CHINA MINING Congress & Expo was held in Tianjin on 23~25th September. Mining entrepreneurs from all over the world gathered and discussed the development of International and domestic mining industry. Mr. Chen Jinghe, Chairman of Zijin Mining, stressed that globalization of mineral resources’ allocation is promoted by the economic globalization, Go Global is an inevitable choice for Chinese miners.
Chairman Chen pointed out that Chinese mining industry, unlike other industries developing steadily in China, is facing the severest situation. Last year, the net profit margin on both sales and net assets were negative. Based on the data released by National Statistics Bureau, Chinese mining industry's net profit margin decreased from 9.67% in 2014 to 3.68% in 2016, ranking the last among all industries above designated size.
Mr. Chen believed it's an irresistible trend for Chinese miners to go global when facing this situation. He said, 'Chinese miners have less experience than western miners in going global, so we must learn and conform with International standards and conventions, execute local countries’ laws and respect local customs. Compared with those advanced mining giants, Chinese miners should be more confident and innovative, fully playing our own strengths, and we believe Chinese miners are capable to make significant achievements and progress in mining industry.’
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).