By Martin Mou

Zijin Mining Group Co. said Monday it plans to acquire a 50.1% equity interest in Julong Copper in Tibet.

Zijin, a major copper-and-gold miner in China, plans to pay 3.88 billion yuan ($547.9 million) for the stake in Julong Copper, it said.

The transaction will help raise supply capacity, Zijin said.

Write to Martin Mou at martin.mou@wsj.com