On August 29, 2025, JDC (JinDuiCheng) and Zijin Mining Group Co., Ltd. signed a "Letter of Intent," reaching a preliminary agreement to jointly develop the Shapigou Molybdenum Mine in Jinzhai, Anhui Province.
It is reported that both Zijin Mining and JDC are shareholders of Jinsha Molybdenum Industry, with Zijin Mining holding an 84% stake and JDC holding a 10% stake. Jinsha Molybdenum Industry holds the mining rights for the Shapigou Molybdenum Mine, with total molybdenum metal resources of 2.1 million tons (including reserves), an average grade of 0.187%, and proven molybdenum metal reserves of 1.1 million tons, with an average grade of 0.2%.
The cooperation details include: Zijin Mining plans to transfer a portion of its equity in Jinsha Molybdenum Industry to JDC at cost price. Specifically, Zijin Mining intends to transfer a 24% stake in Jinsha Molybdenum Industry to JDC. Following this transfer, Zijin Mining will hold a 60% stake in Jinsha Molybdenum Industry, while JDC will collectively hold a 34% stake. Both parties agree to jointly invest, through Jinsha Molybdenum Industry and JDC, in establishing a new smelting company (name to be determined) at the Shapigou Molybdenum Mine site, focusing on molybdenum metal smelting and deep processing. Jinsha Molybdenum Industry will hold a 49% direct stake in the smelting company, while JDC will hold a 51% stake. Subject to compliance with laws, fair market pricing principles, and each party's internal controls, Jinsha Molybdenum Industry will prioritize raw material supply to the smelting company under long-term strategic customer terms.
Zijin Mining, established in September 2000, has a registered capital of 2.633 billion yuan and operates in areas including mineral resource exploration, gold mining, gold smelting, copper mining, copper smelting, and more. In the first half of 2024, Zijin Mining reported revenue of 167.711 billion yuan, increased by 11.50% year-on-year; net profit attributable to shareholders was 23.292 billion yuan, increased by 54.41% year-on-year; non-recurring net profit was 21.624 billion yuan, increased by 40.12% year-on-year; basic earnings per share were 0.877 yuan; and by the end of the reporting period, total assets reached 439.743 billion yuan, increased by 10.88% year-on-year.
