拨开疫情的阴霾，，在极其难题情况下，，2020年UPAY钱包官方网站矿业实现了逾越增长，，兑现了“首战超预期”诺言。。今天我们迎来了2021年新年，，我谨代表公司向奋战在全球各地的宽大员工及眷属、、合作者和社区人民致以真挚的问候！！！出格要向疫情期间坚守岗位和逆行出征的“UPAY钱包官方网站英雄”致以崇高的敬意！！！向所有关切、、支持和援手UPAY钱包官方网站矿业发展的列国当局、、投资者与社会各界伴侣致以新年美好的祝福！！！

In 2020, under extremely difficult circumstances, Zijin Mining achieved leapfrogging growth. We managed to deliver better-than-expected results despite the COVID-19 pandemic. Today, we are welcoming 2021. On behalf of Zijin Mining Group, I would like to extend sincere greetings to our employees based across the world, their families, our partners, and members of our local communities. In particular, I salute the “Zijin heroes”- employees who have stayed on their jobs during the pandemic, and those who braved the virus to go work in their positions. And a happy new year to all governments, investors and friends from all walks of life. Thank you for your interest in Zijin Mining, and for the support and help you provide to us.

从前的一年，，是极其不平庸的一年

2020 has been an incredibly extraordinary year

新冠疫情成为全球最大的“黑天鹅”，，给当现代界带来强烈冲击，，影响深远。。在疫情叠加全球经济衰退的布景下，，UPAY钱包官方网站矿业新一届治理团队对峙“深入鼎新、、逾越增长、、持续发展”的工作总路线，，携带整个员工负重前行，，黄金产量稳产高产，，矿山产铜初显发作增长态势。。公司全球行业竞争力稳步提升，，国际化运营治理水平不休加强，，重要经济指标超预期增长，，公司价值得到市场的高度认同，，实现翻番增长，，彰显出壮大抗风险能力和增长潜力。。

The COVID-19 pandemic, the biggest “black swan” event we have seen, has hit the world really hard, and will leave a far-reaching impact. Against the backdrop of the pandemic and a global economic recession, our Group’s new senior management team executed the strategy of “deepening reform for leapfrogging growth and sustainable development”, and led our employees to forge ahead against all odds. Thanks to their efforts, our gold production remains high, and there are signs of explosive growth in mined copper. Our Group has seen a steady rise in competitiveness among our global peers, with our operations and management becoming more internationalized. And our main business indicators have risen to higher-than-expected levels. The value of our Group has been highly recognized in the market, with our market cap doubling. It demonstrates our strong ability to withstand risks, and our huge growth potential.

公司金铜资源储量大幅培厚。。新并购的武里蒂卡金矿和圭亚那金田昔时交割昔时投产，，昔时实现效益
；；中国最大的驱龙铜矿的成功并购，，确立了UPAY钱包官方网站在中国铜矿山行业绝对当先职位。。公司黄金资源储量超过2300吨、、铜超过6200万吨、、锌（铅）约1000万吨，，为公司逾越式增长提供了坚实的资源保险。。

Our gold and copper reserves have increased significantly - the Buriticá gold mine and the Guyana gold mine we bought began production within the year; in fact, they are already generating revenue. The acquisition of Qulong Copper Mine, the largest of its kind in China, puts Zijin in an unrivalled leading position in the Chinese copper mining industry. In terms of resource reserves, we now control over 2300 tonnes of gold, more than 62 million tonnes of copper, and about 10 million tonnes of zinc and lead. They constitute a solid basis for our future leapfrogging growth.

公司“项目建设年”获得丰硕成就。。哥伦比亚武里蒂卡金矿建成投产，，圭亚那奥罗拉金矿复原出产，，陇南UPAY钱包官方网站10000吨/日技改扩建工程全面投产，，贵州UPAY钱包官方网站、、山西UPAY钱包官方网站、、澳大利亚诺顿金田等一批黄金增量项目技改工程全面开工
；；刚果（金）卡库拉铜矿项目建设超预期推动，，塞尔维亚Timok铜金矿上带矿建设进展喜人，，塞尔维亚UPAY钱包官方网站波尔铜业系列技改项目全面提速，，西藏巨龙铜业“浴火更生”，，在建工程全线复工。。

We have achieved much through our “Project Construction Year” campaign. The Buriticá gold mine in Colombia began production after construction was completed. The Aurora Gold Mine in Guyana resumed production. The technical upgrade project for the capacity of 10, 000 tonnes per day at Longnan Zijin Gold Mine has been completed and is in production. Technical upgrades to gold mines held by Guizhou Zijin Mining, Shanxi Zijin Mining, Norton Gold Fields of Australia, and AGM of Guyana, which are our additional sources of gold, have been kicked off. The construction of the Kakula Copper Mine in the Democratic Republic of the Congo is ahead of schedule. Underground development of the Upper Zone of the Timok Copper-gold mine in Serbia is encouraging. Technical upgrades to copper mines at Serbia Zijin Copper Doo Bor are picking up pace. Tibet Julong Copper had a “rebirth” under our watch, with all of its preceding construction activities resumed.

