In a landmark move further cementing its position among the world’s largest gold producers, Zijin Mining Group Co., Ltd. has announced that its wholly-owned subsidiary, Zijin Gold International Company Limited, along with Jinha (Singapore) Mining Pte. Ltd., has signed a binding agreement to acquire 100% of RG Gold LLP and RG Processing LLP from Luxembourg-based Cantech S.à.r.l. The deal, valued at approximately USD 1.2 billion on a cash-free, debt-free basis, will grant Zijin ownership of the Raygorodok Gold Mine in Kazakhstan — one of the nation’s most significant gold assets.
The agreement, finalized on June 29, 2025 (Beijing time), sets an economic date for completion as September 30, 2025, with a final consideration to be adjusted to reflect cash, working capital, and financial debt on the economic date.
“The acquisition of the Raygorodok Gold Mine marks a major milestone for Zijin as we continue our global expansion,” commented Chen Jinghe, Chairman of Zijin Mining. “Kazakhstan is a resource-rich country with a supportive mining climate, and Raygorodok represents an exceptional, long-life, low-cost asset that complements our strategy to grow high-quality gold resources globally.”
Located in northern Kazakhstan, the Raygorodok Gold Mine is a large-scale, high-grade open-pit operation with significant remaining reserves and excellent exploration upside. RG Gold LLP and RG Processing LLP have built modern processing infrastructure at site, positioning the mine for continued expansion and cost efficiencies.
Cantech, which has owned and developed the Raygorodok project over the past decade, expressed confidence in Zijin as a strong new steward for the asset. “We believe Zijin’s operational excellence and financial strength will unlock Raygorodok’s full potential for many years to come,” stated Pierre Lemaitre, CEO of Cantech S.à.r.l. “Their commitment to environmental stewardship and community development aligns with the values we have upheld in Kazakhstan.”
Industry analysts have described the move as a logical step in Zijin’s strategy to secure world-class gold assets, building on its successful track record of overseas acquisitions in Serbia, Papua New Guinea, and Colombia. The transaction also supports Zijin Gold International’s broader growth objectives ahead of its proposed listing on the Hong Kong Stock Exchange.
Kazakhstan, a mining-friendly jurisdiction with vast mineral wealth, has increasingly attracted global investors looking to diversify their gold portfolios. Raygorodok’s established production, robust resource base, and potential for further discoveries made it an appealing target for Zijin as it seeks to solidify its global production pipeline.
The parties anticipate closing the deal later this year, subject to customary regulatory approvals and satisfaction of conditions precedent. Upon completion, Zijin is expected to integrate Raygorodok into its global operations seamlessly, leveraging its technical and financial resources to enhance output and drive future exploration.
“Our vision is to build Raygorodok into a flagship asset within our international portfolio,” added Chen Jinghe. “We are excited to work with the local workforce and communities to deliver sustainable benefits across the region.”
For the global gold sector, Zijin’s $1.2 billion play in Kazakhstan underscores an enduring appetite for high-quality gold assets as gold producers position for long-term growth.
