en.Wedoany.com Reported - Progress of Julong Copper's Phase III Construction Draws Attention; Zangge Mining Says It Is Coordinated by Zijin Mining. Zangge Mining recently stated during an institutional survey that the Phase III project of its investee company, Tibet Julong Copper, is currently being led by Zijin Mining, with the specific construction timeline to be determined based on Zijin Mining's overall planning. As a minority shareholder, the company will continue to monitor project progress and fulfill information disclosure obligations in accordance with relevant regulations. Market focus is on the subsequent expansion plans of the Julong Copper Mine. As one of China's largest copper mines by domestic resources, the Julong Copper Mine has been steadily advancing its production capacity in recent years. In January 2026, the Phase II project of the Julong Copper Mine was officially completed and put into operation, adding a production capacity of 200,000 tons per day on top of the original 150,000 tons per day mining and processing scale, bringing the total scale to 350,000 tons per day. After reaching full production, the annual output of copper metal is expected to increase to 300,000 to 350,000 tons, with corresponding growth in molybdenum and silver output. Regarding the highly anticipated Phase III project, Zijin Mining previously disclosed that it is further planning and implementing the project. If approved by relevant authorities in the future, the final mining elevation will be further lowered, and the annual mining and processing capacity of ore is expected to increase to approximately 200 million tons. Based on planning estimates, the annual copper output after reaching full production is expected to reach about 600,000 tons, making the Julong Copper Mine one of the world's largest copper mines by mining and processing scale.

Resource endowment is a key foundation for the continuous expansion of the Julong Copper Mine. After completing a new round of resource filing in 2024, Julong Copper's cumulative identified copper metal resources reached 25.88 million tons, making it the copper mine with the largest filed resources in China. Additionally, the mining area also holds significant associated resources such as molybdenum and silver, providing ample resource support for future development. Zangge Mining holds a 30.78% stake in Julong Copper. In recent years, the company's main businesses include potash fertilizers, lithium carbonate, and mining investments, with investment income from Julong Copper becoming one of its important profit sources. As the Phase II capacity of the Julong Copper Mine is gradually released, the copper mining business is expected to further strengthen its support for the company's performance. From an industry perspective, the global energy transition, grid construction, and the development of the Automotive Industry" target="_blank">new energy vehicle industry continue to drive copper demand growth. Meanwhile, new supply from large global copper mines remains relatively limited, drawing widespread market attention to world-class copper mine projects with resource scale advantages and expansion potential. As an important copper resource base in China, the subsequent expansion progress of the Julong Copper Mine also serves as a key window for observing China's domestic copper resource security capabilities.