG ratings. These indicators are subject to variable assessment coefficients during collective and individual evaluations.

Sustainability at independently operated joint ventures (JVs)

In joint ventures not under Zijin Mining’s operational control, we collaborate with our partners to enhance ESG governance, manage risks, and achieve objectives. We engage with these joint ventures through participation in their boards, committees, and shareholders’ meetings, contributing to the formulation of key ESG strategic decisions. This involvement allows us to influence the joint ventures’ management teams, ensuring that their operational and governance standards align with Zijin Mining’s sustainability principles.

ESG Risks

We enhanced and optimized our comprehensive Risk Management policies and mechanisms following the COSO Enterprise Risk Management (ERM) framework, defined our Risk Management objectives, integrated emerging stakeholders’ ESG concerns into the system, and further set out our key approaches, guidelines, processes, and responsibilities for ESG Risk Management. 

ESG Risk Governance and Risk Culture
The Company has established a holistic risk governance structure with the Board of Directors as the highest governance body for risk management. The Risk Management Committee reviews the Company’s overall risk management objectives and risk management strategies and plans. The role of the Company’s Supervision and Audit Office is to organize risk management work, carry out corresponding assessments and evaluations, and prepare relevant reports. The Company takes active measures to cultivate a risk culture, instills a correct risk philosophy, and endeavors to integrate risk awareness into its core values, employee performance appraisal, and daily behavior.
Risk Strategy and Objective
With “comprehensive, focused, dynamic and ongoing” risk management, the Company continuously ensures high-quality and sustainable development of the Group through active risk management activities.
ESG Risk Performance
The Company has established a systematic risk management mechanism that encompasses internal and external environmental information collection, risk identification, risk assessment, risk ranking, response response action reports, and continuous improvement based on its Risk Management Policy and Risk Management Operational Guidelines.
ESG Risk Review and Revision
The Company regularly summarises and analyses the effectiveness and reasonableness of its existing risk management strategies, with emphasis on evaluating whether the strategies implemented based on risk appetite, risk tolerance, and risk control warning lines are effective. The company continuously revises and improves the strategies based on the findings and the actual situation as needed.
ESG Risk Information, Communication and Reporting
The Company proactively collects information on the internal and external environment relevant to its business and management. It regularly monitors changes to such information to build and update its risk inventory.
Stakeholder Engagement and Materiality

Respecting stakeholders’ demands, we adhere to the principles of integrity, interaction, equality, and transparency. Constantly refining stakeholder participation mechanisms and communication methods allows us to better understand stakeholders’ expectations. This aids in defining the Company’s ESG strategy and material ESG issues, enabling stakeholders to participate effectively in the Company’s ESG governance.


During the reporting period, we, following stakeholder communication-related international standards and guidelines such as the GRI Standards 2021 version and AA1000 Stakeholder Engagement Standard (AA1000SES), regularly recorded, measured, and reviewed our communication with stakeholders. Based on stakeholder feedback, we promptly improved communication mechanisms and continually enhanced the efficacy and timeliness of our communication with all stakeholders.

Stakeholders
Concerns
Way of communication
Response and performance
Non-governmental Organizations: NGOs, Media, and Research and Education Institutions
  • Addressing climate change
  • Business ethics
  • Openness and transparency
  • Water resources management
  • Human rights protection
  • Biodiversity
  • ESG reports
  • The Company's official website
  • Industry conference
  • Completed the World Gold Council's RGMPs assurance
Surrounding Communities and Environment
  • Human rights protection
  • Community development
  • Climate change
  • Water resources management
  • Biodiversity
  • Emissions management
  • Community engagement
  • Mine open day
  • Community service center
  • Mining area project briefing
  • Project community announcement
  • Media interview
  • Each project promoted community meetings, community open days, government and media visits, and other activities, holding 816 community meetings in total.
Government and Regulatory Authorities
  • Compliance with laws and regulations
  • Paying tax according to law
  • Boosting economic development
  • Local employment
  • Stock exchange meetings
  • Government meetings
  • Information disclosure platform
  • Government visits
  • Participated in discussions on the International Financial Reporting Standards for sustainability disclosure (IFRS S1 & S2)
  • Four smelters established responsible supply chain systems and passed third-party certification to meet LME regulatory requirements
Business Partners
  • OHS
  • Business ethics
  • Openness and transparency
  • Contractor training
  • Supplier’s conferences
  • 1,523 new suppliers were screened using ESG criteria
Shareholders and Investors
  • Steady operation
  • Sustainable development
  • Good governance
  • Information transparency
  • Annual general meeting
  • Performance announcement conference
  • Financial performance
  • Information disclosure
  • Investor’s communication platform
  • Two general meetings of shareholders and five large-scale offline investor exchange activities
  • 52 ESG-themed special exchange sessions with investors and shareholders
Employees
  • Labor rights
  • Remuneration and benefits
  • OHS
  • Equal rights and development
  • Meeting of staff representatives
  • Conference and training
  • Bulletin board and the company’s intranet
  • Implement the employee stock ownership plan
ESG Awards and Ratings
ESG Awards
  • 12th China Charity Award
  • Attractive Employer for Global Graduates
  • China’s ESG Listed Companies Pioneer 100
  • Hong Kong ESG Report Award
  • Golden Bull Awards for Social Responsibility
  • 2023 Forbes China ESG Innovation Enterprises
  • Outstanding Responsible Enterprise of 2023
  • S&P Global Sustainability Yearbook Industry Mover
ESG Ratings
  • A , No.3 in the industry
  • CDP Global Environmental Disclosure
    Climate Change – C
    Water Resources – B
  • Hang Seng Corporate Sustainability Index
    Maintained A-
    Included in the Hang Seng (China A) Corporate Sustainability Benchmark Index for five consecutive years
  • MSCI ESG Rating
    B
  • S&P Global ESG Scores
    45
  • Morningstar Sustainalytics
    38.3 points