Zijin Mining to acquire Raygorodok gold mine in Kazakhstan

Zijin Mining Group (HKEX:2899) announced that its wholly-owned subsidiary, Zijin Gold International, has entered into an agreement to acquire the Raygorodok Gold Mine project in Kazakhstan from Cantech S.à.r.l. The acquisition, conducted through Zijin Gold International’s subsidiary Jinha Mining, will cost approximately USD1.2 billion on a "cash-free and debt-free" basis, subject to adjustments based on the target companies' financial statements. The Raygorodok Gold Mine comprises the assets of RG Gold LLP and RG Processing LLP. According to 2024 figures, the combined entities had total assets of USD566 million and generated USD202 million in net profit. Zijin anticipates that the acquisition will meaningfully contribute to the company’s gold output and earnings. The deal is subject to customary regulatory approvals.