Zijin Mining Announces $2.5B Acquisition of Chifeng Gold
Mining News | 2026-03-23 11:38:23 | By Paul Ploumis
The acquisition significantly expands Zijin’s resource base, adding producing assets across China, Laos, and Ghana.
SEATTLE (Scrap Monster): Zijin Mining Group Co., Ltd. has announced a major acquisition to strengthen its global gold portfolio, agreeing to acquire a controlling stake in Chifeng Jilong Gold Mining Co., Ltd. through a combination of A-share purchases and H-share subscription.
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The total transaction is valued at approximately RMB18.26 billion. Through its subsidiary Zijin Gold, the company will acquire 241.9 million A shares at RMB41.36 per share and subscribe to 310.9 million new H shares at HKD30.19 each. Upon completion, Zijin will hold about 25.85% of Chifeng Gold, gaining controlling interest and consolidating it into its financials.
The acquisition significantly expands Zijin’s resource base, adding producing assets across China, Laos, and Ghana. Chifeng Gold holds 583 tonnes of gold resources and operates key mines, including the Sepon Mine in Laos and Wassa Mine in Ghana.
Chifeng Gold reported strong financial growth, with 2025 revenue of RMB12.64 billion and net profit of RMB3.08 billion. Zijin aims to unlock further value through advanced exploration technologies.
The deal remains subject to regulatory approvals, with completion risks tied to commodity price volatility and operational costs.