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Stewardship principles Sustainable business practices
Continuously held since: 2020 Holding as at end 2025: 1.37 percent
Zijin Mining is a leading Chinese mining company with a global footprint. It produces metals, such as copper, gold, lithium and zinc, which are critical to the energy transition, and few companies are as pivotal to global supply as Zijin. We first invested in the company in late 2020. Our investment case recognises the company's growth potential, the significant governance and sustainability risks inherent in mining (especially for companies operating in complex jurisdictions) and the opportunity for the company to continue improving.
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| Engagement type | First engaged on the topic | Status | |
|---|---|---|---|
| To ensure the company is taking appropriate remedial actions in relation to historic social and environmental incidents and encourage ongoing adherence to international norms and best practices on operational safety, human rights and transparency | Influencing | 2022 | Completed |
We launched a three-year engagement to deepen our understanding of the company's historical social and environmental incidents and to push for improvements aligned with international standards. We set clear objectives and timelines, established and maintained regular dialogue, attended site visits, sought external expert input and called for transparent audits. We engaged with a third-party rating provider to understand how it was scoring Zijin in its controversy assessments.
Our stewardship philosophy is rooted in the belief that persistent, constructive engagement can drive meaningful change, even in challenging sectors. Zijin stood out for its global footprint, the materiality of its operations and the opportunity to continue improving. For miners, the complexity created by operating in remote areas and countries with varying governance standards can create additional opportunities and challenges. For investors, robust social and environmental practices are essential for unlocking long-term value and ensuring appropriate risk management to maintain the social licence to operate. As global demand for copper rises, miners face heightened scrutiny, especially regarding the safety of their operations, human rights and transparency.
by operating in remote areas and countries with varying governance standards can create additional opportunities and challenges. For investors, robust social and environmental practices are essential for unlocking long-term value and ensuring appropriate risk management to maintain the social licence to operate. As global demand for copper rises, miners face heightened scrutiny, especially regarding the safety of their operations, human rights and transparency.
We concluded the engagement in September 2025 after observing tangible progress in transparency and disclosure, external validation, governance practices and third-party assessments, as well as a firmer foundation for future monitoring.