Chinese company Zijin Gold International, managing gold assets Zijin Mining group outside China announced the redistribution of funds received during the September IPO. Then $3.637 billion was raised. Part of this money will now go to the development of the Raigorodok field in the Akmola region.
It was initially assumed that $1.215 billion would be spent on the acquisition of RG Gold (the owner of Raygorodok). However, the actual cost of the transaction was 1.001 billion, which saved 214 million. It was decided to invest the released money in geological exploration of all the group’s assets.
In addition, the IPO prospectus stated that half of the funds would be used to modernize and expand existing mines, without specifying the projects. Now the structure of these investments has become known: $742 million will be directed to the Ghanaian Akyem field, 480 million to the Surinamese Rosebel, and 600 million to the Kazakh Raygorodok. All funds must be disbursed by December 2027.
It was previously reported that Raygorodok is considered by the company as one of the key growth drivers. Already in 2026 production at the field should reach about 6.4 tons of gold. After expanding processing capacity from the current 6 to 16 million tons of ore per year, production could increase to approximately 11 tons annually. It is also planned to build a mining and hydrometallurgical complex with a capacity of 600 thousand tons of ore per year.
At the same time, the company intends to intensify geological exploration – both within the boundaries of the existing quarry and in the adjacent Sharyk and Novodneprovskoye areas. This will increase the resource base and ensure stable production for many years.
Thus, the allocated $600 million will likely be used specifically to expand processing capacities, build a new hydrometallurgical complex and develop new ore zones. And the saved $214 million will be used for geological exploration at all enterprises of the group.
Source: @finmentorkz
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