The Zhunuo Copper Mine is a rare undeveloped, ultra-large copper mine in China. Its shallow orebody, which is not completely closed off yet, is thick in the center and thin around the perimeter. There are many copper and polymetallic anomalies in its periphery, and important discoveries have been made in nearby exploration projects. Thus there is good potential for reserve growth through prospecting and exploration.

The project will be developed through open-pit mining. The design capacity of its mining and processing facilities is 24 million tonnes per annum. Excluding the mine construction period, the project is expected to have a mine life of 20 years, with an average copper output of 99,000 tonnes per annum after reaching nameplate capacity.

Zijin Mining will take leadership of the construction and operational phase for the project, employing its high-altitude open-pit mining technology that is intelligent, low-carbon, and eco-friendly, and its intelligent processing technology, to develop the mine. This will turn Zhunuo into a green and intelligent mine.

On August 21, 2023, Tibet Zijin Industrial Co., Ltd. (“Tibet Zijin”), a wholly-owned subsidiary of Zijin Mining, along with Tibet Zilong Mining Co., Ltd., a part-owned company of Zijin, as well as Tibet Shengyuan Mining Group Co., Ltd., Tibet Zangge Venture Capital Group Co., Ltd., and Tibet Xizhi Energy Mining Co., Ltd. jointly took in the equity restructuring of Tibet Zhonghui Industrial Co., Ltd. (“Zhonghui Industrial”). In the deal, Tibet Zijin paid a total of 1.646 billion RMB for an ultimate 48.591% interest in Zhonghui Industrial. After the restructuring, Tibet Zhonghui Industrial will hold the exploration license to the Zhunuo Copper Mine.