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Julong Copper Mine Phase II Approved Zijin Mining Copper Plate Growth Pole New Article

Mar 26,2024

Julong Copper Mine in Tibet

On February 22, the Tibet Julong Copper Mine, one of the "troika" of Zijin Mining's mineral copper plate, ushered in a new node-the second phase of the reconstruction and expansion project was approved by the relevant departments. The project is expected to be completed and put into operation by the end of 2025. After the first and second phases of production, the total annual ore mining volume will exceed 0.1 billion tons, and the annual mineral copper will reach 30-350000 tons. It will become a large-scale domestic mining and large-scale global mining and production in this century. Single copper mine.

At that time, Zijin Mining will have two copper mines, Carmoa and Julong, among the top 10 in global production. This will significantly enhance the company's position in the copper industry and help the company better empower the global green and low-carbon circular economy.

In recent years, Zijin Mining has unswervingly adhered to the development of globalization, adhered to the domestic and international two-wheel drive, and improved the anti-risk ability of the industrial layout.

In 2020, Zijin Mining will enter the Julong Copper Mine in Tibet to develop this large porphyry copper mine in China. If the ore body is delineated with an equivalent copper grade of 0.2, the amount of copper metal in Julong Copper Mine is 26.11 million tons, associated with 1.78 million tons of molybdenum and 15000 tons of silver. According to the company's preliminary research, the amount of exposed copper metal is 20.11 million tons, with an average grade of 0.32, 1.31 million tons of associated molybdenum and 13100 tons of silver, and the stripping ratio is less than 1.

In the face of long-term shutdown, complicated problems left over by history, and the test of human will and management ability in the harsh environment of ice and snow, high cold, low pressure and low oxygen, Zijin team carried forward the old Tibetan spirit and the Zijin spirit of "hard work, pioneering and innovative". It took only 18 months to complete the project and put it into production, built this super large mine with high altitude in the world, and created a new benchmark and monument for plateau mines.

In 2023, Julong Copper Mine will have 154000 tons of copper. It is the top two mines in domestic copper production. It has made positive contributions to Tibet's acceleration of the establishment of an important national strategic resource reserve base and economic and social prosperity.

Chen Jinghe, chairman of Zijin Mining, said that Tibet has abundant copper and lithium reserves and is a potential area for domestic copper mine development. The company is comprehensively increasing investment in this region. In the future, Tibet will become the company's large domestic industrial base.

The opening of the second phase of Julong copper mine will undoubtedly be a key link to support the rise of the company's Tibet industrial base.

According to Zijin Mining's announcement, the second phase of the Julong Copper Mine's reconstruction and expansion project is open-pit mining, with an estimated total investment of nearly 17.5 billion yuan. However, Julong Copper has strong profitability. In 2023, it will achieve a revenue of 10.26 billion yuan and a net profit of 4.3 billion yuan. Through profit transfer and loans from financial institutions, Julong Copper can raise its own funds to solve this huge investment. In the future, Julong Copper Mine will further plan and implement the third phase of the project. If the project is approved by the relevant departments, it is expected to achieve an annual ore mining capacity of about 0.2 billion tons, becoming a single copper mine with a large mining scale in the world.

In addition to Julong Copper Mine, in 2023, the company's new acquisition of Tibet Juno Copper Mine, the new equity copper resources of 1.72 million tons, the future will form another 100000 tons of annual production capacity of copper mine. The reconstruction and expansion project of Yulong Copper Mine in Tibet, a domestic single copper mine with Zijin as the second shareholder, will also be completed and put into operation in 2023, and the output of mineral copper will be increased to 150000 tons.

With the continued production of Karmoa copper mine, Peggy copper and gold mine, Julong copper mine and other projects as ballast stone, Zijin Mining has become a large mining company with a large and fast growth in global copper production in recent years, contributing to the global green and low-carbon transformation. Key increments.

In 2023, Zijin Mining's mineral copper output climbed to 1.01 million tons, ranking fifth in the world, achieving a historic breakthrough. It is an enterprise that has broken the million tons of mineral copper in China, and has also achieved the coveted development goal of the non-ferrous metal industry for many years.

"On the basis of a higher base in 2023, we will continue to press ahead and plan to produce 1.11 million tons of mineral copper in 2024, up 10% from 2023." Chen Jinghe said that the company will speed up the completion and production of a number of important copper mine incremental projects, and strive to achieve a substantial increase in output in five years.

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Pay tribute to the workers... to "new" and create "new" value.

Pay tribute to the workers... to "new" and create "new" value.

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