Chinese Mining Giant Opens Gold, Copper Fund to Hong Kong Investors

Chinese mining conglomerate Zijin Mining Group opened its gold and copper investment fund to professional investors in Hong Kong this week, expanding access to a fund previously limited to company insiders.

Gold Mountain Asset Management, Zijin’s overseas subsidiary, launched the fund to external investors Wednesday after operating exclusively for internal companies and employees. The move comes as the $63 billion mining giant seeks to capitalize on bullish commodity outlooks.

The fund targets significant gains in both copper and gold. Portfolio Manager Lisa Liu Sha projects gold could reach $4,000 per ounce in 2025, representing 24% upside from current levels around $3,223. Goldman Sachs forecasts copper hitting $15,000 per tonne by mid-2025.

Zijin brings substantial credentials to asset management, ranking as China’s largest copper producer and third-largest gold producer. The company produced 1.07 million tonnes of copper in 2023, according to its annual report.

Fund managers cite strong fundamentals supporting both metals. Gold has gained momentum amid macroeconomic uncertainty, rising 0.7% after Moody’s downgraded US debt ratings May 16. Copper demand faces support from energy transition projects requiring over 3 million additional tonnes annually by 2030, while electric vehicles need four times more copper than conventional cars.

Supply constraints add upward pressure. New copper mines now take over 15 years from discovery to production, while resource nationalism in major producing countries creates additional headwinds.

Also read: China Has Quietly Spent $57 Billion to Control the World’s Critical Minerals

Gold Mountain Asset Management, established in 2013, holds Securities and Futures Commission authorization for securities advisory and asset management activities. The firm specializes in mining-focused investments across primary and secondary markets.

Zijin shares have surged 347% over five years, supported by strategic global expansion. The company agreed to acquire Ghana’s Akyem Gold Mine from Newmont for up to $1 billion in 2024. China approved a $2.4 billion expansion of Zijin’s Julong Copper Mine in March, positioning it to become the world’s largest copper operation.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

America Uses More Copper Than It Makes | Simon Quick – Canadian Copper

Gold Bulls Run Faster Than New Mines?! | Thomas Mumford – Scottie Resources

Is This the Start of a New Gold Rush | Russell Ashton – Juggernaut Exploration

Recommended

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Altamira Gold Encounters Porphyritic Intrusive Rocks In Initial Scout Drilling At Regional Targets

Related News

Red Lake District: Home to High-Grade Gold Deposits and Great Bear Resources, a Gold Rush Catalyst

The Red Lake mining district in Northwestern Ontario is best known for its high-grade gold...

Sunday, July 12, 2020, 11:20:54 AM

Gold Falls Nearly 3% Following China’s Central Bank Failing To Add To Reserves In May

China’s central bank has stopped its buying spree of gold. The People’s Bank of China...

Friday, June 7, 2024, 09:55:52 AM

Emerita Releases Initial Sample Results From Iberia Belt West

Emerita Resources (TSXV: EMO) this morning released the initial results of its surface sampling program...

Monday, May 10, 2021, 08:14:03 AM

Eastern Europe Central Banks Lead Global Gold-Buying Spree

Eastern European central banks are ramping up gold purchases, with Poland leading global acquisitions as...

Saturday, November 30, 2024, 09:07:00 AM

IAMGOLD: Analysts Lower Price Targets Following Q4 Prelim Results

Yesterday, IAMGOLD Corp (TSX: IMG) released their preliminary operating results for the fourth quarter and...

Thursday, January 21, 2021, 11:53:00 AM