Chinese company Zijin Mining acquires major gold deposit in Kazakhstan for $1.2 billion

Chinese mining giant Zijin Mining is set to acquire Kazakhstan’s Raihorodok gold deposit for $1.2 billion, a move that will transfer control of RG Gold and could significantly boost Kazakhstan’s annual gold production, pending regulatory approval.

Chinese mining corporation Zijin Mining has announced its intention to acquire one of Kazakhstan’s largest gold deposits - Raihorodok, located in the Akmola region. The relevant application has already been submitted to the Hong Kong Stock Exchange, and the purchase agreement was reached on June 29. The deal is valued at $1.2 billion.

As a result of the transaction, control of RG Gold, the company developing the deposit, will transfer from the Kazakhstani firm Cantech to Zijin Mining’s Singapore-based subsidiary, Jinha Mining. However, the finalisation of the deal remains subject to approval by Kazakhstan’s national regulatory authorities.


As a result of the transaction, control of RG Gold, the company developing the deposit, will transfer from the Kazakhstani firm Cantech to Zijin Mining’s Singapore-based subsidiary, Jinha Mining. However, the finalisation of the deal remains subject to approval by Kazakhstan’s national regulatory authorities.


According to the international JORC classification, the gold reserves at the Raihorodok deposit are estimated at 100 tons. This makes it the third-largest gold deposit in the country and one of Kazakhstan’s largest single-source gold deposits. Currently, the annual gold production volume is approximately 5.5 tons, but there are plans to increase this output to 10 tons per year, which would significantly boost the region’s production capacity.


According to Bloomberg, this transaction will be Zijin Mining’s largest acquisition in six years. Through acquiring Raihorodok, the company aims to increase its total annual gold production to 110 tons by 2028, strengthening its position in the global precious metals market.


Zijin Mining Group is one of the world’s largest mining companies, specialising in gold and non-ferrous metals extraction and processing. The company’s market capitalisation is estimated at around $70 billion. Zijin Mining operates more than 30 projects across 17 countries. The company is committed to sustainable growth, environmental responsibility, innovative solutions, and the implementation of “green” technologies.

Zijin Mining plans to introduce the best international practices upon entering the Kazakhstani market. Experts believe this will contribute to the country’s economic development, attract investment, and create new jobs in the region. It is worth noting that as of the end of April 2025, Kazakhstan’s gross international reserves stood at $52.4 billion.

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