公司高规格召开第六次科技大会，，并承办首届中国矿业科技创新与可持续发展论坛。。公司独创的“矿石流五环归一”矿业工程治理模式在行业产生深远影响，，一批科技成就得到行业高度认可，，以创新为代表的行业技术比力优势持续坚韧。。

We held our 6th Science and Technology Symposium, with the participation of high-level delegates. We also hosted the first Forum on Innovation and Sustainable Development for the Chinese Mining Industry. Our unique “Five in One” mining model, a holistic approach to geological exploration, extraction, mineral processing, smelting and environmental protection, has had a wide-ranging impact in the sector. A number of our research findings have been highly recognized in the industry. Our comparative advantages in technology, which are driven by innovation, continue to be strengthened.

公司对峙提升上市公司质量，，积极为投资者创制价值，，本钱市场认可度和影响力大幅提升，，公司总市值超过2300亿元，，较岁首实现翻番增长，，并实现了60亿元A股可转债刊行。。公司对接国际尺度，，自上而下推动成立环境、、社会和管治（ESG）系统架构，，可持续发展能力显著加强，，绿色生态矿山建设持续向好。。

As a public company, we are committed to increasing the quality of our business, and creating value for investors. Our Group’s recognition and influence in the capital market have increased significantly. Our market cap now totals more than RMB 230 billion, doubling that from the beginning of the year. We issued RMB 6 billion in convertible bonds in the A-share market. On the basis of international standards, we have been building our environmental, social and governance (ESG) system from top to bottom. Our capability for sustainable development has been increased significantly, and we are making our mines greener and more environment-friendly.

公司进一步强化企业党委、、董事会、、监事会和经营班子的高效协同，，推动“简洁、、规范、、高效”的全球化运营治理系统建设，，企业治理、、治理效能和整体活力显著改善。。公司积极推广社会责任，，共同发展理念得到宽泛认同，，蝉联第六届“全国文化单元”殊荣。。

We have strengthened coordination among our board of directors, board of supervisors and senior management. We have been pushing for the establishment of a globalized operations and management system that is “lean, well-structured, and efficient”. This has brought about marked improvements to our corporate governance, management efficiency and overall vitality. We have been active in fulfilling our corporate social responsibilities. Our concept of common development has been widely recognized - the winning of “Sixth National Civilized Entity” award is a testimony of this.

当现代界正经历百年未有之大变局，，新冠疫情火上加油，，国际经济局势波谲云诡。。逆全球化思潮使经济存在较多不确定性，，全球经济增长放缓甚至衰退是或许率事务
；；中国大力推动国内大循环为主体、、国内国际双循环相互推进的新发展格局，，中国经济正由高速增长向高质量发展阶段转型，，市场空间依然辽阔，，发展韧性强劲。。

The world is undergoing momentous changes unseen in a century. The COVID-19 pandemic is still raging. As such, the world economic situation is complicated and unpredictable. The headwinds of de-globalization have resulted in many uncertainties in the economy. The world economy is highly likely to suffer a slowdown or even a recession. The Chinese government is promoting a new development dynamic, in which the domestic economy is the mainstay, and domestic and international markets reinforce each other. The Chinese economy is transitioning from rapid growth to high-quality development. With a massive market, China is still a resilient economy.

