一元复始，万象更新，我们迎来了充满希望和挑战的2022年。我谨代表澳门赌场官网集团股份有限公司，向辛勤奋战在全球各地的紫金人及家属、广大协作者和社区人民致以诚挚的问候！向长期关心、支持和帮助澳门赌场官网发展的各国政府、投资者与社会各界朋友致以美好的新年祝福！

With a new beginning comes a fresh start. As the year of 2022 is ringing in, we see both hope and challenges lying ahead. On behalf of Zijin Mining Group, I wish a Happy New Year to all our stakeholders in China and around the world. I would also like to extend our sincere gratitude to our employees and their families, our investors, local communities and governments where we operate, for their devotion and support that have made us grow.

2021年初，澳门赌场官网确立了宏伟的《五年（2+3）规划和2030年发展目标纲要》，吹响了十年“三步走”达到全球超一流金属矿业公司的进军号角。面对百年未有之大变局和世纪疫情等多重挑战，公司沉着应对、坚定信心，坚持“深化改革、跨越增长、持续发展”工作总路线，实现了业绩增长、生产经营、重大项目建设的“超预期”，实现了首年开门红！

Zijin Mining unveiled its Five-Year (2+3) Plan and 2030 Development Goals at the start of 2021, aiming to become a top global metals and mining company with a three-phased approach in 10 years.

As an old Chinese saying goes, first victory is most auspicious. Zijin Mining secured a good start in 2021. Faced with momentous changes and a global pandemic unseen in a century, Zijin Mining followed the overarching principle of “deepening reform, leapfrog growth, sustainable development” in calmness and confidence, and achieved better-than-expected results in financial and operational performance as well as the construction of major projects.

过去的一年，是澳门赌场官网实现跨越增长之年！公司在极其困难的情况下，狠抓生产经营，抢抓金属市场良好上涨机遇，主营矿产品量价齐升，主要经济指标创历史新高，海外主要矿产资源量、产量及利润贡献全面超越国内。铜板块成为跨越增长的主要动力，呈现爆发式增长态势，迈入世界一流铜业公司行列。公司以创新为代表的全球矿业竞争力持续培厚，行业地位大幅提升，成为2021《福布斯》和《财富》世界双“500强”企业。

This past year is a year of leapfrog growth. Despite external difficulties, Zijin Mining has created new production records to maximize the sales and profits in a bullish metals market. Our overseas operations have contributed more than our domestic operations and our copper assets have become a main driver of our growth, turning us into a top player in the global copper market.   Self-driven innovation and strengthened competitiveness are key to our progress – Zijin Mining has been ranked by both Forbes and the Fortune magazine as one of world’s top 500 companies.

过去的一年，是澳门赌场官网实现可持续增长的奠基之年！一批重大“旗舰项目”建设捷报频传，“紫金力量”、“紫金速度”得到生动诠释。三大世界级铜矿项目刚果（金）卡莫阿-卡库拉铜矿一期、塞尔维亚佩吉铜金矿上部矿带、西藏巨龙铜矿一期全部建成投产；塞尔维亚紫金铜业MS矿新建年千万吨级技改项目投产。刚果（金）卡莫阿-卡库拉铜矿二期和塞尔维亚紫金铜业VK矿4万吨/天选厂建设迅速推进，均将在今年上半年投产；澳大利亚诺顿Binduli金矿、哥伦比亚武里蒂卡金矿、山西紫金、贵州紫金和塔吉克斯坦泽拉夫尚公司矿山及热压冶金项目等建设有序推进。“矿石流五环归一”矿业工程管理模式深入推广，并取得显著成效。

This past year is a year of a solid foundation for sustainable development. The construction of several “flagship projects” has made great headway, another testimony to the “Zijin Capability” and “Zijin Speed”. The three world-class copper projects - the Kamoa-Kakula copper mine Phase 1 in Democratic Republic of Congo, the Upper Zone of the Čukaru Peki copper-gold mine in Serbia, and the Julong copper mine Phase 1 in Tibet - have started commercial production. The expansion project of tens of millions tonnes per annum capacity at Serbia Zijin Copper’s Majdanpek mine has been completed and put into operation. And we expect to see the Kamoa-Kakula Phase 2 and 40Ktpd concentrator at the Veliki Krivelj mine to be commissioned in the first half of 2022. Other construction or expansion projects including the Binduli gold mine in Norton of Australia, the Buriticá gold mine in Columbia, Shanxi Zijin, Guizhou Zijin, JV Zeravshan in Tajikistan and its smelter project are also progressing steadily. Our “Five-in-One” mining and operational model has been applied to more mines with exciting feedbacks.

