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.
Authorities in Azerbaijan have launched an investigation into the Baku office of Sputnik Azerbaijan over claims it continued operations illegally afte...
The French Riviera town of Cannes will restrict large cruise ships from docking starting from January 2026, as part of new efforts to manage over tour...
As U.S. President Donald Trump’s tariff threats shake confidence in the American market, as investors increasingly turn to Europe, drawn by its rela...
The European Council has extended its sectoral sanctions on Russia until January 31, 2026, in response to Russia’s continued destabilising actions i...
Temperatures are reaching at least 40 degrees Celsius or more on the last day of June in southern Europe with countries issuing health and environment...
China’s leading gold and copper producer, Zijin Mining, announced on Monday that it has agreed to acquire Kazakhstan’s Raygorodok Gold Mine in a $1.2 billion transaction, marking one of the largest foreign investments in the Central Asian country's mining sector.
China’s Defence Minister Dong Jun has urged member states of the Shanghai Cooperation Organization (SCO) to push back collectively against what he called “hegemonic behaviour”, as defence ministers met for their annual summit in the eastern Chinese city of Qingdao.
Kazakhstan will create six new nature conservation institutions to preserve biodiversity, aiming to increase protected territories to 12.5% of the national area.
Kazakhstan’s industrial sector grew by 6.4% year-on-year in the first five months of 2025, driven by increased oil production and strong performance in manufacturing, according to Halyk Finance.
Iran launched 18 ballistic missiles late Sunday targeting the U.S. military’s Al-Udeid Air Base in Qatar, the largest American installation in the Middle East.
The U.S. economy faces a 40% risk of recession in the second half of 2025, JP Morgan analysts said on Wednesday, citing rising tariffs and stagflation concerns.
China has ramped up efforts to protect communities impacted by flood control measures, introducing stronger compensation policies and direct aid from the central government.
Severe rain in Venezuela has caused rivers to overflow and triggered landslides, sweeping away homes and collapsing a highway bridge, with five states affected and no casualties reported so far.
A malfunction in the radar transmission system at the Area Control Center in Milan suspended more than 300 flights at the weekend, across northwest Italy since Saturday evening according to Italy's air traffic controller Enav (National Agency for Flight Assistance).
Armenian Foreign Minister Ararat Mirzoyan will not attend the meeting of the Collective Security Treaty Organization (CSTO) Foreign Ministers Council scheduled for Monday in Kyrgyzstan, according to a statement from Armenia’s Foreign Ministry.
The Kremlin on Sunday voiced regret over Azerbaijan's reaction to the recent arrests of several Azerbaijani nationals in Russia’s Yekaterinburg region, after a controversial police operation tied to a decades-old criminal case sparked diplomatic tension between the two countries.
Armenia says it is ready to discuss the place and date for signing a peace agreement with Azerbaijan, according to Foreign Minister Ararat Mirzoyan.
China’s leading gold and copper producer, Zijin Mining, announced on Monday that it has agreed to acquire Kazakhstan’s Raygorodok Gold Mine in a $1.2 billion transaction, marking one of the largest foreign investments in the Central Asian country's mining sector.
Türkiye and Syria have signed a new memorandum of understanding on international road transport, setting the stage for the resumption of direct overland trade between the two nations.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment