Zijin Mining completes USD 2.5 billion H-share refinancing

Zijin Mining announced that the company's $2.5 billion H-share refinancing for global investors has met all prerequisites and the issuance has been fully completed. Among them, the convertible corporate bonds of $2 billion will be listed and traded on the Hong Kong Stock Exchange on June 26. In addition, the company has implemented a new H-share placement of HK$3.9 billion (US$500 million). After the placement is completed, Zijin Mining will have an additional 250 million H shares. In the next five years, Zijin Mining is expected to become the world's largest lithium carbonate producer. It is expected that by 2025, the company will have a production capacity of 120,000 to 150,000 tons of lithium carbonate equivalent. The company plans to increase its copper production by at least 49% to 1.5-1.6 million tons, gold production by 47% to 100-110 tons, and lithium carbonate equivalent production to 250,000 to 300,000 tons by 2028 compared with 2023. If completed as planned, Zijin Mining's copper production will rank among the top three in the world, and its lithium carbonate equivalent production will also rank among the top in the world.