Securities code: 601899 securities abbreviation: Zijin Mining Group Company Limited(601899) No.: pro 2021-079 Zijin Mining Group Company Limited(601899)
Announcement on the completion and operation of Tibet Julong copper phase I Project
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Zijin Mining Group Company Limited(601899) (hereinafter referred to as the “company” or ” Zijin Mining Group Company Limited(601899) “) acquired 50.1% equity of Tibet Julong Copper Co., Ltd. (hereinafter referred to as “Julong copper”) in June 2020 and led the project operation. As the largest copper mine project under construction in China’s high-altitude areas, since July 2020 Zijin Mining Group Company Limited(601899) Since entering and returning to work, with the strong support of the local Party committee and government, Julong copper has actively solved the problems left over by history, strengthened standardized operation, and improved the legal and compliant production procedures of the mine; At the same time, the project construction scheme was quickly optimized, the construction organization was scientifically arranged, great attention was paid to ecological construction and environmental protection, and the informatization, intelligence and automation level of the mining area was comprehensively improved. Through the joint efforts of many cooperative units, the beneficiation system of phase I project of Qulong copper mine was commissioned at the end of October 2021 and officially put into production on December 27, Successfully achieve the overall goal of completion and operation by the end of 2021. After the phase I project of Qulong copper mine is put into operation, coupled with the output of zhibula copper mine, Julong copper is expected to produce 120000-130000 tons of copper in 2022; After the first phase of the project is completed, the annual output of copper is about 160000 tons.
Julong copper owns the mineral rights of Qulong Copper Polymetallic Mine, rongmutola copper mine and zhibula Copper Polymetallic Mine in Tibet, with resource reserves of 10.72 million tons of copper and 570000 tons of associated molybdenum; Qulong Copper Mine and rongmucola copper mine are the same porphyry copper ore body. At present, they are applying for the merger of mining rights; After the merger, the mine name will be renamed Julong copper mine, which is the largest world-class porphyry copper mine in China. There are a large number of low-grade copper resources with a grade of about 0.2%, and the total amount of resources (according to the boundary grade of 0.15%) exceeds 20 million tons.
At present, Julong copper is making an overall plan for mine development, focusing on the comprehensive development and utilization of low-grade resources. It plans to implement phase II and phase III projects in stages. If the project is approved by relevant government departments, it is expected to achieve an annual ore mining scale of about 200 million tons, becoming the largest copper mine in the world.
The completion and operation of Julong copper phase I project is the result of the project team carrying forward the old Tibetan spirit and Zijin Mining Group Company Limited(601899) “hard work, pioneering and innovative” spirit, which will play a positive role in improving China’s scarce copper resource supply capacity. Julong copper will fully practice the concept of green development and common development, play an active role in promoting ecological construction, environmental protection, national unity, employment and talent training, and drive the social and economic development of the project site. The commissioning of Julong copper phase I project will have an important impact on the increment of the company’s mineral copper, further improve the company’s profitability and provide strong support for the company’s leapfrog growth.
Zijin Mining Group Company Limited(601899) board of directors
December 27, 2001
