Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalZijin Mining Group Co., Limited is a multi-national mining company headquartered in mainland China. Zijin is a Shanghai Stock Exchange and Hong Kong Stock Exchange listed mining company principally engaged in the prospecting, exploration, and mining of gold, copper, and other mineral resources with operations in 11 countries. Its largest shareholder Shanghang Minxi Xinghang State-Owned Property Investment Company, which holds 24% of Zijin, is owned by the government of Shanghang County, Fujian Province, where Zijin's head office is located. Zijin is one of the largest gold, copper and zinc producers in China.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalWorkers of Lunsin LLC, a Tuvan subsidiary of the Chinese Zijin Mining Group, accused the company of discrimination in wages. The company is developing the Kyzyl-Tashtyg polymetallic deposit. The Biden administration has added 37 more Chinese companies to a "blacklist" banning imports of their products into the United States over their alleged use of forced labor in the Xinjiang region. The list includes mining giant Zijin Mining Group, according to a statement from the U.S. Department of Homeland Security. China's largest mining company wants to leave Russia because of sanctions. We are talking about the Kyzyl-Tashtyg Mining and Processing Plant OOO "Lunxing", owned by the Chinese Zijin Mining Group, which is one of the largest companies in China. From June 1, the enterprise will be downtime due to the fault of the employer. The decision was explained by "financial difficulties" due to a significant expansion of sanctions against the Russian financial sector and the subsequent refusal of Chinese banks to work with Russian financial institutions, which "led to a delay in payment for the products sold by OOO "Lunxing".