On June 30, Zijin Mining announced its subsidiary, Zijin Gold International, along with Jinha Mining (Zijin Gold International’s subsidiary in Singapore), has made an offer to acquire the Raygorodok Gold Mine in Kazakhstan for US$1.2 billion. This acquisition is part of Zijin Mining’s global growth strategy and marks its second gold deal in 2025 following the acquisition of the Akyem Gold Mine in Ghana.
The transaction is based on a “cash-free and debt-free” valuation as of September 30, 2025, with final adjustments to be determined by actual financials on that date.
Located in Kazakhstan’s Akmola Region, the RG Gold Mine comprises two open pits approximately two kilometers apart. The mine holds 241 million tonnes of ore at an average gold grade of 1.01 grams per tonne, containing 242.1 tonnes of gold. Ore reserves are estimated at 94.9 million tonnes with a gold grade of 1.06 grams per tonne, containing 100.6 tonnes of gold.
The RG Gold Mine began production in 2016 using a heap leach system for oxidized ore processing. In 2022, a cyanidation plant was commissioned to process primary ore using the carbon-in-pulp technique, producing gold doré and enhancing production capacity and profitability. From 2022 to 2024, the mine produced increasing amounts of gold annually and generated significant revenue and net profit in 2024.
Zijin believes that current gold prices present strong potential for pit optimization at the RG Gold Mine to improve resource extraction within the open pits. The company anticipates further expansions may be possible.
Zijin’s acquisitions have demonstrated its ability to unlock value through its Five-Pronged Mining Engineering Model, which enhances mineral resources at newly acquired mines and expands production capacity.
The RG Gold Mine is expected to have a remaining mine life until 2040 with an average annual production of approximately 5.5 tonnes of gold. Preliminary studies suggest that pit optimization could increase mining and processing capacity to 10 million tonnes per annum.
This acquisition strengthens Zijin’s global portfolio and intra-group synergy as it aims to produce between 100 and 110 tonnes of mined gold by 2028. Central Asia remains a strategic focus for Zijin as it enhances its presence in resource-rich regions under the Belt and Road Initiative.
