Baiyin Nonferrous

Baiyin Nonferrous Group Co., Ltd. (Chinese: 白银有色集团股份有限公司), also known as BNMC, is a major Chinese state-owned enterprise involved in the mining, smelting, and processing of nonferrous metals, including copper, lead, zinc, silver, and gold. Headquartered in Baiyin, Gansu Province, the company is a key player in China's nonferrous metals industry and has significantly expanded its global footprint in recent years.

Baiyin Nonferrous Group Co., Ltd.

Trade name	BNMC
Native name	白银有色集团股份有限公司
Romanized name	báiyín yǒusè jítuán gǔfèn yǒuxiàn gōngsī
Company type	State-owned enterprise
Traded as	SSE: 601212
Industry	Nonferrous metals
Predecessor	Baiyin Nonferrous Metal Corporation
Founded	November 24, 2008 (2008-11-24)
Headquarters	No.96, Youhao Road, Baiyin, Gansu , China
Area served	Worldwide
Products	Copper, Zinc, Lead, Silver, Gold
Revenue	CN¥86.97 billion (2023)[1]
Net income	CN¥83.06 million (2023)[1]
Website	Official website

Corporate affairs

As of 2017, the company's major shareholders included:^[2]

• Gansu Provincial People's Government – 36.16%
• CITIC Guoan Group – 32.27%
• Ruiyuan (Shanghai) Investment Fund – 11.47%
• China Cinda Asset Management – 5.38%
• CITIC Group – 2.81%

History

The company's predecessor, Baiyin Nonferrous Metal Corporation, was founded in 1954 as one of the major industrial projects of the First Five-Year Plan.^[3] It became China’s primary copper supplier, although the main copper mine in Baiyin was depleted and shut down in 1988.^[4]

The company was formally incorporated in 2008 and listed on the Shanghai Stock Exchange in 2017 under the ticker symbol SSE: 601212. It was ranked 116th in the Fortune China 500 list in 2017.^[5]

Operations

BNMC engages in the mining, refining, and trading of nonferrous metals, with operations in China and overseas.

Domestic Operations

Baiyin Nonferrous operates major mining and smelting facilities in Baiyin, Gansu Province, which historically served as China's primary copper production base. It has expanded its domestic presence to other provinces, focusing on lead, zinc, silver, and gold production.

Africa

BNMC has significantly expanded in Africa:

• In March 2019, BNMC acquired a 29.6% stake in Gold One Group Limited (South Africa) from the China-Africa Development Fund for approximately CNY 2.2 billion.^[6]

• Through its subsidiary, Baiyin International Investment, the company also acquired the Twangiza Mine in the Democratic Republic of the Congo from Banro Corporation in 2020 after Banro filed for bankruptcy. The acquisition price was nominal, due to operational disruptions and liabilities.

South America

In April 2025, BNMC acquired Mineração Vale Verde (MVV) from Appian Capital Advisory for US$420 million. MVV operates the Serrote copper-gold mine in Alagoas, Brazil. This acquisition marked BNMC’s entry into the South American market.^[7]