This acquisition is the Chinese mining giant’s second major gold deal this year and reinforcing its focus on Central Asia and global growth.
Zijin Mining Group Co., Ltd. continues its aggressive global expansion strategy, announcing on June 30 that its subsidiaries, Zijin Gold International and Jinha Mining (a Singapore-based subsidiary of Zijin Gold International), have made a binding offer to acquire the Raygorodok Gold Mine (RG Gold Mine) in Kazakhstan for a substantial consideration of US$1.2 billion. This landmark transaction represents Zijin Mining’s second major gold acquisition in 2025, following the successful integration of the Akyem Gold Mine in Ghana, and its eighth significant gold deal since 2020.
The proposed acquisition consideration is based on a "cash-free and debt-free" valuation as of a reference date of September 30, 2025, with final adjustments to be made based on the actual financial position on that date. This structured approach underscores the meticulous financial planning characteristic of Zijin's strategic investments.
The RG Gold Mine, a large producing asset, is strategically located in the Akmola Region of northern Kazakhstan. It comprises two open pits, the North and South pits, situated approximately two kilometers apart. The mine boasts impressive gold resources, with 241 million tonnes of indicated and inferred ore at an average gold grade of 1.01 grams per tonne, containing an estimated 242.1 tonnes of gold (based on a gold price of US2,000perounce).Furthermore,its ore reserves, based on existing designs and a gold price of $1,750 per ounce, stand at 94.9 million tonnes with a grade of 1.06 grams per tonne, holding 100.6 tonnes of gold.
Operational since 2016, the RG Gold Mine initially utilized a heap leach system to primarily process oxidized ore. A significant upgrade occurred in 2022 with the commissioning of a cyanidation plant, which employs the carbon-in-pulp (CIP) technique to process primary ore, yielding gold doré as the end product. This enhancement dramatically boosted the mine’s production capacity and profitability. The mine's robust performance is evident in its gold output: 2 tonnes in 2022, 5.9 tonnes in 2023, and 6 tonnes in 2024. Financially, the operation generated US473 million in revenue and a net profit of $202 million in 2024, showcasing its strong profitability.
Central Asia, a vital hub for the Belt and Road Initiative and a region rich in natural resources, is becoming a cornerstone of Zijin’s gold strategy. The RG Gold Mine, alongside the Jilau and Taror gold mines in Tajikistan and the Taldybulak Levoberezhny Gold Mine in Kyrgyzstan, will form Zijin’s "Gold Triangle" in Central Asia.
Zijin is a prominent global mining conglomerate deeply involved in the exploration and extraction of a diverse range of crucial metals, including copper, gold, zinc, lithium, silver, and molybdenum.
