In a significant move to bolster its global gold production capacity, China’s leading gold and copper producer, Zijin Mining, has announced the acquisition of Kazakhstan’s Raygorodok Gold Mine for $1.2 billion. This strategic acquisition underscores Zijin’s ambition to expand its footprint in the global mining sector and enhance its position in the burgeoning gold market.
Details of the Acquisition
The acquisition agreement, finalized on June 29, 2025, involves Zijin Gold International, a wholly-owned subsidiary of Zijin Mining, and Jinha Mining, a subsidiary of Zijin Gold. The deal entails the purchase of 100% stakes in RG Gold LLP and RG Processing LLP, the entities that own and operate the Raygorodok gold deposit project in Kazakhstan. The transaction is expected to close by September 30, 2025, subject to regulatory approvals, including antitrust clearance
The Raygorodok mine, located in the Akmola region of northern Kazakhstan, is one of the country’s largest gold deposits. It boasts estimated JORC-compliant gold reserves of 108 metric tonnes, with an annual production capacity exceeding 6,000 kilograms. The mine’s processing facility has a throughput capacity of 5 million tonnes of ore per year, positioning it as a significant asset in Zijin’s portfolio .
Strategic Rationale
Zijin Mining’s decision to acquire the Raygorodok Gold Mine aligns with its broader strategy to become one of the world’s top three gold producers by 2028, up from its current position as the sixth-largest. The acquisition is expected to increase Zijin’s gold reserves and output, significantly enhancing the asset scale, profit level, and global industry position of Zijin Gold International. This move also supports the planned listing of Zijin Gold International on the Hong Kong Stock Exchange, aimed at unlocking greater value for shareholders and promoting the company’s international growth .
Implications for Kazakhstan
For Kazakhstan, the acquisition represents a significant development in its mining sector. The deal is expected to generate approximately 1,000 jobs and contribute to the growth of small and medium-sized enterprises in the region. The acquisition also aligns with Kazakhstan’s efforts to attract foreign investment and develop its mineral resource base, as highlighted by Bauyrzhan Aitkulov, Head of Projects at KAZAKH INVEST, who emphasized the high potential of cooperation between Kazakhstan and Zijin Mining .
Zijin Mining’s acquisition of the Raygorodok Gold Mine marks a pivotal moment in the company’s expansion strategy and underscores the growing importance of Kazakhstan’s mining sector on the global stage. As Zijin continues to integrate the Raygorodok mine into its operations, the deal is poised to enhance the company’s competitive edge in the global gold market and contribute to the economic development of Kazakhstan.
