Wanguo International Mining Group

What Wanguo International Mining Group does

Wanguo International Mining Group is a Cayman Islands-incorporated, Hong Kong-listed (03939.HK) mining company whose principal operations are conducted through its wholly-owned PRC subsidiary Yifeng Wanguo Mining Co., Ltd., established in Yifeng County, Jiangxi Province in 2003. The group's core business is the underground mining, ore-dressing processing, and sale of mineral concentrates, with copper concentrate and iron concentrate from the Xinzhuang Mine as its flagship commercial products; the Xinzhuang mining license runs until April 2032 over a 3.7692 sq km concession with approved underground output of 600,000 tons/year and a planned expansion to 900,000 tons/year. Revenue is generated one-time through direct sales of these concentrates to industrial metal buyers and steel manufacturers in China, with marketing and sales handled by an Executive Director-led direct B2B channel and pricing not publicly disclosed.

The company's technology stack centers on integrated underground mining and mineral processing systems; it holds an award-winning (China Nonferrous Metals Industry Science and Technology Award, Second Prize, 2012) proprietary safe-mining method for complex water-rich ore bodies and was recognized as a National High-Tech Enterprise in 2018. Geographic and commodity diversification has been a deliberate strategy: in 2017 the group paid AUD 58.35 million for 61.1% of Xiangfu Jinling Limited, gaining effective 55% control of the Gold Ridge gold mine in the Solomon Islands (commercial production began December 2022); a 2013 framework agreement targets 51% of Tibet Changdu Dadi Mining Company for access to lead (over 1 million tons) and silver (over 1,100 tons); and a wholly-owned Australian subsidiary was established for exploration activity, including cooperation with CSD Mining's SPM area.

The group is led by founder, Chairman, and CEO Gao Mingqing (in role since November 2003), supported by Executive Directors including Liu Zhichun (marketing and sales), Wang Renxiang (Gold Ridge operations), and Wang Nan (Gold Ridge finance). Reporting entities span a Cayman Islands holding company, Hong Kong office for investor relations, mainland Chinese operating subsidiary, and Australian and Solomon Islands operating entities. Headcount is 501-1,000 employees. The group's go-to-market is enterprise/field sales to industrial customers, supplemented by multilingual investor-relations communications, participation in international mining conferences, and a 2025 cornerstone investment in Merdeka Gold Resources' Hong Kong IPO (HK$2.4 billion raise) signaling active capital deployment in the gold sector.

Name

Wanguo International Mining Group

Legal name

万国国际矿业集团有限公司

Website

https://wgmine.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Wanguo International Mining Group (03939.HK) is a Hong Kong-listed Chinese mining company that operates the Xinzhuang copper, lead, zinc, and iron mine in Jiangxi Province and the Gold Ridge gold mine in the Solomon Islands, selling mineral concentrates directly to Chinese steel and metals manufacturers via direct B2B sales channels.

Ownership category

akta.pro rank

Product category

Mineral Concentrate Mining

NAICS

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

SIC

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

akta.pro industry

PRIMARYIMAKADAB

Copper Ore Mining (Open-Pit & Underground)

Industrials, Manufacturing & Construction/Metals & Mining/Copper Mining & Smelting/Refining

SECONDARYIMAKAEAA

Gold Mining

Industrials, Manufacturing & Construction/Metals & Mining/Precious Metals Mining & Refining (Gold, Silver, Platinum Group)

Keywords

• Copper concentrate mining
• Iron ore extraction
• Mineral concentrate processing
• Underground mining operations
• Non-ferrous metals production

Headquarters

HQ city

Jiangxi

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Concentrate Sales: The company's primary revenue is generated from mining ore, processing it through ore dressing facilities, and selling mineral concentrates. Copper concentrate and iron concentrate are the core commercial products. Revenue comes from direct sales of these concentrates to customers in the steel and metals industries.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels3 records

Core offering

Wanguo International Mining Group engages in underground mining, ore dressing/mineral processing, and sale of concentrate products, with copper concentrate and iron concentrate from the Xinzhuang Mine in Jiangxi, China as its core commercial products. The group has expanded internationally with gold production from the Gold Ridge Mine in the Solomon Islands and holds an interest in a lead-silver project in Tibet. The Xinzhuang mining license is valid until April 2032 and permits underground mining at a rate of 600,000 tons per year of copper, lead, zinc, and iron ore.

Product overview

Wanguo International Mining Group is a traditional mining company engaged in mining, ore processing, and sales of concentrate products. Its core products are copper concentrate and iron concentrate. The company operates the Xin Zhuang Mine in Yifeng County, Jiangxi Province, China, producing copper, lead, zinc, and iron minerals, and holds an interest in the Gold Ridge Gold Mine in the Solomon Islands. The company also holds a framework agreement to acquire a 51% stake in the Tibet Changdu lead-silver mine project.

