Add-on Acquisition • Metals/Mining

Zijin Mining Acquires Tibet Julong Copper Co.

On June 8, 2020, Zijin Mining acquired metals/mining company Tibet Julong Copper Co.

Acquisition Context
  • This is Zijin Mining’s 2nd transaction in the Metals/Mining sector.
  • This is Zijin Mining’s 1st transaction in China.

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M&A Deal Summary

Date June 8, 2020
Target Tibet Julong Copper Co.
Sector Metals/Mining
Buyer(s) Zijin Mining
Deal Type Add-on Acquisition

Target Company

Tibet Julong Copper Co.

Tibet, China
Tibet Julong Copper Co., Ltd. is an operator of the Qulong mine, one of China's biggest copper deposits, and the Zhibula mine. It mainly engages in prospecting, development, construction, production, and sales of the Qulong Copper and Polymetallic Mine in Maizhokunggar County, Lhasa City, Tibet. The mine is notable for many reasons not least that the mining takes place at 5,300 m plus, bringing major challenges for the workers and the equipment.
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Buyer Overview 1

Buyer

Zijin Mining

Longyan, China

Category Company
Founded 1986
Sector Metals/Mining
Employees55,690
Revenue 303.6B CNY (2024)
DESCRIPTION

Zijin Mining is a global mining company specializing in gold, copper, zinc and other mineral resource exploration and development. It manages an extensive portfolio, primarily consisting of gold, copper, zinc, and other metals through investments in China and overseas across nine countries. Zijin Mining was founded in 1996 and is based in Fujian, China.


Deal Context for Buyer #
Overall 2 of 3
Sector: Metals/Mining 2 of 3
Type: Add-on Acquisition 2 of 3
Country: China 1 of 1
Year: 2020 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-07 Nevsun Resources

Vancouver, British Columbia, Canada

Nevsun Resources Ltd. is a 1000% owner of the high-grade copper-gold Timok Upper Zone and 60.4% owner of the Timok Lower Zone in Serbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-15 Guyana Goldfields

Toronto, Ontario, Canada

Guyana Goldfields Inc. is a mid-tier gold producer primarily focused on the exploration, development, and operation of gold deposits in the Guiana Shield of South America. The Guiana Shield is in the northern part of the Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French Guyana, and northern Brazil. Guyana Goldfields was incorporated in 1994 and is headquartered in Toronto, Canada.

Buy CA$323M