Chinese mining giant Zijin Mining Group Co. has expressed concerns about revising its strategy for acquiring assets abroad through mergers and acquisitions, citing a slowing global economy, rising geopolitical tensions, and increasing project costs. This cautionary stance was highlighted in a recent press release from the company.
China’s pivotal role in global mining supply chains, particularly for minerals essential to industries such as electric vehicles and military equipment, has prompted efforts by the U.S., the EU, and their allies to boost their own production capabilities. This trend poses challenges to Zijin Mining’s growth trajectory, as the company has historically expanded its operations by acquiring copper and gold mines in various countries, including Canada and Africa, and by increasing lithium production to strengthen its position in the battery market.
Despite these challenges, Zijin Mining remains committed to expanding its global market presence while reinforcing its resource base within China and allied nations. The company anticipates a continued shortage of copper in the medium to long term, driven by the global shift towards a “green economy,” advancements in artificial intelligence, and growing demand from developing economies.
Zijin Mining is a major Chinese mining and metallurgical company, with operations focused on the extraction of copper, gold, silver, zinc, lead, and lithium. In the first half of 2024, the company’s net profit surged by 46% to 15 billion yuan (approximately $2.1 billion), driven by higher commodity prices and effective cost management. The company is headquartered in Fujian, China. 
