(TibetanReview.net, Feb24’24) – Zijin Mining Group, China’s biggest listed gold producer,has received local government approval for the second phase expansion of its Julong copper project in Tibet, reported Reuters Feb 23, citing the company in a filing with the Shanghai Stock Exchange. The clearance will make the site the largest single copper mine in the People’s Republic of China, the report said.
Chinese mines have long led to arrest of local Tibetans protesting over pollution, loss of livelihood and sacrilege while being prone to accidents while the local Chinese government claims to prioritize environmental considerations in clearing projects.
Zijin Mining had to stop production at one of its mines in Mozhugongka (Tibetan: Maldrogungkar) County, near Tibet’s capital Lhasa, in May 2023 after an accident left six people working for a subcontractor missing, it was reported by Reuters May 15. However, company was given clearance to resume production shortly afterwards without any clear information on the missing miners. The six miners appeared to have lost their lives as the company referred to them as fatalities, noted the kitco.com May 31.
Meanwhile, the expansion will raise the capacity of this mine by 200,000 metric tons per day to around 350,000 metric tons. Annual output will exceed 100 million tons, said the Reuters report Feb 23, citing the company.
The company has said the expansion will require investment of around 17.5 billion yuan ($2.43 billion) and enter operation in 2025.
This not only establishes the Julong mine as a giant within China but also as a formidable player on the global stage.
What is more, if the third phase of expansion is approved by local authorities, Julong could raise annual output to about 200 million tonnes, making it the largest single copper mine in the world, reported mining.com Feb 23, citing Zijin.
The strategic move by Zijin Mining Group and Zangge Mining to invest heavily in this project highlights the increasing importance of copper, a metal that is essential in various sectors, including the burgeoning electric vehicle industry and renewable energy projects, noted bnnbreaking.com Feb 23.
The Julong project is a joint venture between Zijin Mining Group and Shenzhen-listed Zangge Mining.