过去的一年，是澳门赌场官网改革与绿色发展夯实之年！公司全面推进以国际化为主要标准的“简洁、规范、高效”改革，全力建设以绿色可持续发展为重要特征的ESG治理体系，公司国际化运营管理体系建设初见成效，国际化人才队伍建设成果显著。绿色生态矿山建设持续提升，单位生产值的“能耗碳排”指标持续下降，低碳已成为公司建设和营运的指南。公司进军新能源和新材料领域，并优先在矿产原材料方面布局，实施50亿元的阿根廷世界级高品位3Q锂盐湖项目并购；成立新能源新材料研究院，推进与新能源矿产相关的产业延伸，加快项目落地工作；与福州大学等合作的氨-氢能源产业化全面启动；与矿山及企业相结合的光伏电站建设取得重要成果。

This past year is a year of deepening reform and pursing green ambitions. With a global perspective in mind, the Group initiated managerial reforms to build a streamlined, standardized, and more efficient organizational process. To install an overall ESG system has been regarded as top priority. Achievements have been made in the development of an international management and operation system and in building an internationally competent workforce.

Our mines are becoming greener and more eco-friendly, with power consumption and carbon emissions per unit of output dropping. Low carbon emission target is a top requirement for all of our constructions and operations.

The Group has decided to expand into the renewable energy and advanced materials industry starting from exploring the upstream mineral resources. We are about to complete the deal to acquire the 3Q project, a world-class, high grade lithium brine project in Argentina with RMB 5 billion. Our lithium iron phosphate project, electrodeposited copper foil project and high-performance alloys project are progressing rapidly. We have launched a project together with Fuzhou University to commercialize the ammonia-to-hydrogen energy solution. And we installed solar power generators at our mine sites and factories that turned out to be a brilliant idea.

过去的一年，是澳门赌场官网优秀企业文化的升华之年！疫情期间，一大批海外将士义无反顾逆行出征，一大批驻守将士长年坚守岗位默默奉献；西藏巨龙团队克服高原高寒、缺氧的极限挑战，仅用1年半时间就把停建的中国最大铜矿建成投产，铸就了最高海拔的“紫金速度和奇迹”。“艰苦创业、开拓创新”的紫金精神在“一带一路”上熠熠生辉，富有紫金特色的“共同发展”理念在海内外生根发芽，紫金锌业荣膺“全国脱贫攻坚先进集体”殊荣，多个海外项目获得所在国最高领导人及社区群众高度称赞，澳门赌场官网负责任大型跨国企业形象进一步提升。

This past year is a year of celebrating excellent corporate culture. Hundreds of employees braved the COVID-19 pandemic to fill overseas positions, and others dedicated themselves to their responsibilities for years without any complaints. Our team at Julong Copper overcame some extreme challenges including coldness and low oxygen levels so that the largest copper mine in China can be put into operation after an unbelievable one-year-and-a-half period of construction. This is a “Zijin miracle” performed at the highest altitude ever.

The motto of “working hard and breaking new ground” guides our work in every “Belt and Road” country that we operate in. Through a Zijin-specific approach to “common development”, we have benefited many in China and overseas. Zijin Zinc won the title of “National Outstanding Entity in Poverty Alleviation”, and many overseas projects were praised by local authorities and communities, enhancing Zijin Mining’s reputation as a responsible multinational company.

时间属于奋进者！历史属于奋斗者！

Time favors those who forge ahead. History will remember those with a striving spirit.

