CHINESE company, Zijin Mining Group Company Limited is stepping up its efforts to expand its business outside China.

It has already invested in eight countries including the Democratic Republic of Congo in Africa for the Kamoa Copper project, and PNG through the Porgera gold mine.

Zijin Group chairman Jinghe Chen led a delegation to visit the Barrick (Niugini) Limited-operated Porgera gold mine from May 5 to 7.

Chen is also the chairman of the newly-formed six-member BNL board.

In Congo, Zijin bought 49.5 percent stake in Kamoa Holding Limited - a subsidiary company of Canada’s Ivanhoe Mines Ltd.   

At Porgera, the Zijin group holds 47.5 percent stake in BNL with the remaining 47.5 percent held by Barrick Gold Corporation, plus 95 percent stake in the Porgera Joint Venture.

The remaining 5 percent is held by the Mineral Resources Enga Ltd, made up of the Enga Provincial Government (2.5 percent) and the Porgera landowners (2.5 percent)

He said the Zijin Group was honoured to work with Barrick as one of the largest gold mining companies in the world.

He said Porgera was a starting point for the Group to learn how to do business in Papua New Guinea.

“We believe at Porgera we have the opportunity to just complement each other with our respective strengths,” he said. 

About Zijin Mining
Zijin Mining is a leading global metals and mining company and one of the world’s largest producers of gold, copper, and zinc. The company has more than 30 large-scale mining operations and projects across 19 countries on 5 continents. Leveraging strong in-house research, engineering, and development capabilities, Zijin maintains high operational efficiency and low costs in both acquisitions and operations. This enables the company to be an industry leader in value creation, underpinned by its philosophy of pursuing development for all and sustained by superior environmental, social, and governance performance. Zijin’s shares trade on the Hong Kong Stock Exchange (HKEX: 2899) and the Shanghai Stock Exchange (SSE: 601899).