Zijin Mining stock: Gold Mountains sees lasting metals demand
Published on 11/10/2026 at 09:35 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSMining outlook broadens investor focus
- Gold Mountains expects gold to remain high but volatile in the short term.
- The fund manager sees structural copper demand from artificial intelligence, electric vehicles, data centers and power grids.
- Royalty and streaming deals are becoming a larger part of its mining investment strategy.
Gold Mountains Asset Management, a fund manager backed by Zijin Mining, sees a durable investment case for gold, copper and uranium despite near-term volatility. Mining.com.au reported the assessment on Tuesday, November 10, in an interview with Lisa Liu, the firm's managing director and portfolio manager.
Gold Mountains is a Zijin subsidiary with a mining-focused mandate and teams that include geology and engineering specialists. Liu said the firm uses that technical background to assess projects, costs, management execution and jurisdictional risks while seeking cross-cycle returns.
Gold and copper remain core themes
Liu expects gold prices to remain high but volatile in the short term. She pointed to central-bank buying and de-dollarization as longer-term supports for the metal, while emphasizing that gold producers are generating strong net cash flow.
For copper, Gold Mountains sees demand from artificial intelligence, electric vehicles, data centers and power-grid investment. Liu cited the International Energy Agency's outlook for refined copper demand to rise from 26 million tonnes to 31-33 million tonnes in 2030, with demand potentially reaching roughly 40 million tonnes by 2050.
The fund manager's thesis is that mine supply will struggle to keep pace because copper projects require long lead times for discovery, permitting and construction. That view supports a preference for long-duration, low-cost and high-quality assets, but it does not remove the technical, cost, execution and environmental risks attached to new mines.
Streaming strategy moves forward
Gold Mountains completed its first streaming deal in 2024 and intends to pursue more royalty and streaming transactions. These structures are being considered alongside traditional equity investments, with the firm seeking exposure to project cash flows while applying its mining expertise to development and financing decisions.
Liu also highlighted uranium as an area of interest, citing rising power demand in Europe, North America and China as well as years of limited investment in new supply. The comments broaden the strategic backdrop for Zijin's wider metals portfolio, although the interview did not attach a financial target or earnings contribution to the fund's plans.
What investors should watch next
Gold Mountains' 2027 outlook is centered on quality assets with production potential and access to additional capital. Its approach is relevant to Zijin because the group's operating and technical capabilities can inform project screening, while the fund's investment activity may create additional relationships across the mining sector.
Zijin Mining stock traded at 3.30 euros on Lang & Schwarz at 09:31:11 CET on Tuesday, November 10, 2026.
Zijin Mining Group at a glance
- Company: Zijin Mining Group Co., Ltd.
- ISIN: CNE100000502
- Hong Kong ticker: 2899
- Lang & Schwarz price: 3.30 euros at 09:31:11 CET on Tuesday, November 10, 2026
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