Fitch affirms Zijin Mining

Fitch Ratings said it affirmed Zijin Mining Group Co., Ltd.'s long-term issuer default rating and senior unsecured rating at BBB-. The outlook is stable.

“Zijin's ratings are supported by its well-diversified portfolio of precious and base metals, low cost positions, high-quality assets with long mine life, and strong cash-flow generation,” the agency said in a news release.

“Zijin's ratings are constrained by its higher and more volatile leverage compared to peers, which is a result of overseas acquisitions and increased capex for expanding its copper mining business.”

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