Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Starmer says UK to recognize Palestinian state if...
‘Critical’ closed-door congressional huddle focuses on growing antisemitism...
Trump’s CDC pick confirmed—but her pro-vaccine stance may...
Trump pick Emil Bove confirmed as federal judge...
From Gaza to Greenland, Macron breaks with Trump...
Schumer calls on FBI to conduct counterintelligence threat...
Biden ‘Politburo’ member Steve Ricchetti to appear before...
Trump looks to skip G20 summit in South...
Backlash against Sydney Sweeney ‘jeans/genes’ ad gets mocked...
Biden ‘Politburo’ member Steve Ricchetti appears before House...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Zijin Mining to Acquire Major Kazakh Gold Mine for US$1.2 Billion

by admin July 1, 2025
July 1, 2025
Zijin Mining to Acquire Major Kazakh Gold Mine for US$1.2 Billion

China’s Zijin Mining Group (OTC Pink:ZIJMF,HKEX:2899,SHA:601899), the country’s largest producer of gold and copper, has agreed to acquire Kazakhstan’s Raygorodok gold mine for US$1.2 billion.

The deal, announced on Monday (June 30) through a filing to the Hong Kong Stock Exchange, furthers the company’s ambition of becoming one of the world’s top three gold producers by 2028.

Raygorodok is reportedly among the largest and most technologically advanced gold projects in Central Asia. It produced 6 metric tons of gold in 2024 at a production cost of US$796 per ounce, excluding non-cash items.

With a remaining mine life of 16 years and average annual output of 5.5 metric tons of gold, Zijin expects the mine, located in Northern Kazakhstan, to boost both its earnings and production starting this year.

Raygorodok’s total ore reserves are estimated at 94.9 million metric tons, containing approximately 100.6 metric tons (3.5 million ounces) of gold, based on a gold price of US$1,750 per ounce.

However, Zijin believes that considering the current market for the yellow metal, there is clear potential to expand production and reserves by improving the pit design under a higher gold price assumption. Furthermore, a US$420 million processing plant, operational since mid-2022, has significantly expanded the mine’s output capacity.

Annual production rose from 50,000 ounces in 2023 to an expected 190,000 ounces in 2025, using carbon-in-pulp and heap-leaching technologies that improve extraction efficiency from low-grade ore. As of the end of 2024, Raygorodok reported net assets of US$291 million and posted a net profit of US$202 million on US$473 million in revenue.

The asset is currently owned by Cantech, a Kazakhstan-based firm 65 percent held by V Group International, one of the country’s largest equity investment companies, and backed by US private equity firm Resource Capital Funds.

Through its subsidiaries, Zijin Gold International and Jinha Mining, Zijin signed definitive agreements to purchase all rights and interests in RG Gold and RG Processing, the Kazakhstan-based entities that own and operate the mine.

The acquisition is expected to close by the end of September of this year, pending regulatory approvals from both Chinese and Kazakh authorities.

Zijin Gold IPO in the works

Zijin operates gold mines in China and globally in locations such as Africa and South America.

But Raygorodok is set to become one of its flagship assets, aligning with the group’s goal of raising annual gold production by 35 percent — from 73 metric tons in 2024 to 100 to 110 metric tons by 2028.

The acquisition also serves a broader corporate strategy: the planned initial public offering (IPO) of Zijin Gold International, the group’s overseas gold division, on the Hong Kong Stock Exchange.

Established in 2007, Zijin Gold International is being positioned as the vehicle for consolidating Zijin’s foreign gold assets and unlocking shareholder value. The IPO is expected to raise between US$1.5 billion and US$2 billion. Proceeds will be used for further expansion across Africa and South America.

The spinoff remains subject to approval from Chinese regulators, Zijin shareholders, the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange.

Zijin has emphasized that the listing will not affect its control over the subsidiary. Furthermore, Zijin Gold International will remain under Zijin’s consolidated financial statements post-listing.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Equity Metals
next post
Senate parliamentarian OKs ban on Planned Parenthood federal funding in Trump megabill

You may also like

Fortune Minerals Completes New Option Agreement to Acquire...

August 20, 2024

Cygnus secures another two years to increase its...

April 2, 2025

CHARBONE Hydrogen Announces a First Closing of its...

November 26, 2024

​Tech 5: Spot Ethereum ETFs Debut, Tech Stock...

July 27, 2024

Skyharbour’s JV Partner Orano Commences 6-7,000m Summer Drilling...

June 26, 2025

Coniagas Personally Invited to DRC by Madame Governor...

August 12, 2024

Is Now a Good Time to Invest in...

February 5, 2025

Group Eleven Intersects 11.8m of 11.6% Zn+Pb and...

October 22, 2024

SAGA Metals Completes Petrographic and Geophysical Analysis at...

January 13, 2025

Chinese Copper Smelters to Trim Output in Response...

July 19, 2024

Recent Posts

  • Starmer says UK to recognize Palestinian state if Israel doesn’t agree to ceasefire, Hamas must ‘disarm’
  • ‘Critical’ closed-door congressional huddle focuses on growing antisemitism in US, Mamdani’s rise
  • Trump’s CDC pick confirmed—but her pro-vaccine stance may clash with RFK Jr.’s agenda
  • Trump pick Emil Bove confirmed as federal judge after furious Democrat walkout, whistleblower complaints
  • From Gaza to Greenland, Macron breaks with Trump on global flashpoints

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (845)
    • Investing (2,651)
    • Politics (3,267)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.