(Kitco News) - Zijin Mining, one of the world’s fastest-growing mining companies, is accelerating its global expansion with ambitious plans to boost copper, gold, and lithium production over the next five years.
The China-based miner, which has a market capitalization of approximately $60 billion, is targeting 1.5 million tons of copper and 3.2 million ounces of gold by 2028.
In an interview at the 2025 Prospectors & Developers Association of Canada (PDAC) conference, Shaoyang Shen, Deputy President of Zijin Mining, attributed the company’s success to a combination of aggressive acquisitions, technological advancements, and a commitment to sustainability.
“Our stated goal is to become a green, high-tech, leading global company,” Shen told Kitco Mining. “By 2030, more than 30% of our energy use will come from renewable sources.”
Expanding global footprint
Zijin has been actively investing in mining assets across Africa, the Americas, and Europe. The company recently acquired Newmont’s Akyem gold mine in Ghana for $1 billion as part of its broader strategy to expand its gold production.
“We are targeting producing 3.2 million ounces of gold by 2028, with an annual growth rate of 7 to 8%,” Shen said. He noted that while the company’s gold production is increasing, Zijin now generates more revenue from copper, reflecting shifting market dynamics.
The company has also been expanding its presence in the lithium sector, a key metal for the electric vehicle (EV) revolution. Shen confirmed that Zijin will begin producing 40,000 tons of lithium carbonate equivalent in 2025, positioning itself as a major supplier in the battery metals space.
Balancing industrial and precious metals
With operations in multiple jurisdictions, Zijin has strategically diversified its portfolio to navigate market volatility. “When you talk about industrial metals like copper and zinc, they are impacted by macroeconomic trends,” Shen explained. “Gold, on the other hand, serves as a safe-haven asset during economic uncertainty.”
Zijin’s dual focus on industrial and precious metals allows the company to remain resilient amid global economic fluctuations. “We have a relatively balanced and sustainable strategy in terms of our metals portfolio,” Shen said.
Geopolitical challenges and international cooperation
Zijin’s global ambitions come at a time of heightened geopolitical tensions. Despite challenges, Shen emphasized the importance of international collaboration in the mining sector.
“The mining industry really needs international cooperation,” he said. “Some countries have abundant resources but lack the capital or technological capability … Canada plays an important role … in setting mining standards and facilitating global transactions.”
Although Zijin is currently listed on the Shanghai and Hong Kong stock exchanges, Shen did not rule out the possibility of listing on international markets, such as Canada, the U.S., or London.
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