Zijin Mining finalizes molybdenum mine acquisition, forms JV

Zijin Mining Group Company Limited has completed the acquisition of an 84% stake in Anhui Jinsha Molybdenum Industry Co., Ltd., effective August 28, 2025. Jinsha Molybdenum holds 100% interest in the Anhui Shapinggou molybdenum mine, which has total molybdenum metal resources of 2.1 million tonnes (including reserves), with an average grade of 0.187%, and molybdenum metal reserves of 1.1 million tonnes at an average grade of 0.2%. The mine is projected to produce approximately 22,100 tonnes of molybdenum annually after a 4.5-year construction period.

Following the acquisition, Zijin Mining will transfer a 24% stake in Jinsha Molybdenum to Shaanxi JDC Molybdenum Co., Ltd., resulting in Zijin Mining holding 60%, JDC Molybdenum 34%, and Jinzhai County Urban Development Investment Co., Ltd. 6%. Zijin Mining will lead the construction and operation of Jinsha Molybdenum.

Additionally, Zijin Mining and JDC Molybdenum plan to establish a joint venture for molybdenum smelting and deep processing at the mine site. JDC Molybdenum will hold a 51% stake in the new smelting company, leading its construction and operation, while Jinsha Molybdenum will hold the remaining 49%.