Chinese mining leader Zijin Mining Group (OTCPK: ZIJMF) announced an upward revision of its copper production targets for 2025 in response to soaring copper prices.
The company now aims to produce 1.22 million tons of copper next year, a 4% increase over its previous goal. This adjustment comes as Zijin positions itself to capitalize on the metal's price surge, which has reached historic highs due to anticipated supply shortages.
According to Bloomberg's report, the state-owned miner has ambitious plans to significantly boost its copper output by 2028. It targets production levels between 1.5 and 1.6 million tons, representing a 50% increase from its 2023 figures. This substantial increase will be driven by enhanced capacity at key projects, including the Julong copper project in Tibet, which is expected to become one of the world's largest copper mines.
The company also intends to acquire large mines or mining companies with global influence, although such opportunities are rare and difficult to close. BHP's ongoing attempt to acquire Anglo American is one such example.
Zijin's strategy aligns with current market dynamics where copper prices are near record highs. This surge is attributed to aging mines struggling to meet the growing demand driven by the global transition to green energy.
The market has experienced significant tightening due to disruptions, such as the forced shutdown of First Quantum Minerals' Cobre Panama mine and production cuts by Anglo American, which operates some of the largest copper mines in South America. While the Cobre Panama mine fits the description of interesting assets, it would be a complex issue owing to environmental concerns and a subject to negotiations with the new administration.
Following the expansionary plans, Zijin's subsidiary Jinteng Mining has reached an agreement with Pan American Silver Corp (NYSE:PAAS) to acquire two mining projects in Peru for approximately $290 million. This acquisition includes the La Arena Gold Mine and the La Arena II Phase II project.
While copper remained the current focus, Zijin was adjusting its production targets for other metals. The company reduced its lithium carbonate production target for 2025 due to a recent price slump. However, Zijin maintained a bullish outlook for gold production, aiming to reach 85 tons in 2025 and 100-110 tons by 2028.
中国矿业领导者紫金矿业集团（OTCPK：ZIJMF）宣布向上修订其2025年的铜产量目标，以应对铜价的飙升。
该公司现在的目标是明年生产122万吨铜，比之前的目标增长4％。此次调整是在紫金准备利用这种金属的价格飙升之际进行的，由于预期的供应短缺，价格飙升已达到历史新高。
根据彭博社的报道，这家国有矿业公司制定了雄心勃勃的计划，计划到2028年大幅提高其铜产量。它的目标产量在150万至160万吨之间，比2023年的数字增长50％。这一大幅增长将由包括西藏聚龙铜矿项目在内的关键项目产能的增强所推动，该项目有望成为世界上最大的铜矿之一。
该公司还打算收购具有全球影响力的大型矿山或矿业公司，尽管这种机会很少见且难以抓住。必和必拓持续试图收购英美资源集团就是这样一个例子。
紫金的策略符合当前铜价接近历史新高的市场动态。这种激增归因于老化的矿山难以满足全球向绿色能源过渡推动的不断增长的需求。
由于中断，例如First Quantum Minerals的科布雷巴拿马矿被迫关闭，以及经营南美一些最大铜矿的英美资源集团减产，市场经历了大幅紧缩。尽管巴拿马科布雷矿符合相关资产的描述，但由于环境问题，这将是一个复杂的问题，需要与新政府进行谈判。
根据扩张计划，紫金的子公司金腾矿业已与泛美白银公司（纽约证券交易所代码：PAAS）达成协议，以约2.9亿美元的价格收购秘鲁的两个采矿项目。此次收购包括拉阿雷纳金矿和拉阿雷纳二期项目。
尽管铜仍然是当前的焦点，但紫金正在调整其他金属的产量目标。由于最近的价格暴跌，该公司下调了2025年的碳酸锂产量目标。但是，紫金对黄金产量保持看涨前景，目标是到2025年达到85吨，到2028年达到100-110吨。