随着疫苗的全面使用，，人类战胜疫情能够预期，，中国将持续成为推动全球经济复苏的中坚力量。。全球超宽松的钱币政策，，避险感情持续升温。？？？蟛试醋魑肮ひ盗甘场，，在后疫情时期可能出现报仇性价值上涨，，以“去碳化”为导向的新资料、、新能源行业飞速发展，，与之有关的金属价值加快回暖，，金铜等金属价值有望维持在高位运行。。但由于世界经济不确定性增长，，当前资产价值上涨与钱币超发贬值有关，，“滞涨”是一个或许率事务，，在相当水平上正在生长金融和经济
；；，，务必高度器重风险节制，，不因主营金属价值高涨而自我膨胀。。

With the roll-out of vaccines, mankind is expected to prevail over the pandemic. China will continue to be a key driver for global recovery. Ultra-loose global monetary policies have heightened risk-averse sentiments in the market. Mineral resources, the “food” for industries, have seen their prices surge in the post-pandemic era. New materials and new energy industries, which contributes to the de-carbonization movement, are developing rapidly. As a result, prices of metals required by these sectors are rebounding; gold and copper prices are also expected to remain high. However, the current price hikes are linked to the over-supply and depreciation of money, caused by rising uncertainties in the global economy. The probability of stagflation is high. To a large extent, there is a financial and economic crisis brewing. We must take risk management seriously, and shouldn’t become over-confident as the prices of our main metal products run high.

2021年是公司深入鼎新构建全球化运营治理系统规划执行的第一年，，也是公司推动逾越增长的关键之年。。
2021 is the first year for us to implement our Reform Plan, in order to build a globalized operations and management system. It is also a crucial year in our push for leaping growth. 

时不我待，，只争朝夕

Time and tide wait for no man. We will seize the day.

——推动鼎新规划落地生根，，确保初步建玉成球化运营治理系统获得内容性成就
——Carry out the Reform Plan, and deliver substantial results in the initial establishment of a globalized operations and management system.

要依照打造世界一流金属矿业公司尺度，，依照深入鼎新“三步走”的功夫表，，全面落实第一阶段的鼎新指标。。这次鼎新从深度和广度上都是前所未有的，，要以壮士断腕的刻意和勇气进行鼎新，，敢于突破传统“疆界”，，充分开释组织活力，，争做鼎新的推动者、、领跑者和示范者。。
On the basis of building a world-class metals and mining companies and our “three-step” timetable for further reform, we will put in place a leading, globalized operations and management system. This reform is going to be unprecedented in depth and breadth. We must see it through with unprecedented determination and courage, like a hero slashing his own wrist to rid himself of poison. We must break traditional “boundaries” to unleash the vitality of our organization, take the lead in carrying out the reform, and set a good example.

——加快资源优势转化，，确保企业逾越增长
——Achieve leapfrogging growth by making good use of resources.

后疫情时期对经济复苏有优良预期，，加上极其宽松钱币政策，，对黄金和根基金属价值形成有力支持。。要采取坚定有效行动，，实现多项重大建设项目定期或提前投产、、达产及达标，，加上已有产能要最大限度提高重要矿产品产量，，为今明两年实现经交易绩的逾越增长添砖加瓦。。同时，，面向全球配置资源，，加大地质勘查力度，，争取获得地质找矿的重大突破，，提升战术性矿产资源占有量。。
Positive expectations for post-pandemic recovery, and extremely loose monetary policies, will provide strong support for the prices of gold and base metals. We will take effective measures to finish a number of major construction projects, so that they can start producing on or ahead of schedule, and reach full capacity or meet required standards. On the other hand, we will work to maximize the output of major products from existing operations. The aim is to contribute to the leapfrogging of our business performance this year and next year. At the same time, we will allocate resources globally and add strategic mineral resources, through more active exploration activities, and efforts aimed for major breakthroughs in discovering mines.

——借力本钱市场，，确保投融资战术支持系统健康高效运行
——Keep our investment and financing system - our strategic backing - healthy and efficient by working with capital markets.

以提升上市公司质量为底子，，进一步对接境内外本钱市场，，构建多模式的本钱平台，，推进公司业务板块与本钱市场有机融合
；；拓展境内外融资渠道，，持续修复和提升企业市场价值。。提升公司本钱运营和治理能力，，高度器重风险防控，，要进一步优化财政和金融本钱治理。。
With a view to increasing the quality of our business, we will better engage with domestic and international capital markets, and build a capital platform that supports multiple models. We want to further synergize our business segments with capital markets. Meanwhile, we will expand financing channels in China and overseas, and see to it that our corporate valuation rally and rise. We will improve our capabilities in the management and use of capital, and take risk prevention and control very seriously. Further, we will optimize the management of our own finances and that of financial capital.

——对峙科技创新驱动，，形成相匹配的技术研发和信息数字系统
——Develop a R&D system and a digital system that meet our needs through innovation.

