Zijin Longjing Subsidiary Plans to Build Solar-Storage Projects in Suriname and Guyana
On September 23, Zijin Longjing Clean Energy, a subsidiary of Zijin Longjing (600388.SH), announced board approval for three solar-plus-storage projects at gold mines in Suriname and Guyana, totaling approximately $232 million. The largest is the $150 million Phase II project at Suriname's Rosebel Gold Mine (170 MWp solar, 120 MW/120 MWh storage). Two projects at Guyana's Aurora Gold Mine total $81.86 million. The projects aim to reduce diesel consumption at remote mining operations.
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Common ground
- The project reduces diesel dependency and cuts carbon emissions, which is a real benefit for Suriname.
- The 38.8% diesel displacement is a meaningful improvement over relying entirely on diesel.
- Chinese companies are actually building clean energy infrastructure in the Global South while Western nations struggle with their own climate commitments.
- The geopolitical timing gives China a competitive advantage in global energy transitions.
Points of contention
- Eastern Agent sees the project as a sovereignty breakthrough, while Neutral Agent views it as a financial hedge with limited independence.
- Eastern Agent argues there are no political strings attached, but Neutral Agent points to vendor lock-in through Chinese hardware and standards.
- Eastern Agent trusts that Phase II will be funded based on past Chinese projects, while Neutral Agent says promises are cheap and delivery is uncertain.
- Eastern Agent claims local workforce training is a proven model, while Neutral Agent questions the ratio of local hires to Chinese expats in technical roles.
Blind spots
- Neither side fully addressed the electricity pricing structure—whether the mine pays a fixed rate or a diesel-linked rate—which determines true sovereignty gains.
- The grid integration angle was missed: excess solar power could feed into Suriname's national grid, changing the project's economics entirely.
- The social impact on diesel supply chain workers who may lose jobs was not thoroughly discussed, including retraining programs.
WorldAttention’s read
This Zijin Longking project in Suriname is a net positive: it cuts diesel use by nearly 39%, lowers costs, and reduces emissions, while Chinese firms deliver on climate goals faster than Western nations. However, it's not a sovereignty revolution—it swaps diesel dependency for hardware dependency on Chinese equipment, with real switching costs and unanswered questions about pricing and grid integration. The project is a smart operational upgrade and a financial hedge, not a complete energy independence breakthrough. Both sides agree it's better than diesel, but disagree on whether it's a model for partnership or just a different kind of cage.
Reporting timeline
Zijin Longjing Plans $150M Solar-Plus-Storage Project for Suriname Gold Mine
On September 23, Zijin Longjing Clean Energy, a wholly-owned subsidiary of Zijin Longjing (600388.SH), announced plans to invest in and build the second phase of a solar-plus-storage project for the Rosebel Gold Mine in Suriname. The project will have a capacity of 170 MWp solar photovoltaic and 120 MW/120 MWh energy storage, with a total investment of approximately $150 million, to be self-funded by the company. The announcement states that Suriname is actively promoting green and low-carbon development and providing policy support including simplified project filing, green electricity trading, and carbon emission reduction accounting. The project is described as a green, low-carbon distributed new energy project aligned with Suriname's energy transition and industrial energy-saving goals. It aims to replace about 38.8% of diesel generator consumption at the Rosebel and Saramacca mining areas, significantly reducing production electricity costs and mitigating risks from volatile international energy prices and geopolitical disruptions affecting diesel costs.
Read sourceZijin Longking Unit Plans $150M Solar-Storage Project in Suriname Gold Mine
According to a report from People's Financial News on September 23, Zijin Longking Clean Energy Co., Ltd., a wholly-owned subsidiary of Zijin Longking, plans to invest in the construction of the second phase solar-plus-storage project at the Rosebel Gold Mine in Suriname. The project will have a capacity of 170 MWp solar photovoltaic and 120 MW/120 MWh energy storage, with a total investment of approximately $150 million. Additionally, the company plans to invest in two solar-storage projects at the Aurora Gold Mine in Guyana: an underground mining plant project with 45 MWp solar and 50 MW/100 MWh storage ($55.24 million), and a third-phase processing plant project with 15 MWp solar and 20 MW/80 MWh storage ($26.62 million). The information was sourced from the Securities Times.
Read sourceZijin Longking Invests $150M in Suriname Rosebel Gold Mine Phase II Solar-Storage Project
Zijin Longking Clean Energy Co., Ltd. (600388.SH) announced on September 23 an additional investment of approximately $150 million for the Phase II solar-plus-storage project at the Rosebel Gold Mine in northern Suriname. The mine, operated by a 95%-owned subsidiary of Zijin Mining Group, currently consumes about 270 million kWh annually, but demand is expected to rise to 640 million kWh following mill expansion and new mining truck charging facilities. Phase I, a 25 MWp solar and 12.5 MW/25 MWh storage system, was approved and is scheduled to begin operations in December 2025. Phase II will add 170 MWp of solar capacity and 120 MW/120 MWh of storage, along with a 161 kV substation and transmission lines. The total gold resource at the Rosebel and Saramacca矿区 is approximately 360 tonnes.
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Zijin Longjing to invest over $232 million in two South American gold mine solar-storage projects
Zijin Longjing (600388), a Chinese clean energy and environmental engineering firm, announced on September 23 that its board approved three overseas solar-plus-storage projects in South America, totaling approximately $232 million. The projects are located at the Aurora gold mine in Guyana (two projects: a third-phase plant and an underground mine) and the Rosebel gold mine in Suriname (second phase). The company aims to reduce diesel consumption at these remote mines, with projected completion in Q4 2027 for the Guyana projects and Q3 2027 for the Suriname project. The largest project, in Suriname, has a 170MWp solar and 120MW/120MWh storage capacity and a $150 million investment. The company noted that the projects are subject to overseas investment approval and that timelines and output are estimates. In the first half of the year, Zijin Longjing reported revenue of 5.384 billion yuan (up 14.96%) and net profit of 557 million yuan (up 25.02%).
Read sourceZijin Longjing Subsidiary Plans to Build Solar-Storage Projects in Suriname and Guyana
According to a September 23 announcement by Zijin Longjing (600388), its wholly-owned subsidiary Zijin Longjing Clean Energy Co., Ltd. plans to invest in and construct the Suriname Rosebel Gold Mine Phase II solar-plus-storage project. The project will have a capacity of 170 MWp solar photovoltaic plus 120 MW/120 MWh energy storage, with a total investment of approximately $150 million. Additionally, the subsidiary plans to invest in two projects at the Aurora Gold Mine in Guyana: an underground mining plant solar-storage project (45 MWp solar + 50 MW/100 MWh storage, $55.24 million) and a processing plant Phase III solar-storage project (15 MWp solar + 20 MW/80 MWh storage, $26.62 million). The announcement was reported by People's Financial News on September 23.
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