Zijin Mining


'''Zijin Mining Group Company Limited is a multi-national mining company headquartered in mainland China.

Background and activities

Zijin is a Shanghai Stock Exchange and Hong Kong Stock Exchange listed mining company principally engaged in the prospecting, exploration, and mining of gold, copper, and other mineral resources with operations in 11 countries. Its largest shareholder Shanghang Minxi Xinghang State-Owned Property Investment Company, which holds 24% of Zijin, is owned by government of Shanghang County, Fujian Province where Zijin’s head office is located. Zijin is one of the largest gold, copper and Zinc producers in China.
In 2006, Zijin had 49.28 tons of the gold output and the gold produced from mining reached 20.70 tons, respectively accounting for 20.53% of China's total gold production and 11.51% of the gold produced from mining in China in the same year. In 2010 gold output had reached 69 tons but was expected to be only 37 tons in 2018, slightly less than the previous year.
In December 2019, Reuters reported that Zijin had agreed to buy Canadian miner Continental Gold Inc. for C$1.3 billion. The company claimed that Continental's principal asset, the Buritica project, had gold reserves of 165.47 tons and an inferred reserve of 187.24 tons.

Incidents

Major acid spill

On July 3 and July 16, 2010 acid waste escaped the Fujian province copper plant and into the Ting River. The accident was said to be the size of the BP deepwater oil spill. The copper plant manager, deputy manager and head of environment were detained because the company waited nine days before revealing the incident.

Fatalities at dam collapse

In September 2010, four people were killed when a dam collapsed at the Xinyi Yinyan tin mine, following heavy rain. The dam collapse was said to be caused by rainfall generated by a typhoon occurring only once in more than 200 years.