Zijin Mining Sets Ambitious 50% Growth Target For Copper Production By 2028
Portfolio Pulse from Stjepan Kalinic
Zijin Mining Group (OTCPK: ZIJMF) has revised its copper production targets for 2025, aiming for a 4% increase to 1.22 million tons. The company plans to boost copper output by 50% by 2028, driven by key projects like the Julong copper project in Tibet. Zijin's subsidiary Jinteng Mining has agreed to acquire two mining projects in Peru from Pan American Silver Corp (NYSE:PAAS) for $290 million.
May 17, 2024 | 7:24 pm
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Pan American Silver Corp has agreed to sell two mining projects in Peru to Zijin Mining's subsidiary Jinteng Mining for $290 million.
The sale of two mining projects in Peru to Zijin Mining's subsidiary is likely to provide a short-term financial boost to Pan American Silver Corp.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Zijin Mining Group has revised its copper production targets for 2025 and aims to increase output by 50% by 2028. The company is also acquiring two mining projects in Peru.
The upward revision of copper production targets and the ambitious growth plans indicate a positive outlook for Zijin Mining. The acquisition of new projects in Peru further strengthens its position.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100