Hainan Mining

What Hainan Mining does

Hainan Mining Co., Ltd. (海南矿业股份有限公司, SSE: 601969) is a Chinese diversified resource company controlled by Fosun International, established in 2007 and listed on the Shanghai Stock Exchange since 2014. It operates three reporting segments: iron ore, oil and gas, and new energy (lithium). The iron ore business centers on the Shilu Iron Mine in Changjiang, Hainan, with associated blending/blending services and an international trading subsidiary (Hai Mining International Trade), supported by proprietary magnetic roasting and AI-enabled photo-electric ore sorting technology. The oil and gas segment operates through subsidiary Rock Oil (洛克石油) across the Sichuan Bajiaochang Gas Field, Malaysia offshore, South China Sea Beibu Gulf and Zhujiangkang fields, and Oman onshore assets, with the Weizhou 10-3 West Area development commissioned in 2026. The new energy segment comprises the Mali Bougouni Lithium Mine (co-developed with Kodal Minerals, first shipment December 2025) and the 20,000-tonne-per-year battery-grade lithium hydroxide plant at Xingzhihai New Materials in Yangpu, Hainan Free Trade Port (first production September 2025).

The company earns revenue primarily through commodity sales to industrial customers under offtake agreements and spot market transactions across three end-markets: steel mills (iron ore), energy and petrochemical buyers (oil and gas), and battery manufacturers (lithium concentrate and lithium hydroxide). Pricing follows international commodity indices for iron ore, lithium, and crude oil. Distribution is direct via long-term contracts, with gtm rooted in enterprise field sales and strategic partnerships. The company was founded as a joint venture between Fosun International and Hainan Hai Steel Group, with Hainan Free Trade Port policy providing preferential structuring for its headquarters and downstream lithium chemicals operations.

As of 2025, Hainan Mining reports RMB 146 billion in total assets, RMB 44.16 billion in annual revenue, RMB 4.31 billion in net profit, and ~2,624 employees, with strategic resource reserves of 599.2 Mt iron ore and 188.6 Mt lithium ore resources plus proven and probable oil and gas reserves. The company positions itself as the only A-share listed company simultaneously active in mining and energy, executing a stated 'industrial operations + industrial investment' dual-wheel strategy. Active inorganic moves include the announced acquisition of Luoyang Fengrui Fluorine Industry (May 2026) and an ongoing Kodal Minerals arbitration related to the Bougouni project.

Name

Hainan Mining

Legal name

海南矿业股份有限公司

Website

https://hnmining.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hainan Mining (SSE: 601969) is a Chinese diversified resource company controlled by Fosun International that mines iron ore, produces oil and gas via its Rock Oil subsidiary, and produces lithium concentrate and battery-grade lithium hydroxide for steel, energy, and battery manufacturers.

Ownership category

akta.pro rank

Product category

Diversified Mining and Energy Resources

NAICS

Iron Ore Mining (212210), Other Metal Ore Mining (21229)

SIC

Metal Mining (1000)

akta.pro industry

PRIMARYIMAKAAAC

Iron Ore Mining Operations (Open-Pit & Underground)

Industrials, Manufacturing & Construction/Metals & Mining/Iron Ore Mining

SECONDARYIMAKAFAA

Lithium Mining & Brine Extraction

Industrials, Manufacturing & Construction/Metals & Mining/Battery & Critical Minerals Mining (Lithium, Nickel, Cobalt, Graphite, Manganese, Rare Earths)

SECONDARYIMAKAFAI

Battery-Grade Chemical Processing (LiOH/Li2CO3, Ni/Co Sulfates, Mn Sulfate)

Industrials, Manufacturing & Construction/Metals & Mining/Battery & Critical Minerals Mining (Lithium, Nickel, Cobalt, Graphite, Manganese, Rare Earths)

Keywords

• Iron ore mining
• Oil and gas production
• Lithium concentrate processing
• Mineral processing
• Battery-grade lithium hydroxide

Headquarters

HQ city

Changjiang

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Iron Ore Mining and Trading: Revenue from iron ore extraction, processing, and sale of iron ore products including concentrate and traded ore
2. Oil and Gas Production: Revenue from crude oil and natural gas extraction and sales through subsidiary Rock Oil
3. Lithium Products: Revenue from spodumene concentrate sales and lithium hydroxide production from Bougouni lithium project in Mali and Xingzhi Hai subsidiary

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Hainan Mining is a diversified resource extraction company engaged in iron ore mining and mineral processing at the Shilu Iron Mine, oil and gas exploration and production through subsidiary Rock Oil, and new energy upstream operations including the Bougouni Lithium Mine in Mali and a 20,000-ton battery-grade lithium hydroxide plant in Hainan. The company sells iron ore concentrate, crude oil, natural gas, spodumene concentrate, and lithium hydroxide primarily to industrial customers such as steel mills and battery manufacturers under offtake agreements.

Product overview

Hainan Mining operates a diversified resource portfolio across three core business segments: (1) Iron Ore - covering Shilu Iron Mine mining, processing, and trading plus mixing/blending services; (2) Oil & Gas - including exploration, development and production across Sichuan Bajiaochang Gas Field, Malaysia offshore oil and gas, South China Sea Beibu Gulf offshore oil fields, Zhujiangkou offshore oil fields, and Oman onshore oil fields; (3) New Energy - comprising the Mali Bougouni Lithium Mine and lithium salt business including the Xingzhihai 20,000-ton battery-grade lithium hydroxide project. The company represents A-shares' only listed company simultaneously positioned in both mining and energy sectors.

