China Gold International Resources Corp. Ltd. has approved a development plan for the Jiama Copper-Polymetallic Mine in Tibet, shifting away from its previous design capacity of 50,000 tonnes per day under a combined open-pit and underground mining approach.

The newly approved plan targets a processing capacity of approximately 160,000 tonnes per day and marks a strategic transition to a super pit mining strategy as the primary extraction method. The proposal also contemplates the integrated development of the existing mining licence and the adjacent exploration licence area.

The development plan follows the company's June 30, 2026 mineral resource and reserve update, which reported a Measured Mineral Resource of 623.1 million tonnes grading 0.71% copper in the mining license area and total mineral reserves of 651.24 million tonnes (comprising 538.5 million tonnes underground and 112.74 million tonnes open-pit). These estimates serve as the technical foundation for the proposed super-pit expansion.

The expansion remains subject to the completion of an ongoing Preliminary Feasibility Study, further internal reviews, and all required regulatory approvals. Approval of the development plan does not constitute a final investment or construction decision by China Gold International Resources.

The ongoing Preliminary Feasibility Study is evaluating the optimal mine plan, engineering configuration, capital requirements, and project economics, with completion expected around the end of 2026. Based on current planning assumptions, no material impact on existing production is expected during construction.

To support the expanded operation schedule, the company expects construction of the Youlongbu Tailings Storage Facility to finish by the end of 2027, preventing bottlenecks during commissioning.

“The approval of the advancement of the next phase of Jiama's development marks an important milestone in the Company's long-term growth. Our strategy has always been clear—to create sustainable shareholder value through disciplined organic growth by maximizing the value of our existing assets. Jiama and CSH remain the foundation of that strategy. This project reflects our confidence in Jiama's long-term future and our commitment to delivering on the strategic objectives we have communicated to the market. We look forward to keeping our shareholders informed as we achieve the next key milestones in Jiama's development.”

— Mr. Hou Chenguang, Chairman and Chief Executive Officer

Read the full announcement: China Gold International Resources Management Approves Jiama Development Plan