Chinese company Zijin Mining has received approval for the second-phase expansion of the Julong copper project in Tibet.
The approval for expansion was given by the Tibet Autonomous Region Development and Reform Commission.
This expansion is set to increase the mine’s capacity from 200,000t per day to nearly 350,000t, positioning it as the largest single copper mine in China by mining and processing scale.
For this expansion, Zijin has announced an investment of 17.46bn yuan ($2.42bn), which will be self-financed by Julong Copper.
Upon completion of the construction, the mine is expected to commence production by the end of 2025.
The mine is expected to adopt an open-pit method and have a service life of 36 years.
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
The company said in a statement: “Upon completion of the construction completion and production commencement of the Julong Phase 2 Project, Julong Copper Mine will become the largest stand-alone copper mine in China.
“It will play an important role in further enhancing the production output of mine-produced copper in China, promoting the transformation of Tibet’s resource advantages into economic development advantages, and driving the economic and social development of Tibet.”
Going forward, Zijin has plans for a third phase of expansion for the Julong Copper Mine.
If approved by relevant authorities, the mine could potentially reach an ore mining and processing volume of around 200 million tonnes annually.
The move is expected to make Julong the largest stand-alone copper mine globally in terms of mining and processing scale.
In August 2023, Zijin reportedly planned an investment of 27.71bn yuan for the expansion of the Cukaru Peki copper and gold mine in eastern Serbia.
