On June 26, Zijin Mining’s shareholders approved the spin-off and listing of the company’s subsidiary Zijin Gold International on the Hong Kong Stock Exchange and the framework for its 2025 Employee Stock Ownership Plan, among other proposals, at its shareholder meetings.
Held at its Xiamen Office, the company’s first Extraordinary General Meeting of 2025, and its second A-Share and H-Share General Meetings of 2025, were chaired by Chairman Chen Jinghe.
Amid elevated levels of global inflation and rising geopolitical risks, gold stands out as the ultimate safe-haven asset, with prices reaching historic highs. To expand the international reach of its gold business and establish a world-class listed gold miner, Zijin Mining plans to restructure and consolidate its overseas gold mines under Zijin Gold International, its majority-owned subsidiary, and list it on the Hong Kong Stock Exchange. This strategic move not only capitalizes on the favorable industry cycle but also offers investors a unique opportunity to benefit from the revaluation of gold assets.
Post-listing, Zijin Mining will retain a controlling interest in Zijin Gold International, with the subsidiary’s financials and operational performance reflected in the parent company’s consolidated financial statements. The spin-off will enable Zijin Gold International to operate as an independent financing platform, attracting resources from the capital market to drive investment in gold assets globally and seize industry opportunities. Furthermore, it will allow both Zijin Mining and Zijin Gold International to focus resources on their core businesses, accelerating growth and innovation while enhancing investment and financing capabilities and market competitiveness. The spin-off is also expected to strengthen Zijin Mining’s ability to operate sustainably and profitably.
Over the past five years, Zijin Mining has achieved rapid expansion through strategic acquisitions, underpinned by its acquisition acumen and extensive experience in complex deals. The company has also grown its resource base and operational efficiency by leveraging its industry-leading, independent exploration expertise and low-cost project development and ramp-up capabilities, as well as a leading ESG governance system.
By the end of 2024, Zijin Mining held 110 million tonnes of copper resources, ranking second globally, and 3,973 tonnes of gold resources, ranking fifth. In 2024, the company produced 1.07 million tonnes of mined copper (fourth globally) and 73 tonnes of mined gold (sixth globally).
Zijin Gold International will build on these strengths to deepen its focus on international markets, driving both resource growth and efficient development of overseas gold mines, advancing Zijin’s global expansion with a commitment to excellence.
Employee Stock Ownership Plan to Align Interests
Zijin Mining plans to launch its 2025 Employee Stock Ownership Plan (ESOP), which will be implemented with full protection of shareholder interests. The plan is designed to foster a robust mechanism for sharing risks and returns with employees and shareholders, enhance corporate governance, and attract and retain outstanding managers and core employees. During the general meetings, shareholders reviewed and passed a resolution authorizing the Board of Directors to administer matters related to the ESOP.
The meetings were attended in person by representatives of key shareholders; the company’s directors, supervisors, and senior executives; representatives of financial intermediaries; and small and mid-sized shareholders.
Translator: Li Yuanxing Reviser: Jian Editor-in-Chief: Fa Yuan