充分阐扬公司在自主勘查、、低品位难选冶矿产资源开发实际中形成的比力竞争优势，，重点突破大规模低成本以崩落法采矿为主的地下采矿技术与工程落地，，解决一批制约企业和行业发展的关键技术及利用问题。。投资与公司业务亲昵有关的科技型企业，，全面加大科技投入，，成立与全球化相匹配的技术研发能力，，全面构建以技术为先导的全球竞争力。
；；贫畔⒒低辰ㄉ，，改革矿山技术设备和开发模式，，加快信息化、、数字化与出产运营治理系统深度融合，，推动企业发展的质量刷新和效能刷新。。
We will leverage our comparative competitiveness, gained through proprietary exploration and development of low-grade, refractory minerals, to develop and adopt low-cost underground mining technologies for large-scale mining, which will be mainly based on the caving method. This will provide key technologies and solve practical problems that hinder our own development and that of the industry. We will invest in tech firms closely linked to our businesses. We will also invest more in science and technology, and develop our global competitiveness by increasing our research and development capabilities to meet our needs for globalized operations. We will continue to develop our IT systems, and introduce innovative mining technology, equipment and development models. We will further integrate information technology and digital applications into our production, operations and management system. The purpose of these initiatives is to boost the quality and efficiency of our development.

——加大人才造就和引进力度，，着力解决国际化人才“瓶颈”问题
——Break the skills bottleneck in our globalized operations by stepping up the training and hiring of talent.

以全球化角度和视野，，加大国际化人才的招聘、、造就和引进力度，，争取3-5年内根基解决国际化人才不及的关键问题。。对峙市场准则，，持续美满人才评价系统，，形成高效竞争和优胜劣汰机制，，引发组织和人员活力，，成立以价值创制者为本的国际化人资保险系统。。高度器重技术工人行列的建设，，关注员工对小我价值实现和美好生涯的必要，，让价值创制者占有更多的获得感、、归属感和成就感。。
With a global vision, we will step up the training and hiring of talent needed for globalized operations. We will strive to make up for the talents shortage within 3 to 5 years. On the basis of market norms, we will improve our employee appraisal system, to foster competition and add the survival-of-the-fittest element; we will also work to boost the vitality of our organization, and motivate our staff. We will put in place a globalized human resources system that puts value creators first. We will pay close attention to the development of our team of skilled workers, helping them to realize their own value and to meet their aspirations for a better life. The value creators will have a more rewarding and fulfilling career working with us, and will get a stronger sense of belonging.

——按国际尺度建设环境、、社会和治理（ESG）系统，，全面弘扬企业优良文化
——Build an environmental, social and governance (ESG) system in accordance with international standards, and celebrate our fine corporate culture.

推动公司ESG系统建设，，器重环境与生态
；；、、职业健康与安全、、人权
；；、、反凋落与监督、、掌管任供给链、、社会责任贡献等关键指标，，以绿色发展理念建设和运营新型矿山。。关爱性命、、
；；せ肪呈瞧笠党霾匦胱袷氐暮煜吆偷紫，，持续提升性质安全水平，，打造绿色生态国际品牌。。对峙“开发矿业，，造福社会”的共同发展的价值观，，构建优良的共依共存共同发展的产业生态，，让项目地点的国度、、社区、、员工和投资者以及关联者因公司的存在而获益。。
We will put in place an ESG system that gives priority to key indicators, including environmental protection, occupational health and safety, human rights protection, supervision and the fight against corruption, responsible supply chains, and social contributions. We will build and operate a new type of mines on the basis of green development. Protecting lives and the environment is both a minimum standard that must be met, and a red line that we can’t cross. We will continue to improve our level of inherent safety, and build an international brand name underpinned by green and eco-friendly practices. Following the principles of “mining with a social vision” and common development, we will foster an ecosystem of co-dependence and coexistence, allowing governments and local communities where our projects are located, as well as our employees, investors, and other stakeholders, to benefit from our Group’s existence.

UPAY钱包官方网站矿业立志成为拥有全球竞争力的世界一流金属矿业公司，，我们正处于全新的逾越增长的第一阶段，，我们已经有优良的基础，，只管山高路远，，暗潮涌动，，只有我们坚定信念，，同心并力，，敢于创新和担任，，必将创制无愧于时期、、无愧于社会、、无愧于汗青的优异业绩！！！
Zijin Mining is committed to becoming a world-class metals and mining company with global competitiveness. We are in the first phase of a new leapfrogging period. The road ahead is long, and full of challenges. Building on our sound development, we will stay determined, pull together, become more innovative, and take the challenge head on. We are confident that we will deliver excellent results that could withstand the test of the times and of the history, and that meet the expectations of the society at large.