Differentiator

Problem solved

Functional benefit

Products and services

• Shilu Iron Mine (石碌铁矿) Primary iron ore mining, concentration processing, and trading operation located in Hainan, featuring an intelligent control center and AI-powered photo-electric ore sorting technology. Serves steel mills and commodity traders.
• Oil and Gas Business (石油天然气) Oil and gas exploration, development, and production operations across multiple regions including Sichuan Bajiaochang Gas Field, Malaysia offshore oil and gas fields, South China Sea Beibu Gulf offshore oil fields, Zhujiangkou offshore oil fields, and Oman onshore oil fields. Conducted through subsidiary Rock Oil for energy and petrochemical sector customers.
• New Energy Business (新能源) New energy upstream industry covering lithium mining and lithium salt business, including the Mali Bougouni Lithium Mine and the 20,000-ton battery-grade lithium hydroxide project in Hainan, serving lithium battery producers and EV supply chain customers.
• Bougouni Lithium Mine (马里布谷尼锂矿) Lithium mining project in Southern Mali, West Africa, developed in partnership with Kodal Minerals. Produces spodumene concentrate for export to China for lithium battery producers.
• Lithium Salt Business (锂盐业务) Lithium chemical processing including the 20,000-ton battery-grade lithium hydroxide project operated by subsidiary Xingzhihai New Materials Co., Ltd. in Yangpu Industrial Park, Hainan Free Trade Port.
• Weizhou 10-3 Oil Field (涠洲10-3油田) Offshore oil field in the South China Sea Beibu Gulf area. The Western Area development project reached first oil production in 2026 with expected peak output of 10,000 barrels per day.
• Bajiaochang Gas Field (八角场气田) Natural gas field located in central Sichuan province, operated by subsidiary Rock Oil. The field has undergone production enhancement projects achieving accelerated development.
• Mixed/Ore Blending Business (混配矿业务) Iron ore mixing and blending services that combine different ore types to meet customer specifications for iron content and impurities for steel manufacturers.
• Hai Mining International Trade (海矿国贸) International trading subsidiary handling import and export of iron ore products and other mineral resources.

Quantifiable outcome

• 20,000 tonnes per year battery-grade lithium hydroxide production capacity reached
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature2 records

Partnerships

One partnership is on record.

• Kodal Minerals plccoreStrategic or Co-development Partner · 1 February 2024Kodal Minerals and Hainan Mining co-develop the Bougouni Lithium Project in Southern Mali. Hainan Mining provides project financing and offtake rights for spodumene concentrate production. First production achieved February 2025, first shipment December 2025. Stage Two flotation plant development advancing in partnership with Hainan Mining.

Scale indicators8 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Vale S.A. Vale is the world's largest iron ore producer, operating the Carajás mine in Brazil and global logistics infrastructure. Directly comparable to Hainan Mining as a major iron ore producer with similar commodity exposure (iron ore as core business plus base metals).
• CNOOC Limited: CNOOC is China's largest offshore oil & gas producer with extensive operations in the South China Sea (including Beibu Gulf and Weizhou area where Hainan Mining operates) plus international assets. Direct peer to Hainan Mining's offshore oil & gas business in similar Chinese waters.
• Rio Tinto Group: Rio Tinto is a globally diversified mining major with iron ore (Pilbara operations) as its largest segment, plus copper, lithium, and aluminum. Highly comparable to Hainan Mining's diversified resource strategy across iron ore, lithium, and other minerals.
• BHP Group: BHP is a diversified global mining major with significant iron ore operations in Western Australia plus copper, nickel, and potash. Comparable to Hainan Mining's diversified resource model and exposure to multiple commodity cycles.
• Zijin Mining: Zijin Mining is a major Chinese diversified mining company with operations in copper, gold, zinc, and lithium. Comparable to Hainan Mining as a Chinese-listed diversified resource platform pursuing both traditional and battery-metal mining opportunities.

Direct peers

• Ganfeng Lithium: Ganfeng is a leading Chinese integrated lithium producer with upstream resources (Mount Marion, etc.) and downstream lithium chemicals (hydroxide, carbonate) production. Highly comparable to Hainan Mining's vertical integration from Mali lithium concentrate to Yangpu lithium hydroxide plant.
• Pilbara Minerals: Pilbara Minerals is one of the world's largest hard-rock lithium producers (Pilgangoora project in Western Australia) producing spodumene concentrate. Direct peer to Hainan Mining's Bougouni lithium project for spodumene concentrate production targeting Chinese battery markets.
• Fortescue Metals Group: Fortescue is a pure-play iron ore producer in Australia's Pilbara region with comparable mining, processing, and shipping operations. Direct peer to Hainan Mining's Shilu iron ore business model with similar scale of operation.
• Mineral Resources Limited: Mineral Resources operates iron ore (Mount Marion, Wonmunna) and lithium mining (Mt Marion joint venture with Ganfeng) in Australia. Closely comparable to Hainan Mining's combined iron ore plus lithium strategy with similar mid-cap diversified profile.
• Tianqi Lithium: Tianqi Lithium is a major Chinese lithium chemicals producer with interests in the Greenbushes mine (Australia) and global processing assets. Comparable to Hainan Mining's integrated lithium strategy with both upstream mining and lithium hydroxide production.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hainan Mining