According to Reuters, China’s leading mining giant Zijin Mining Group has announced a $1.87 billion deal to acquire a 24.8% stake in Zangge Mining, securing controlling rights in the Qinghai-based mining company. The deal, valued at 13.7 billion yuan, will bolster Zijin’s position in battery metals and strengthen its ownership of the Julong copper project in Tibet.
Zijin has been actively diversifying its portfolio in battery metals. It holds a controlling stake in Lakkor Resources, operates lithium assets such as the Lakkor Tso Lithium Salar mine in Tibet. Zijin has also rapidly grown through global acquisitions, including stakes in lithium projects and precious metal assets across Ghana, Suriname, Peru, and Côte d’Ivoire. These moves signify Zijin’s commitment to supporting the EV market, which relies heavily on battery-grade metals like copper and lithium.
While facing challenges such as delayed projects in Argentina and Tibet due to weak lithium prices and permitting issues, Zijin plans to commence production at its lithium exploration project in the Democratic Republic of Congo next year (Batteriesdaily: Jan,9). With its expansive portfolio and strategic acquisitions, Zijin Mining continues to solidify its role as a global leader in the battery and precious metals sectors, positioning itself to meet growing demand driven by the energy transition and EV adoption.
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