Moody's rates Zijin Mining Baa3

Moody's Investors Service said it assigned a first-time Baa3 issuer rating to Zijin Mining Group Co. Ltd.

The outlook is stable.

The rating reflects the company's large scale and leading position as one of the major producers of gold, copper and zinc in China, profitable mining operations with competitive cost advantages and diversified metal products and geographic locations, Moody's said.

The company is ranked among the top 3 metal mining companies in China in terms of production volumes, the agency noted.

Zijin has competitive operating costs in its upstream mining operations, enabling it to maintain profitable operations throughout the cycles, the agency added.

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