世纪疫情持续冲击，百年变局进一步演进，外部环境更趋复杂严峻。矿产作为工业和能源“粮食”，在国民经济的基础地位正在被重新认识。防止全球气候变暖和控制碳排放已经成为全球共识，中国政府的“双碳”承诺正在加速落地，新能源革命、电气化浪潮波涛汹涌，新兴产业和传统产业转型升级正加快推进，将成为巨大蓝海市场。铜资源战略性地位持续提升，需求将进一步增长；锂、钴、镍等战略性新能源金属需求增量空间强势打开；在货币泛滥的今天，黄金作为传统避险工具预期保持高位震荡。

With the pandemic raging, and major, evolving changes unseen in a century unfolding, the external environment becomes more challenging. To control global warming and to reduce GHG emissions have become global awareness while China is moving faster to fulfill its commitments of carbon peaking in 2030 and carbon neutrality in 2060. Energy transition and electrification have gained strong momentum, creating a Blue Ocean market with unlimited potentials. Copper as a critical mineral has been strategically repositioned and substantial demand upside is woven into the future together with other battery metals such as lithium, cobalt, and nickel. Gold is still considered to be a safe haven so it will stay in the high trading range as liquidity floods everywhere.

2022年，是澳门赌场官网十年发展第一阶段冲关之年。公司将继续坚持“深化改革、跨越增长、持续发展”工作总路线，持续提升全球竞争力，以优质矿物原料及新能源矿产助力全球经济发展和产业转型升级。

2022 will mark the first milestone in our endeavor to turn our ten-year development plan into reality. Zijin will stay committed to the general principle of “deepening reform, leapfrog growth, sustainable development” while enhancing its global competitiveness. We supply the world with high-quality mineral products and energy-transition metals for stronger economic growth as well as a sustainable future.

深化改革，初步建成全球化运营管理体系。

Deepen reform and establish a global operation and management system.

公司十年“三步走”建立具有紫金特色的“简洁、规范、高效”的全球化运营管理体系，第一阶段深化改革已经进入深水区，触动“硬骨头”势在必行，我们要走符合国际标准、又与企业实际相融合的“中间”道路，加快推进国际化制度体系建设，完善信息化流程，应用数字化和智能化为生产管理系统转型升级赋能，建设高适配的人力资源体系，激发组织活力。

Zijin is building a streamlined, standardized, and more efficient organizational process with a three-phased approach in 10 years. The first phase of deepening reform has entered “deep waters”, where the “hard nuts” must be cracked. To this end, we will find the “middle way” between international standards and our own business model. We will introduce international corporate policies and empower production teams with smarter and better digital tools. We will also develop a tailor-made talent pool to support our development and also to stimulate organizational vitality.

紧盯“双碳”政策催生能源结构的重大革命，主动对接产业发展方向，坚持绿色高质量可持续发展理念，加快推出紫金能耗和碳排双控目标。抛弃过去传统“矿业思维”，把握机遇，补齐短板，把新能源新材料金属矿产资源取得及开发作为优先事项，加快开创新产业的新能力，早日成为新能源新材料行业的佼佼者。通过改革全面提升“矿业+金融贸易”的融合能力，主动对接资本市场，把握利用国际、国内两个市场，争取实现重大项目、重大资源和重大产能并购的新突破。

A major shift in the energy mix is underway, driven by the policy of “carbon peaking and carbon neutrality”. We will follow the industry trends and set our own goals in controlling energy consumption and carbon emissions to realize green and sustainable development. We will change the traditional “mining mindset”, and seize market opportunities to acquire related mineral resources and diversify our business portfolio to become a leader in the renewable energy and advanced materials industry.

Reforms will be conducted to bolster our capabilities in integrating mining, finance and trading. We will work closely with capital markets to make breakthroughs in acquiring major projects, strategic resources and industrial capacities in China and overseas.

