The Chinese company Zijin Mining has applied to the Hong Kong Stock Exchange with a proposal to purchase the Raygorodok gold deposit located in the Akmola region of Kazakhstan. This is reported by Sputnik.
According to the information provided by the company, the agreement was reached on June 29. The value of the transaction will be $ 1.2 billion.
Jinha Mining, which is a division of Zijin Mining, will take control of RG Gold, which is engaged in the development of the deposit.
According to the information contained in the document, this transaction must be approved by national regulatory authorities.
According to the information provided by RG Gold, the gold reserves at the deposit are estimated at 100 tons. This makes it the third largest in Kazakhstan.
About 5.5 tons of gold are mined annually from the deposit. However, there is a potential to increase production to 10 tons, as noted in RG Gold.
According to Bloomberg, the deal with Zijin Mining will be the largest for the company in the last six years. As a result, it will be able to increase annual gold production to 110 tons by 2028.
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