Core Viewpoint - Zijin Mining has successfully completed the acquisition of 100% equity in the Raygorodok gold mine in Kazakhstan, which is expected to significantly support the company's gold production targets for 2028 [1][2]. Group 1: Acquisition Details - The acquisition was finalized on October 10, 2025, after all conditions precedent were met or waived [1]. - The purchase price for the acquisition was set at $1.2 billion (approximately 8.6 billion RMB), based on the target company's "cash-free, debt-free" principle as of September 30, 2025 [2][5]. Group 2: Production and Financial Performance - The Raygorodok gold mine is projected to produce an average of 6 tons of gold annually from 2023 to 2024, contributing to Zijin Mining's goal of 100-110 tons of gold production by 2028 [1]. - Zijin Gold International, a subsidiary of Zijin Mining, is expected to achieve a gold production of 1.3 million ounces (approximately 40.4 tons) in 2024, ranking 11th globally [3]. - The company reported a revenue of $2.99 billion, with gold revenue accounting for 94.9% of total income [3]. - From 2022 to 2024, the compound annual growth rate (CAGR) of gold production is projected to be 21.4%, making it the fastest-growing among the top fifteen gold mining companies globally [3]. Group 3: Market Context - The global gold market has seen significant price increases, with gold prices reaching historical highs, including a spot price exceeding $4,000 per ounce on October 8 [3]. - Goldman Sachs has raised its gold price forecast for December 2026 to $4,900 per ounce, anticipating continued net purchases of gold by central banks in emerging markets [3]. Group 4: Company Background - Zijin Gold International was established in 2007, focusing on gold exploration, mining, processing, and sales [3]. - The company has expanded its operational gold mines to nine following the acquisition of the Raygorodok mine [1]. - On September 30, 2025, Zijin Gold International was listed on the Hong Kong Stock Exchange, raising nearly 25 billion RMB and achieving a market capitalization exceeding 310 billion HKD [7].