Zijin Mining(SH:601899) Mei Ri Jing Ji Xin Wen·2025-11-29 07:39Core Viewpoint - Zijin Mining Group announced significant changes in its board of directors, including the retirement of its long-time leader Chen Jinghe, who will become the honorary chairman, marking a strategic transition from founder-driven to institution-driven management [2][4][9]. Group 1: Leadership Changes - Chen Jinghe, the founder and key figure behind Zijin Mining, will not accept nomination for the ninth board of directors due to age and family reasons, despite efforts from the board to retain him [2][4]. - The new board candidates include several long-time executives who have worked closely with Chen, indicating a continuity in leadership and management style [13][14]. Group 2: Financial Performance - Zijin Mining's stock price closed at 28.58 yuan, reflecting a year-to-date increase of over 95%, with a total market capitalization of 759.6 billion yuan [2]. - The company ranks 267th in the Forbes Global 2000 and is the top gold company globally, with significant contributions to China's copper and gold production [11]. Group 3: Resource and Production Metrics - Zijin Mining's copper production accounts for 65% of China's total, while gold production represents 24% [11]. - The company holds substantial proven and probable reserves, including 50.43 million tons of copper and 1,487 tons of gold, ranking second and fifth globally, respectively [11]. Group 4: Governance Changes - The board's restructuring includes the elimination of the supervisory board and the establishment of an audit and supervision committee to fulfill some of its functions, aligning with new corporate governance regulations [14][15]. - A diverse slate of independent director candidates has been proposed, bringing a wealth of experience from various sectors, including international mining investment and geological research [15].