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Zijin Mining unit signs off-take deal on Kamoa-Kakula copper mine

June 10, 2021


Abstract : China's major gold producer Zijin Mining Group Company Limited (601899.SH; 2899.HK) announced on Thursday that its wholly-owned subsidiary, Gold Mountains (H.K.) International Mining Company Limited signed an off-take agreement on the Kamoa-Kakula copper mine.

copper mine.png

Photo provided by Zijin Mining shows a copper mine project launched by the company. 

BEIJING, June 10 (Xinhua) -- China's major gold producer Zijin Mining Group Company Limited (601899.SH; 2899.HK) announced on Thursday that its wholly-owned subsidiary, Gold Mountains (H.K.) International Mining Company Limited signed an off-take agreement on the Kamoa-Kakula copper mine.  

It is noted that the phase-1 Kamoa-Kakula copper mine with an annual mineral processing capacity of processing 3.8 million tonnes began producing copper concentrates on May 25, 2021.

Kamoa-Kakula copper mine project is owned by Kamoa Copper S.A., a joint investment among Zijin Mining Group, Ivanhoe Mines Ltd. of Canada and the government of the Democratic Republic of the Congo (DRC). 

Gold Mountains (H.K.) and CITIC Metal (HK) Limited each will buy 50-percent of the copper production from the recently-launched phase-1 Kamoa-Kakula mine in the DRC. 

The ultra-high-grade concentrates produced by Kamoa-Kakula copper mine project is expected to contain approximately 57-percent copper and very low levels of impurities. (Edited by Hu Pingchao with Xinhua Silk Road, hupingchao@xinhua.org)

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Keyword: copper Zijin Mining

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