Up nearly 30%! Zijin Mining plans to achieve a gold production target of 130 to 140 tons by 2028.

Up nearly 30%! Zijin Mining plans to achieve a gold production target of 130 to 140 tons by 2028.

Zijin Mining significantly raises its future gold production targets. Against the backdrop of continued high gold prices, the company plans to increase mined gold output to 130-140 tonnes within three years, raising targets by nearly 30% compared to previous plans. This adjustment highlights the company's confidence in market prospects and its strategic intent to accelerate gold production capacity release.

According to an announcement released by the company on February 9, the Zijin Mining Board approved the main mineral product output planning for 2026–2028, raising the 2028 mined gold target from the previously set 100–110 tonnes in 2024 to 130–140 tonnes. Meanwhile, targets for mined copper and silver remain unchanged at 1.5-1.6 million tonnes and 600–700 tonnes, respectively.

The raised output targets are based on the company's rapid performance growth. According to preliminary estimates, Zijin Mining’s operating revenue in 2025 will be about RMB 345 billion, an increase of about 28% compared to 2022; total profit about RMB 80 billion, up about 167%; net profit attributable to the parent about RMB 51–52 billion, up about 155%–160%.

After the news was released, Zijin Mining's share price rose 4.1% in a single day to HK$40.72.

The company stated in its announcement that it will "strengthen strategic mineral resource acquisition, focusing on gold and copper," deepening efforts in key regions in Western China domestically, while internationally prioritizing neighboring land-bordering countries and other friendly countries with stable markets and rule of law.

Gold, Lithium, Molybdenum Production Targets Raised

Zijin Mining's adjustment this time is significant. According to the announcement, the 2026 mined gold production target is 105 tonnes, a 17% increase over 2025’s 90 tonnes; by 2028, the average target in the range is 135 tonnes, 50% higher than 2025’s actual output and about 29% above the original planned target average of 105 tonnes.

For copper, the 2026 target is 1.2 million tonnes, 2028 target is 1.5–1.6 million tonnes, consistent with previous plans. Mined silver’s 2028 target is 600–700 tonnes, mined zinc/lead target is 400,000–450,000 tonnes, both unchanged.

Notably, the company has greatly increased its lithium production plans. The 2026 target for lithium carbonate equivalent is 120,000 tonnes, and the 2028 target is 270,000–320,000 tonnes, while the actual output in 2025 is only 25,000 tonnes, indicating that the lithium sector will become a key growth engine. The 2028 target for mined molybdenum is also raised to 25,000–35,000 tonnes from the original plan.

In the announcement, the company clearly stated that by 2028, copper and gold production will rank among the top three globally; and by 2035, some indicators will reach the world’s top position, to fully establish a "green, high-tech, world-class international mining group."

Strong Performance Underpins Expansion

The raised output targets are based on the company’s rapid performance growth. According to preliminary estimates, Zijin Mining’s operating revenue in 2025 will be about RMB 345 billion, up roughly 28% from 2022; total profit about RMB 80 billion, up 167%; net profit attributable to the parent about RMB 51–52 billion, up 155%–160%; operating net cash flow about RMB 73 billion, up 154%.

As for resource reserves, by 2025, the company’s consolidated copper resources total 108.84 million tonnes, up 16% from 2022; gold resources 4,537 tonnes, up 26%; silver resources 30,993 tonnes, up 29%. In 2025, the company’s mined copper output is 1.09 million tonnes and mined gold output is 90 tonnes, ranking fourth and fifth globally, respectively.

Capital market performance is also strong. In January 2026, the company’s market capitalization hit a record RMB 1.1 trillion, with the combined "Zijin system" (including three controlled listed companies) reaching a peak of RMB 1.8 trillion overall market value. The company ranked 251st in Forbes’ 2025 Global 2000 Listed Companies, fourth among global metal mining companies, and first among global gold companies.

In 2025, the company completed the acquisition of controlling interest in Zangge Mining and spun off Zijin Gold International for separate listing, further optimizing the "Zijin system" capital structure.

Focus on Three Main Segments: Gold, Copper, Lithium

To achieve its output targets, Zijin Mining has developed a detailed plan for releasing production capacity. In the gold segment, the company will rely on Zijin Gold International to stabilize and increase output from mature projects like Pogera Gold Mine (Papua New Guinea), Norton Gold Fields (Australia), Buriticá Gold Mine (Colombia), and Aurora Gold Mine (Guyana), accelerating output release at projects such as Rosebel Gold Mine (Suriname), Akim Gold Mine (Ghana), and Raigold Polymetallic Mine (Kazakhstan), while speeding up the commissioning of Shandong Offshore Gold Mine.

In copper, the company will accelerate output at its three major copper mine bases: expedite the completion and commissioning of phase II of Julong Copper Mine (Tibet), bring Juno Copper Mine and Xietongmen Copper-Gold Mine into production; accelerate resumption and phase III production at the Kamoa-Kakula Copper Mine (DRC); and advance development of the lower ore body at the Čukaru Peki Copper-Gold Mine (Serbia), as well as JM Copper Mine and Ma’ge Copper-Gold project.

The lithium segment is seen as a new growth engine. The company will expedite commissioning at the 3Q Salt Lake in Argentina, Lagoco Salt Lake in Tibet, and phase I of Xiangyuan Lithium Mine in Hunan, accelerate the commissioning of the Manono Lithium Mine (DRC), aiming to become one of the world’s largest lithium producers. Meanwhile, it will deeply empower Zangge Mining to rapidly unlock its lithium resource potential.

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