The Zhunuo Copper Mine is home to one of the largest undeveloped porphyry copper deposits in China. Its shallow orebody, with a thick center and thinner edges, is not completely closed off. The project has strong potential for resource growth through exploration in its surrounding areas.
Designed for open-pit mining, the project has commenced construction in compliance with applicable laws and regulations, with commissioning scheduled for 2026. Upon reaching nameplate capacity, it will have a mining and processing capacity of 18 million tonnes per annum, with an expected annual copper output of 76,000 tonnes.
In 2023, Tibet Zijin Mining Co., Ltd. (a wholly-owned subsidiary of Zijin Mining) and Tibet Zilong Mining Co., Ltd. (part-owned by Zijin Mining), completed an equity restructuring of Tibet Zhonghui Industrial Co., Ltd., with participation from Tibet Shengyuan Mining Group Co., Ltd., Tibet Zange Venture Capital Group Co., Ltd., and Tibet Xizhi Energy Mining Co., Ltd. The restructured entity was subsequently renamed Tibet Xianglong Mining Co., Ltd. In 2024, Tibet Zange Venture Capital Group transferred a 5% interest in Tibet Xianglong Mining to Tibet Zijin Mining, increasing Zijin Mining’s effective indirect interest in the project to 53.59%.