Differentiator

Problem solved

Functional benefit

Products and services

• Copper Concentrate Copper concentrate produced by underground mining and ore dressing at the Xinzhuang Mine, sold as a refined mineral product to downstream industrial customers in the steel and metals industries.
• Iron Concentrate Iron concentrate produced by underground mining and ore processing at the Xinzhuang Mine, sold to downstream industrial customers in the steel and metals industries.
• Gold Production from Gold Ridge Mine Gold produced from the Gold Ridge gold mine in the Solomon Islands, developed through the acquisition of Xiangfu Jinling Limited and operated via Gold Ridge Mining Limited; Wanguo holds an effective 55% attributable interest.
• Xinzhuang Mine Operations (Copper, Lead, Zinc, Iron) Integrated underground mining operation at the Xinzhuang Mine in Yifeng County, Jiangxi Province, China, covering 3.7692 square kilometers and producing copper, lead, zinc, and iron ores for processing into mineral concentrates.
• Tibet Changdu Lead-Silver Mine Project Lead and silver mine project in Changdu County, Tibet Autonomous Region, China, with a prospecting permit covering the Waleage lead mining area of approximately 21.87 square kilometers; held through a 51% equity interest framework agreement.

Quantifiable outcome

• Mining capacity planned to increase from 600,000 tons/year to 900,000 tons/year through expansion.
• +1 more outcomes

Segments1 record

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

Five partnerships are on record, tiered minor and core.

• Xinhua Lianhe Group (新华联集团)minorStrategic or Co-development Partner · 5 January 2019In January 2019, Wanguo International Mining Group's Chairman Gao Mingqing and Xinhua Lianhe Group's Chairman Fu Jun conducted a joint field inspection of the Gold Ridge gold mine project in Solomon Islands, meeting with Prime Minister Rick Houheniliga.
• Xiangfu Resources Limited (祥符资源有限公司)coreStrategic or Co-development Partner · 16 July 2017On July 16, 2017, the company signed a share purchase agreement to acquire 61.1% equity in Xiangfu Jinling Limited for AUD 58.35 million, with an additional commitment of up to AUD 50 million for reconstruction works and management maintenance. This acquisition gave the company effective 55% interest in the Gold Ridge gold mine in Solomon Islands.
• Goldridge Community Investment Limited (GCIL)coreStrategic or Co-development Partner · 16 July 2017Local land owners of the Gold Ridge mine hold a 10% interest through GCIL, while Xiangfu Jinling holds the remaining 90%. This partnership structure is part of the unprecedented cooperation arrangement for the Gold Ridge mine restart in Solomon Islands.
• CSD Mining Company (澳大利亚CSD矿业公司)minorStrategic or Co-development Partner · 13 August 2015In August 2015, Chairman Gao Mingqing and a delegation visited the CSD Mining Company's SPM mining area in Queensland, Australia to inspect ore dressing plants, mining areas, and joint exploration areas. The companies are cooperating on geological exploration of the SPM mining area.
• Dadi Mining Company (西藏昌都昌都县炟地矿业有限公司)minorStrategic or Co-development Partner · 30 October 2013A framework agreement was signed on October 26, 2013 for the possible acquisition of 51% equity in Dadi Mining Company, which holds a prospecting permit for the Waleage lead mining area in Changdu County, Tibet. Lead reserves exceed 1 million tons and silver exceeds 1,100 tons.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Regional players

• Jiangxi Copper Company: China's largest integrated copper producer, headquartered in Jiangxi Province — the same province as Wanguo's flagship Xinzhuang mine. Directly comparable in copper exposure and regional operating environment.
• Solomon Islands Gold Operations (historical: St Barbara / Gold Ridge Community Investment): St Barbara (former operator of Gold Ridge) and the local landowner vehicle GCIL are the most direct comparables for Wanguo's Solomon Islands gold mine, sharing the same asset and stakeholder structure.

Direct peers

• MMG Limited: Hong Kong-listed base metals miner (copper, zinc, lead) with operations in multiple jurisdictions including Australia, DRC and Peru. Closely comparable in product mix (copper/zinc/lead concentrates), HKEX listing, and multi-jurisdictional mining exposure.
• Yunnan Tin Group: Chinese nonferrous metals miner with significant tin and polymetallic concentrate production. Comparable as a Chinese-listed/non-listed polymetallic miner with underground mining operations.
• China Nonferrous Mining Corporation Limited: Hong Kong-listed Chinese nonferrous metals miner producing copper and cobalt cathodes and concentrates. Closely comparable in HKEX listing, Chinese copper mining heritage, and product mix involving copper concentrates.
• Tongling Nonferrous Metals Group: Chinese state-owned nonferrous miner producing copper, lead, zinc and other concentrates. Directly comparable in product mix and Chinese state-affiliated operating environment.
• Shenzhen Zhongjin Lingnan Nonfemet: Chinese nonferrous metals producer focused on zinc, lead and copper. Comparable as a Chinese polymetallic concentrate producer with both domestic and overseas mining exposure.

Broad incumbents

• China Hongqiao Group: Large Hong Kong-listed Chinese metals producer. While primarily aluminum, it provides a reference point for HK-listed Chinese miners of comparable scale and is an adjacent comparable for industrial concentrate supply to Chinese metals end-users.
• Zijin Mining Group: Major Chinese gold and copper miner listed in Hong Kong and Shanghai. Operates polymetallic mines domestically and internationally, with a far broader portfolio and scale than Wanguo, but is the most directly comparable Chinese miner producing copper and gold concentrates.

Emerging players

• PT Merdeka Gold Resources: Indonesian gold miner in which Wanguo Gold Group is a cornerstone investor. Comparable as a Hong Kong-listed emerging gold producer with similar geographic risk profile (Southeast Asia / Pacific) to Wanguo's Solomon Islands operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/wanguo-international-mining-group-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

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 Wanguo International Mining Group