A look at Zijin Mining, which made its name digging up gold, but is now hoping to catch up in the race to produce the minerals that power electric vehicles.
A Zijin Mining Group stand at an expo in Tianjin, China, October 22, 2014. Credit: Imaginechina via AP Images
The global transition to green energy has brought a resurgence of interest in the mining industry, amid spiking demand for strategic minerals. China’s Zijin Mining, one of the world’s largest mining corporations, stands to gain.
Having originally specialized in copper and gold, Zijin is expanding its reach into new metals, including lithium and molybdenum — key ingredients for renewables and electric cars.
Data: Company annual reports
Since October, it has announced three new acquisitions and expanded its stake in at least two mines. It also completed deals for three lithium assets earlier in 2022.
Some question whether this rate of expansion can last. In November, credit ratings agency Fitch downgraded Zijin from investment grade to junk over concern about the company’s debt-fuelled expansion.This week, The Wire looks at Zijin Mining: its emergence as one of China’s largest miners, its overseas investments, and the challenges it faces amid its expansio
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