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.
Activists staged a dramatic protest outside the European Commission in Brussels, targeting the controversial EU-Mercosur trade deal....
The Hayli Gubbi volcano in north-eastern Ethiopia erupted on Sunday for the first time in over 12,000 years, before halting on Monday, according to th...
Russian President Vladimir Putin will visit Kyrgyzstan’s capital, Bishkek, from 25 to 27 November, the Kyrgyz presidency announced on Monday....
German Chancellor Friedrich Merz said on Monday that despite recent progress in discussions over a revised U.S. peace plan for Ukraine, a major diplom...
Azerbaijan has been elected to the UNESCO World Heritage Committee for the 2025 to 2029 term, securing one of the most competitive seats allocated to ...
Armenian Prime Minister Nikol Pashinyan made his first official visit to Astana, marking a significant event in bilateral relations.
At the Kazakhstan - Estonia business forum, companies from both countries signed 11 commercial agreements totalling more than $517 million.
Estonian President Alar Karis arrived in Kazakhstan on 17 November for a state visit aimed at strengthening bilateral cooperation in trade, technology, and transport, signalling a new phase in Kazakhstan’s engagement with the European Union.
Armenian Prime Minister Nikol Pashinyan will travel to Astana for an official visit from the 20th –21st November, according to the press service of Akorda.
The Hayli Gubbi volcano in north-eastern Ethiopia erupted on Sunday for the first time in over 12,000 years, before halting on Monday, according to the Toulouse Volcanic Ash Advisory Center.
The United States is preparing to launch a new round of Venezuela-related operations in the coming days, as President Donald Trump’s administration intensifies efforts to pressure President Nicolás Maduro’s government and targets what it calls Venezuela’s role in the regional drug trade.
Cameras from the United States Geological Survey (USGS) on Saturday (22 November) captured Hawaii's Kilauea volcano spewing flowing lava from its crater in its latest eruption.
Italy captured a remarkable third consecutive Davis Cup title on Sunday, with Matteo Berrettini and Flavio Cobolli securing singles victories in a 2-0 triumph over Spain in Bologna.
Several international airlines have suspended flights from Venezuela after the U.S. Federal Aviation Administration (FAA) warned of heightened military activity and deteriorating security conditions in the country’s airspace.
Azerbaijan has been elected to the UNESCO World Heritage Committee for the 2025 to 2029 term, securing one of the most competitive seats allocated to the Eastern European regional group.
The Solidarity Forum of non-governmental organizations (NGOs) from member states of the Organization of Turkic States kicks off in Baku (24 November). At Azerbaijan’s initiative as the new rotating chair of the organisation, member-country NGOs are coming together for the first time.
The first Azerbaijan–Türkiye Think Tank Forum concluded on Monday in Shusha, bringing together leading analysts, experts and academics from both countries for a day of discussions on regional politics, strategic coordination and shared foreign policy priorities.
Russia says several “unfriendly” countries approached its delegation at the G20 summit in Johannesburg with concrete proposals for economic cooperation, according to senior Kremlin official Maksim Oreshkin.
Israel killed Hezbollah’s top military official in a strike on a southern Beirut suburb, the Israeli military said, shattering a fragile truce that has struggled to hold for a year.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment