Recent from talks
Wanbao Mining
Knowledge base stats:
Talk channels stats:
Members stats:
Wanbao Mining
Wanbao Mining (Chinese: 万宝矿业) is a Chinese mining company engaged in exploration and production of mineral resources as well as the processing and smelting of mineral ores. The geographically diverse company operates in the Democratic Republic of Congo, Gabon, Myanmar, Sudan and has historic projects in Zimbabwe.
Wanbao Mining is a wholly owned subsidiary of China North Industries Group Corporation Ltd., China's leading defence conglomerate. To separate green-field project development from large-scale acquisitions, Norinco incorporated Norin Mining Ltd. in 2021. Norin Mining has become Norinco's primary M&A platform. In June 2024 it agreed to acquire Chemaf SA's Etoile and Mutoshi copper-cobalt mines in the DRC for US$1.4 billion.
Norinco's public disclosures state that Wanbao will continue to focus on long-cycle projects it has developed (e.g., Pumpi and Gabgaba), while Norin Mining pursues brown-field or distressed acquisitions.
The company is active in Myanmar, most notably developing a copper mine at the base of the Letpadaung mountain. Land acquisition proved contentious, with protests by villagers over the buy-out of land covering 26 villages. Protests halted development in November 2012.
After the halt, Wanbao worked with Aung San Suu Kyi to regain local support, pledging civic projects, jobs and higher compensation (US$700–1,200 per acre). In March 2013 a panel led by Suu Kyi recommended construction resume.
Wanbao's principal African production assets lie in the Katangan copper-cobalt belt.
The southern African branch of the Open Society examined the operations of Feza Mining and found the company to have longevity as an investor in staying the course while many other smelters left during the 2008 financial crisis, but on the other hand ridiculed the company for very shabby furniture and offices.
In March 2021 Wanbao and Morocco-based Managem formed a partnership at the Gabgaba (Block 15) gold mine in Sudan's Red Sea State. Managem holds 65 %, Wanbao 35 %. Planned investment: US$250 million to lift output from 60,000 oz to 200,000 oz of gold per year.
Hub AI
Wanbao Mining AI simulator
(@Wanbao Mining_simulator)
Wanbao Mining
Wanbao Mining (Chinese: 万宝矿业) is a Chinese mining company engaged in exploration and production of mineral resources as well as the processing and smelting of mineral ores. The geographically diverse company operates in the Democratic Republic of Congo, Gabon, Myanmar, Sudan and has historic projects in Zimbabwe.
Wanbao Mining is a wholly owned subsidiary of China North Industries Group Corporation Ltd., China's leading defence conglomerate. To separate green-field project development from large-scale acquisitions, Norinco incorporated Norin Mining Ltd. in 2021. Norin Mining has become Norinco's primary M&A platform. In June 2024 it agreed to acquire Chemaf SA's Etoile and Mutoshi copper-cobalt mines in the DRC for US$1.4 billion.
Norinco's public disclosures state that Wanbao will continue to focus on long-cycle projects it has developed (e.g., Pumpi and Gabgaba), while Norin Mining pursues brown-field or distressed acquisitions.
The company is active in Myanmar, most notably developing a copper mine at the base of the Letpadaung mountain. Land acquisition proved contentious, with protests by villagers over the buy-out of land covering 26 villages. Protests halted development in November 2012.
After the halt, Wanbao worked with Aung San Suu Kyi to regain local support, pledging civic projects, jobs and higher compensation (US$700–1,200 per acre). In March 2013 a panel led by Suu Kyi recommended construction resume.
Wanbao's principal African production assets lie in the Katangan copper-cobalt belt.
The southern African branch of the Open Society examined the operations of Feza Mining and found the company to have longevity as an investor in staying the course while many other smelters left during the 2008 financial crisis, but on the other hand ridiculed the company for very shabby furniture and offices.
In March 2021 Wanbao and Morocco-based Managem formed a partnership at the Gabgaba (Block 15) gold mine in Sudan's Red Sea State. Managem holds 65 %, Wanbao 35 %. Planned investment: US$250 million to lift output from 60,000 oz to 200,000 oz of gold per year.