Zijin Mining to acquire Raygorodok gold mine for USD 1.2bn

Zijin Mining Group Co., Ltd. (SSE:601899) announced it will acquire the Raygorodok gold mine project in Kazakhstan for USD 1.2 billion. The deal will be executed through its subsidiary, Zijin Gold International, and its Singaporean subsidiary, JinHa Mining, which entered into an agreement with Cantech S.à.r.l to acquire 100% equity in RG Gold LLP (RGG) and RG Processing LLP (RGP), collectively owning the mine. The acquisition, based on a September 30, 2025 benchmark date, will be adjusted for cash, working capital, and debt positions. The Raygorodok mine boasts resources of 242.1 tonnes of gold (averaging 1.01 g/t) within 2.41 billion tonnes of ore. The mine produced 6 tonnes of gold in 2024, with cash costs of USD 796 per ounce (excluding heap leaching). The acquisition is expected to immediately contribute to Zijin's gold production and bolster its presence in Central Asia.