China Nonferrous Mining Co., Ltd. (stock code: 01258.HK) is the world's leading copper producer, focusing on vertically integrated businesses of copper mining, mineral processing, hydrosmelting, pyrometallurgical smelting and sales in Zambia. The controlling shareholder of the company is China Nonferrous Metal Mining Group Co., Ltd. (hereinafter referred to as "China Nonferrous Metals Group"). It is a large central (Chinese state-owned) enterprise directly under the State-owned Assets Supervision and Administration Commission (direct management). It is engaged in the development of non-ferrous metal mineral resources and construction projects in China and overseas. and related trade and technical services. It is also the overseas platform for China Nonferrous Metals Group to develop copper and cobalt resources.
The world's leading
Vertically integrated copper producer
We are a leading copper producer with abundant high-quality copper and cobalt reserves and resources in Zambia. We have a vertically integrated industrial chain covering copper product mining, mineral processing, hydrometallurgy, pyrometallurgy and sales. We are the only company with overseas copper smelters. Chinese enterprises.
Based on the comprehensive output of overseas copper products (including mined copper concentrate, blister copper and cathode copper) in 2010, it is the largest Chinese copper producer.
It was the first Chinese company to invest in Zambian copper assets since the privatization of the Zambian copper industry in the late 1990s. It has rich experience in overseas project development and mergers and acquisitions, and has close cooperation with the African business community and local governments.
The company has abundant resources, good operating conditions, has formed a stable financial foundation, rapid growth in operating performance, and huge potential for future development.
As of December 31, 2022, our JORC-compliant proven and probable ore reserves were 69.56 million tons and 24.82 million tons, respectively, with average copper grades of 1.87% and 2.02% copper, respectively. Our measured, indicated and inferred mineral resources were 62.2 Mt at an average grade of 1.48% copper, 156.7 Mt at an average grade of 1.69% copper and 210.4 Mt at an average grade of 1.75% copper, respectively. Our total contained metal reserves were approximately 2,379.8 kt of copper and 41.8 kt of cobalt. Our total contained metal resources were approximately 7,244.4 kt of copper and approximately 262.9 kt of cobalt.
CNMC Copper and Cobalt Resources Overseas Development Platform
Our controlling shareholder, China Nonferrous Metals Corporation, is a central enterprise directly managed by the State-owned Assets Supervision and Administration Commission. It is engaged in the development of non-ferrous metal mineral resources, construction projects and related trade and technical services in China and overseas. We are the overseas platform for China Nonferrous Metals Group to develop copper and cobalt resources.
After 13 years of hard work, we have developed into a leading vertically integrated copper producer
Based on China Nonferrous Mining’s existing advantages and the company’s long-term goals, we have formulated six major development strategies:
Copper and cobalt reserves and resources are the basis for the long-term growth of our business. We will be committed to further exploration and continue to expand existing mineral reserves and resources, so that we can provide stable mineral raw materials for pyrometallurgy and hydrometallurgy. In addition, we will continue to deepen our understanding of the copper and cobalt resources in the Democratic Republic of the Congo, carry out geological exploration work, develop its rich mineral resources, and achieve further business growth.
We will be committed to expanding the production capacity of Chambishi Copper Mine and Baruba China Mine. With the expansion of production scale, we will be able to increase the self-sufficiency rate of copper concentrate at the Qianbixi Copper Smelter and further strengthen the integration of our business.
To achieve economies of scale and effectively reduce unit production costs, we will strive to increase the total annual production of cathode copper to 34000 tons in 2012 and strive to increase it to 80000 tons by 2015. The Zambian government imposes quite high export tariffs on copper concentrates, coupled with Zambia's insufficient crude copper smelting capacity, resulting in significant growth opportunities for Zambia's pyrometallurgical industry. In order to seize this growth opportunity, we started construction of the expansion project of the Qianbixi Copper Smelter in 2010. It is expected that after completion in 2012, the annual production capacity of crude copper will reach 250000 tons.
We will continue to develop advanced technologies related to copper mining, beneficiation, hydrometallurgy, and pyrometallurgy, striving to expand production capacity, enrich product portfolio, reduce production costs, improve production efficiency, and enhance profitability. Considering our abundant cobalt reserves and resources, as well as the significant market value prospects of cobalt, we will continue to develop technologies for separating copper and cobalt from ores, including further research on methods for extracting cobalt from copper concentrates and slag. We believe that through improved recycling methods, we can increase resource value and production, and make our business more environmentally friendly.
