Zijin Mining to Gain Control of Zangge

Zijin Mining

Strategic Expansion in Critical Minerals

In a strategic move that underscores its ambitions in the global minerals market, Zijin Mining Group, through its subsidiary Zijin International, is poised to become the controlling shareholder of Zangge Mining. This acquisition is set to reshape the landscape of the lithium and potash industries, where Zangge is a significant player.

Details of the Acquisition

Upon completion of the transaction, Zijin International will acquire a substantial 24.82% of Zangge’s shares from its two largest former shareholders. This deal complements the 0.18% stake already held by Zijin’s other subsidiary, Zijin Mining Investment, bringing Zijin's total ownership to 25%. This strategic acquisition will grant Zijin control over Zangge, enhancing its capabilities in key mineral sectors.

Future Outlook and Competitive Edge: This acquisition marks a significant milestone for Zijin in its quest to become a leader in lithium production, with a targeted capacity of 250,000-300,000 tonnes per year of lithium carbonate equivalent by 2028. The deal not only expands Zijin’s resource base but also strengthens its competitive position in the fast-growing electric vehicle (EV) market.