Tibet Huayu Mining

What Tibet Huayu Mining does

Tibet Huayu Mining Co., Ltd. (西藏华钰矿业股份有限公司) is a Chinese-listed mining enterprise founded in 2002 and headquartered in Lhasa, Tibet Autonomous Region. Its core business is solid mineral exploration, extraction, processing, and trading of non-ferrous metals, principally lead, zinc, copper, antimony, gold, and silver concentrates. The company operates a portfolio of domestic mines including the Zhaxikang lead-zinc polymetallic mine in Shannan (Tibet), the Lawu copper-lead-zinc mine in Dangxiong County (Nagqu), and the Chageile lead-zinc project in Shigatse, supplemented by overseas assets in Tajikistan and Ethiopia.

The company listed on the Shanghai Stock Exchange in March 2016 (stock code 601020) with 555 million yuan of registered capital. From December 2017, responding to China's Belt and Road Initiative, Huayu acquired a 50% stake in Tajikistan's Tal Aluminum Gold (with the state-owned Tajik Aluminum partner), 70% of Ethiopia's Tigray Resources (Mato Bula gold-copper and Da Tambuk mines), and 40% of Guizhou Yatai Mining, transforming itself from a regional miner into a multinational group with three branches, eight subsidiaries, and two cross-border joint ventures. Core mining technology comprises underground drift and shaft development, shallow-hole shrinkage mining for thin ore bodies, sublevel open stope methods for medium-thick ore bodies, and a proprietary cyanide-free priority flotation process. The 5,000 t/day Tal Aluminum Gold antimony-gold processing facility reached production in April 2022 and is expected to produce approximately 2.2 tonnes/year of gold concentrate and 1.6 million tonnes/year of antimony concentrate, providing the company control of approximately 15% of global antimony supply.

The company generates revenue exclusively through B2B mineral-product sales to smelters and commodity traders, with pricing determined by reference to LME and LBMA benchmarks adjusted for ore grade and impurities. Primary customer segments are industrial manufacturers needing strategic minerals (ammunition, batteries, solar-panel inputs) and precious-metals buyers requiring certified concentrates. Distribution is via direct sales to Chinese smelters and an emerging Tajikistan-to-Lanzhou international freight rail corridor opened in January 2023. Huayu is led by Chairman Liu Liangkun (since May 2021, following founder Liu Jianjun) and General Manager Chen Xu (since March 2024), with 360 employees as of 2021.

Name

Tibet Huayu Mining

Legal name

西藏华钰矿业股份有限公司

Website

https://huayumining.com

Company type

Public

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Tibet Huayu Mining (西藏华钰矿业股份有限公司), listed on the Shanghai Stock Exchange (601020), is a Chinese non-ferrous metals producer of lead, zinc, copper, antimony, gold, and silver concentrates from mines in Tibet, Tajikistan, and Ethiopia. Its Talum Gold joint venture is expected to control approximately 15% of global antimony supply.

Ownership category

akta.pro rank

Product category

Non-Ferrous Metals Mining

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (212290)

SIC

Metal Mining (1000), Miscellaneous Metal Ores (1090), Gold And Silver Ores (1040)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industries

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Battery & Critical Minerals Trading (Lithium, Cobalt, Graphite, Manganese, Rare Earths) (IMAKAJAE)

Keywords

• Non-ferrous metals mining
• Polymetallic ore processing
• Lead zinc concentrates
• Antimony gold production
• Underground mineral extraction

Headquarters

HQ city

Lhasa

HQ country

China

HQ region

Asia

Offices11 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Mineral Product Sales: Revenue from mining and selling lead, zinc, copper, antimony, gold and silver mineral concentrates. Products are sold to smelters and commodity traders with pricing based on commodity market prices.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Tibet Huayu Mining engages in solid mineral exploration, extraction, processing and sales of non-ferrous metals including lead, zinc, copper, antimony, gold and silver. The company operates domestic polymetallic mines in Tibet (Zhaxikang and Lawu) with a 600,000 t/a concentration plant, and internationally produces antimony and gold concentrates via the Tal Aluminum Gold joint venture in Tajikistan. Mineral concentrates are sold directly to industrial smelters and commodity traders.

Product overview

Tibet Huayu Mining is a multinational mining corporation engaged in solid mineral exploration, extraction, processing, and trading of non-ferrous metals including lead, zinc, copper, antimony, gold, and silver. The company operates a diversified portfolio comprising domestic mining operations in Tibet (including the Zhaxikang polymetallic mine) and international assets through subsidiaries such as Talal Gold Industry in Tajikistan (50% equity, a joint venture with Tajikistan Aluminum Company), Tigray Resources Private Limited in Ethiopia (70% equity), and Guizhou Asia-Pacific Mining in China (40% equity). The company's core business encompasses mineral exploration, mining extraction, ore processing and dressing, as well as domestic and international mineral product trade.

Differentiator

Problem solved

Functional benefit

Products and services

• Lead-Zinc Polymetallic Concentrates Lead and zinc sulfide concentrates produced from underground polymetallic ore mined in Tibet, processed using the company's cyanide-free priority flotation process. Sold to industrial smelters and commodity traders for downstream refining into lead and zinc metal products used in batteries, galvanizing, and alloys.
• Copper Concentrates Copper concentrate produced from the Lawu mining area in Dangxiong County, Tibet, as part of polymetallic ore processing. Sold to smelters for refining into copper cathode used in electrical, construction, and industrial applications.
• Antimony Concentrates Antimony concentrate produced from the Kangqiaoqi gold-antimony mine in Tajikistan via the Tal Aluminum Gold 50%-owned joint venture. Used as feedstock for antimony metal and antimony compounds employed in flame retardants, lead-acid batteries, ammunition, and solar panel production. Expected to control ~15% of global antimony supply at full capacity.
• Gold Concentrates Gold concentrate produced from the Tal Aluminum Gold joint venture in Tajikistan and from the Mato Bula gold-copper project in Ethiopia. Sold to smelters for refining into gold bullion used in jewelry, electronics, and investment applications. First shipment delivered via international freight train from Tajikistan to Lanzhou New Area bonded zone in January 2023.
• Silver Concentrates Silver concentrate recovered as a by-product of lead-zinc-copper polymetallic ore processing at the company's Shannan branch and Tibet operations. Sold to refineries for silver metal production used in jewelry, electronics, and industrial applications.

