Copper asset in Zambia a true gold mine

Thanks to the BRI, large State-owned companies like China Minmetals Corp are heavily involved in overseas mining acquisitions, with private firms like JCHX having also become significant players in recent years.

MMG Ltd, a subsidiary of mining giant China Minmetals, finalized the acquisition of a large-scale copper mine in Botswana earlier this year. The new mine has copper reserves of over 6 million tons and mining rights covering an area of more than 4,000 square kilometers.

According to MMG, the acquisition is a critical move amid the company's resolve to improve its ability to ensure the supply of strategic resources and vigorously promote the increase of reserves and production.

The newly acquired copper mine was put into operation in June 2021, targeting an annual output of 60,000 tons of copper and 1.6 million ounces (45.36 tons) of silver. In addition, the long-life mine has both cost-competitive advantages and rich resource potential.

Peng Qiming, head of the China Mining Association, said in an interview that thanks to China's well-developed communications with economies participating in the BRI, many Chinese mineral companies are cooperating with leading global players to jointly develop mining resources overseas.