To further increase the reserves and resource base of copper and cobalt, and expand our downstream production platforms, we will actively seek mining opportunities in Zambia and other African countries, as well as suitable acquisition opportunities for downstream copper and cobalt wet smelting and pyrometallurgical facilities.
We will further optimize the elite selection mechanism, attract outstanding management and technical talents in the industry, and further strengthen the employee team to meet the needs of business expansion.
CNMC Africa Mining Co., Ltd. is located in the Zambia-China Economic and Trade Cooperation Zone in Kalulusi City, Copperbelt Province, Zambia. Its main asset is the Chambishi Copper Mine.
The mine includes the main mine, the West Mine and the Southeast Mine, with resources containing 4.51 million tons of copper and 162,000 tons of cobalt. It is the first and largest non-ferrous metal mine built overseas by China and is known as the "Central-African Mine". A signature project of collaboration.”
At present, the company's mine production capacity has exceeded 4 million tons/year of mining and processing capacity, with an annual copper metal output of approximately 70,000 tons, and safe production continues to be stable. The company is working hard to build Africa's "digital benchmark mine" and actively introduce world-class equipment and mining technology to promote Zambia's mining level to the top of the world's mining industry, while making greater contributions to Zambia's economic, social and cultural development.
CNMC Luanshya Copper Co., Ltd. is located in Luanshya City, Zambia's Copperbelt Province. Its main assets include the Baruba Middle Mine, the Baruba East Mine, the Mulyashi North Mine and its supporting wet-process projects. It retains a large amount of geological resources. Containing 2.38 million tons of copper and 99,000 tons of cobalt, it has rich resource prospects.
Chambishi Copper Smelting Co., Ltd. is located in the Zambia-China Economic and Trade Cooperation Zone in Kalulusi City, Copperbelt Province, Zambia. Its main asset is the Chambishi Copper Smelting Plant. The plant is one of the three largest smelters in Zambia and China’s only large-scale pyrometallurgical copper smelter overseas. The annual production capacity of the first phase is 150,000 tons of blister copper and 400,000 tons of sulfuric acid; after the second phase expansion, the annual production capacity of blister copper (anode copper) will reach 250,000 tons, 600,000 tons of sulfuric acid, 17,500 tons of cobalt-copper alloy, and 300 tons of bismuth oxychloride. Ton.
Chambishi Hydrosmelting Co., Ltd. is located in the Zambia-China Economic and Trade Cooperation Zone in Kalulusi City, Copperbelt Province, Zambia. Its main assets include Chambishi Hydrosmelting Plant and Muwangbashi Project. It is expected to be 3-5 years in the future. In 2017, Chambishi wet process can control 500,000-700,000 tons of copper resource metal, which can support an annual production capacity of 30,000 tons of copper.
CNMC Mining Hong Kong Holdings Limited consists of CNMC Huaxin Hydrometallurgy Co., Ltd. and CNMC Huaxin Mabende Mining Co., Ltd. Its main products are copper cathode and cobalt hydroxide. The company currently has 65,000 tons of cathode copper and 300 tons of cobalt. Product production capacity. Huaxin Wet Process is the first copper smelting business enterprise invested and operated by China Nonferrous Metals Group in the Democratic Republic of the Congo. It has achieved a total profit of US$245 million since it was put into operation; Huaxin Mabende Company has achieved a total profit of US$420 million.
Lualaba Copper Smelting Co., Ltd. is the first large-scale modern pyrometallurgical smelting plant in the Democratic Republic of the Congo. It is jointly invested and constructed by CNMC and Chinalco. The LCS project started construction in March 2018, and the first phase of the project was completed in October 2019. and was successfully put into production.
The first phase of LCS can process 400,000 tons of copper concentrate per year and produce 120,000 tons of blister copper, 250,000 tons of sulfuric acid and 30,000 tons of liquid sulfur dioxide annually. After the first phase is put into production, LCS will start the second phase construction in due course to double the production capacity.
Gambov Mining Simple Co., Ltd. insists on developing copper and cobalt resources as its main business, adopts a progressive development strategy and the "1+N" model, and determines that "first develop the main ore body and build supporting wet processing plants; then develop the west ore body, build a supporting flotation plant; and finally develop the Mensesa ore body and expand the wet process plant."
According to the development plan, it is expected that by the end of 2025, the annual output of open-pit mining will be 1.4 million tons of ore, the annual output of underground mining will be 800,000 tons of ore, the annual output of cathode copper will be 35,000 tons, the copper concentrate will contain 20,000 tons of copper, and the cobalt hydroxide will contain cobalt. 2000 tons.
