https://www.miningweekly.com
Copper|Gold|Mining|Projects
Copper|Gold|Mining|Projects
copper|gold|mining|projects

China’s top copper miner to ramp up output as supply risks mount

17th May 2024

By: Bloomberg

  

Font size: - +

China’s leading copper miner raised its output guidance at a time when prices have been rallying toward a record on expected deficits.

Zijin Mining Group aims to boost mined copper production to 1.22-million tons in 2025, up 4% from a previous target, according to a filing to the Shanghai Stock Exchange late Thursday.

Output for 2028 would surge to between 1.5-and 1.6-million tons, it said, which would be up about 50% from 2023.

The Fujian-based company said it made the revisions given its positive fundamentals and the potential to increase capacity. Zijin will accelerate development of existing mines in Tibet, Congo and Serbia while also sourcing big mining projects globally, it added.

Global copper prices are near all-time highs as aging mines are predicted to struggle to keep pace with demand fueled by the world’s green transition. The market has tightened significantly this year following the sudden shutdown of First Quantum Minerals’ Cobre Panama mine and a cut to output guidance by Anglo American.

Zijin also revised down its lithium carbonate output to 100 000 t in 2025 from 120 000 t previously, in response to plunging prices, it said in a separate statement on WeChat.

Meanwhile, its mined output of gold will increase to 85 t in 2025 and to 100 t to 110 t in 2028, from 68 t in 2023, it said.

Edited by Bloomberg

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 21 June 2024
Magazine round up | 21 June 2024
21st June 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.35 0.383s - 93pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: