China’s leading gold and copper producer, Zijin Mining, has announced a $1.2 billion deal to acquire one of Kazakhstan’s largest gold mines — the Raygorodok Gold Mine — marking a significant expansion of its overseas resource portfolio.
According to the statement released Monday, Zijin’s subsidiaries Zijin Gold International and Jinha Mining have reached an agreement to purchase the full mining and processing operations from RG Gold LLP and RG Processing LLP, the Kazakh firms currently operating the site. The acquisition includes both the mine itself and associated processing plant assets.
This strategic move comes amid a surge in global gold prices, driven by escalating U.S.-China trade tensions and increased investor appetite for safe-haven assets. It also complements Zijin’s broader ambitions: the company previously announced plans to spin off Zijin Gold International and list it on the Hong Kong Stock Exchange to streamline and boost the value of its international gold operations.
The Raygorodok acquisition reinforces China’s ongoing push to secure overseas supplies of key resources. Kazakhstan, rich in precious and critical minerals, has become a major focus for Chinese mining investment, particularly under Beijing’s Belt and Road Initiative.