遵循国际标准与规范，构建具有紫金特色的ESG体系，提升环境与生态保护、职业健康与安全、人权保护、反腐败与监督、负责任供应链、社会责任贡献等关键绩效。在矿山水循环利用和管理及自动在线监测、生态恢复方面要成为全球标杆；坚持依法合规，完善和落实企业各项证照手续。加大生态建设力度，推进自然碳汇，积极开展“油”改“电”和电动化替代，持续在矿山布局太阳能光伏电站、风力发电或水力电站，加大对清洁绿色能源的投资，创建具有国际水准的绿色矿山。确保安全环保始终处于高压态势，提升本质安全水平，打造高水平紫金安全体系。

To install an overall ESG system with Zijin characteristics, we will follow international standards and norms, and improve our performance in environmental protection, OHS, human rights protection, anti-corruption and supervision, responsible supply chain, and social contribution. We aim to set the global benchmark in recycling, management, and online monitoring of water at mines and in ecological restoration.

We will improve our licensing work in all areas, to ensure compliance with laws and regulations. Meanwhile, stronger measures will be taken on ecological conservation and natural carbon sinks. We will build solar, wind and hydro power generators at our mines to speed up the shift from oil to electricity and electrification. We will invest more in clean energy, and build green mines to international standards. Putting high emphasis on safety and environmental protection, we keep improving our safety indicators and safety processes.

跨越增长，加速资源优势转化为产品及效益优势。

Achieve leapfrog growth by turning mineral resources into mineral products and sales revenues.

2022年，我们面临良好的市场机会，随着多个一流项目的建成投产，主要产品产量实现高增长是比较确定的事项，要把“该赚的钱赚回来”作为基本要求，争取实现“超预期”跨越增长。

The bullish sentiments for metals and commodities will not fade away in 2022 and this is another year that will witness our strong growth as many of our world-class projects will be put into operation. Time is our friend, so we must “earn the money we ought to earn”, and strive for higher-than-expected, leapfrog growth.

铜矿项目要充分发挥“跨越增长”主力军作用，确保成熟项目稳产达产高产，加快新建项目建成投产达产，全力推动卡莫阿-卡库拉铜矿二期采选项目建成投产以及冶炼厂项目建设，加快启动卡莫阿-卡库拉铜矿三期、塞尔维亚佩吉铜金矿下部带、西藏巨龙铜矿二期等部分关键工程建设，推进塞尔维亚紫金铜业、黑龙江铜山铜矿等一批改扩建项目提质增效。大力激发黄金板块动能，加快哥伦比亚武里蒂卡金矿、圭亚那奥罗拉金矿、澳大利亚诺顿金田等重点项目技改及在产项目达产，积极争取波格拉金矿的复产；推动山西紫金斑岩型金矿和贵州紫金技改项目投产，为公司增长作出新贡献。抓住锌价高位机遇争取超额完成规划产量指标；实现新能源矿种项目实质性突破，完成阿根廷3Q锂盐项目的交割并启动工程建设以最快速度实现投产，在提锂工艺技术取得重要突破，并快速启动新产能建设，在硬岩锂方面取得进展，争取成为全球重要的锂材料供应商；适度延伸相关产业链优势，冶炼、加工、建设、物流、技术和金融贸易等板块要形成更大合力，为公司跨越增长作出新贡献。

Copper projects are the main driving force for the Group’s “leapfrog growth”. Mature copper mines must maintain stable production and push for even higher outputs. New projects must speed up their construction so that they can be commissioned and reach nameplate capacity as soon as possible.

We will advance the construction of Kamoa-Kakula copper mine Phase 2 and the smelter project, and fast track Kamoa-Kakula Phase 3, the Lower Zone of the Čukaru Peki gold-copper mine in Serbia and Phase 2 of Julong Copper in Tibet. We will also push forward with technical upgrades and expansion projects at Serbia Zijin Copper, Heilongjiang Tongshan copper mine and other projects.

The potential of our gold projects will be further unlocked. We will accelerate technical upgrading or ramp up production at our key gold assets including the Buriticá Gold Mine in Colombia, the Aurora Gold Mine in Guyana, and Norton Goldfield in Australia. We will push for the restart of the Porgera Gold Mine, the commencement of production at the porphyry gold mine of Shanxi Zijin and that of the technical upgrading at Guizhou Zijin.

