雪球·2025-04-13 04:07Core Viewpoint - The investment capability of Zijin Mining has become the most important driving factor for its development, combining technology, management, and investment ability, enhanced by its private mechanism and state-owned enterprise credibility [3]. Group 1: Acquisitions Overview - Since 2020, Zijin Mining has made significant acquisitions in the mining sector, including: - In 2020, Zijin acquired 100% of Guyana Goldfields for CAD 323 million (approximately RMB 1.699 billion), with a resource reserve of about 178 tons of gold [5]. - In 2020, Zijin acquired 50.1% of Jilong Copper for approximately RMB 3.883 billion, with a recorded copper metal amount of 10.72 million tons [5]. - In 2021, Zijin acquired Canadian Lithium Company for CAD 960 million, focusing on the 3Q salt lake project in Argentina [6]. - In 2022, Zijin invested RMB 4 billion to acquire 30% of Ruihai Mining, which holds 100% of the Haiyu Gold Mine, the largest single gold mine in China [7]. - In 2023, Zijin completed the acquisition of the Rosebel Gold Mine, one of the largest and most cost-effective gold mines globally [11]. Group 2: Future Investment Plans - For 2024, Zijin plans to invest USD 1 billion (approximately RMB 707.1 million) to acquire 100% of the Akyem Gold Mine in Ghana, which has a gold resource of 54.4 tons [13]. - Zijin also plans to acquire 100% of La Arena Copper Mine in Peru for USD 245 million, with additional payments contingent on future production [13]. - In 2025, Zijin intends to acquire control of Zangge Mining for RMB 13.7 billion, enhancing its domestic mineral resource portfolio [14]. Group 3: Capital Raising Activities - In 2024, Zijin's subsidiary signed a share subscription agreement to invest approximately CAD 129.6 million (about RMB 690 million) in Solaris Resources, becoming the second-largest shareholder [15]. - Zijin also participated in private placements, including an investment of CAD 57.3 million (approximately RMB 300 million) in Montage Gold, acquiring 9.9% of the company [15]. - In September 2024, Zijin agreed to subscribe for shares in Wan Guo Gold Group for a total consideration of HKD 1.3794 billion (approximately RMB 1.249 billion) [16].