Quantifiable outcome

• Global antimony market share: ~15%
• +4 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Seven partnerships are on record, tiered major, core and minor.

• 普安县人民政府majorStrategic or Co-development Partner · 1 June 2026与普安县工作座谈深化企地对接，推进泥堡金矿开发建设及县域矿产资源开发合作。普安县政府表示将专班推进、靠前服务。
• 提格雷资源私人有限公司 (Tigray Resources)coreStrategic or Co-development Partner · 1 January 2019收购埃塞俄比亚提格雷资源私人有限公司70%股权，拥有Mato Bula金铜矿和Da Tambuk矿两个采矿权证，年产黄金2.2金属吨。项目于2023年重新启动建设。
• 塔吉克铝业 (Tajik Aluminum)coreStrategic or Co-development Partner · 1 December 2017华钰矿业收购塔吉克斯坦最大国有企业塔吉克铝业持有的塔铝金业公司50%权益，共同设立合资企业。塔铝金业康桥奇金锑矿项目是落实国家一带一路倡议的重点项目，2018年开工，2022年4月投产，年处理矿石量150万吨。
• 贵州亚太矿业有限公司majorStrategic or Co-development Partner · 1 January 2017收购贵州亚太矿业有限公司40%股权，涉及普安县泥堡金矿采矿权及兴仁县泥堡南金矿探矿权。
• 西藏盛源矿业集团majorStrategic or Co-development Partner嘉实矿业合资方，西藏日喀则嘉实矿业有限公司由华钰矿业和盛源矿业共同设立，拥有查个勒铅锌矿等项目。
• 中和资产评估有限公司minorOthers中标承担华钰矿业2025年度资产评估服务，包括塔吉克斯坦康桥奇矿区采矿权减值测试等5项资产评估服务，报价78万元。
• 北京晟明资产评估有限公司minorOthers中标承担华钰矿业2025年度资产评估服务，包括西藏地区多个探矿权和采矿权减值测试，报价40万元。

Scale indicators24 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Hsikwangshan Twinkling Star: Listed Chinese antimony and tungsten producer (Hunan-based, 601069.SH) and one of the world's largest primary antimony miners. Directly competes with Tibet Huayu's Tal Aluminum Gold JV on the antimony side and is the most natural pure-play antimony peer for benchmarking prices, reserves, and processing economics.
• Yunnan Tin Group: Major Chinese non-ferrous metals group listed as Yunnan Tin (000960.SZ), with tin, lead, copper, and indium mining. Comparable to Tibet Huayu as a regional Chinese diversified non-ferrous miner selling concentrates to smelters with similar B2B sales channel.
• Yintai Resources: Mid-cap Chinese gold miner (600069.SH) with operations spanning domestic and overseas regions, focused on gold concentrate production. Comparable on the gold segment and on cross-border mining expansion strategy (Belt and Road overseas assets), similar to Tibet Huayu's international gold strategy.
• Tibet Summit Resources: Tibet-based non-ferrous metals miner (600338.SH) historically focused on lead, zinc, and copper concentrates, located in the same operating environment as Tibet Huayu's Zhaxikang and Lawu mines. The most direct geographic peer with near-identical operating conditions, regulatory framework, and customer base.
• Jiangxi Copper: China's largest copper producer with integrated mining, smelting, and downstream operations listed on the SSE. Compares directly to Tibet Huayu as a domestic non-ferrous mining platform with copper exposure, mine assets in remote regions, and similar sell-to-smelter sales channels.
• Hunan Gold Corporation: China-listed gold and antimony miner (002155.SZ) with integrated gold-antimony operations in Hunan. Shares Tibet Huayu's gold-plus-antimony product mix and is one of the closest comparables for evaluating how the company's Tal Aluminum Gold JV should be valued relative to a domestic Chinese gold-antimony incumbent.
• Western Mining: Major Chinese non-ferrous metals miner (601168.SH) with diverse lead-zinc-copper-gold operations primarily in Qinghai and Tibet. Closely comparable to Tibet Huayu given its diversified multi-metal mix, mineral concentrate sales model, and operating presence on the Tibetan Plateau.
• Shenzhen Zhongjin Lingnan Nonfemet: Chinese non-ferrous metals miner and smelter (000060.SZ) with leading lead and zinc production. Directly comparable to Tibet Huayu's domestic Tibet Zhaxikang lead-zinc mine and similar B2B concentrate sales model to Chinese smelters.

Broad incumbents

• Zijin Mining: China's largest publicly-listed gold and copper miner and a major diversified base-metals producer. While Zijin operates at a vastly larger scale and with a broader commodity mix, it is the most relevant incumbent peer given its overlapping exposure to gold, copper, zinc, and cross-border mining projects in Central Asia and Africa that share Tibet Huayu's strategic metals thesis.
• China Hongqiao Group: China's largest aluminum producer (01378.HK) with vertically integrated bauxite mining, alumina refining, and aluminum smelting. Relevant as a broader incumbent in Chinese non-ferrous metals with similar domestic/overseas mining strategy and scale of operations comparable to Tibet Huayu's vertically-integrated mining model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Tibet Huayu Mining