We aim to beat our production targets for zinc to take advantage of the current bullish cycle.

Substantive breakthroughs will be made to expand our renewable energy portfolio. We will ensure the completion of the 3Q lithium deal, kick off engineering and construction, and begin commercial production as early as possible. We will work towards major breakthroughs in lithium extraction technology, and start the construction of new capacities. And we will seek opportunities in the field of hard-rock lithium. Our goal is to become an important global supplier of lithium materials.

To give a further boost to our leapfrog growth, we will tap into mining-related industries, and forge greater synergy among our businesses of smelting, processing, construction, logistics, technologies, finance, and trading.

持续发展，全面提升全球竞争力。

Enhance global competitiveness across the board through sustainable development.

坚持面向全球配置资源，寻求具有重大战略意义中大型矿业公司并购机遇；开启紫金山和重点矿山新一轮找矿工作，加大自主找矿勘查力度，争取实现新突破；重视矿产及延伸产业协同，介入“城市矿山”及循环经济领域。以技术创新推动生产运营质量和效率提升，强化以我为主、高效协同的系统技术和工程研究、设计及实施能力，实现大规模地下开采崩落法实质性应用突破，在提锂工艺、氨-氢能源、清洁能源、智能控制、信息化等技术及产业化取得突破。围绕矿业主业加大产融贸结合，优化资产和财务结构，推动上市公司高质量发展，建设运营好上海资本投资和海南国际运营及金融贸易平台，为公司可持续发展增加新动能，为股东和投资者创造新的价值。

Zijin Mining will look up the global mining pool for strategic, medium-sized and large M&A deals. The Zijinshan Mine and other key mines will launch new rounds of prospecting, with more in-house exploration expertise to secure new breakthroughs.

The Group will create synergy between mining and other related industries, and enter the field of “urban mining” and circular economy. We will drive improvements in production and operation with technological innovation. We will further develop our in-house, integrated expertise in mining technology and engineering, and in research, design, and implementation. We will break new ground in block caving, lithium extraction, ammonia-to-hydrogen energy solutions, clean energy, smart technology and information technology.

Zijin Mining will pursue high-quality development by integrating its core business of mining with finance and trading, and optimizing its asset and financial portfolios. We will make the most out of our investment company in Shanghai as well as our platform for overseas operations, finance and trading in Hainan. Success on these fronts will inject new impetus to our sustainable development and create more value for our shareholders and investors.

加大国际化青年人才、技术工人的引进和培养使用，完成千人“金榜生”招聘计划。加强监督和反腐败工作，全力构建与关联方“亲清”的共依共存共发展生态。大力传承弘扬紫金优秀文化，坚持“开发矿业、造福社会”共同发展理念，向世界展现紫金形象、紫金价值、紫金境界，让更多的人因紫金的存在而受益。

The Group will step up the recruitment, training, and use of young, internationally competent talent and skilled workers. Our plan is to recruit 1000 top graduates this year. We will strengthen internal supervision and fight corruption, and with integrity and honesty we closely engage with our stakeholders so that we can grow together.

Every action is guided by our corporate culture. We always stick to our philosophy of “Mining for a Better Society”. And we will bring more benefits to more people so that our values and visions will be better understood.

伟大的时代提供了广阔空间和重大机遇，澳门赌场官网作为全球矿业市场的重要参与者，面对诸多严峻的困难和挑战，一定能跨越增长攀高峰，布设新局建新功，不断提升企业全球竞争力，早日建设成为绿色高技术超一流国际矿业集团！

We live in a great era, with massive potential and opportunities to be explored. As an important player in the global mining industry, Zijin Mining is determined to rise to the challenge, improve its global competitiveness, and scale the heights of this new journey, so as to be a green, high-tech, leading global mining company as early as possible.

祝新年快乐！吉祥如意！

Happy new year! And I wish all of you the very best.

   澳门赌场官网 董事长 陈景河

Chen Jinghe, Chairman of Zijin Mining Group

2021年12月31日

December 31, 2021