AXMIN Inc (TSXV: AXM)
AXMIN Inc. (TSXV:AXM) is a Canadian-based exploration and development company with a strong focus on central and West Africa.
China’s largest gold–copper producer, Zijin Mining Group Co., Ltd., announced it has agreed to acquire the Raygorodok gold mine in Kazakhstan for US $1.2 billion. The deal, pending customary antitrust and regulatory approvals, is set to significantly bolster Zijin’s asset base and earnings profile amid a sustained rally in global gold prices.
Key Transaction Details
Financial Snapshot of Raygorodok
Project Overview
Raygorodok comprises two primary assets—mining rights held by RG Gold LLP and processing facilities under RG Processing LLP—valid through December 31, 2040, plus six additional exploration permits. The deposit contains two adjacent ore bodies (North and South), with measured and indicated resources totaling 241 million tonnes at an average grade of 1.01 g/t gold, equivalent to approximately 242 tonnes of contained metal.
Since its founding as a gold-mining enterprise, Zijin has grown into China’s top producer, with gold operations contributing roughly 50 % of sales revenue and 30 % of gross profit. In 2024, the company produced 73 tonnes of mined gold (up 7.8 % year-on-year) and secured nearly 4,000 tonnes of global gold resources—ranking sixth worldwide. Recent overseas acquisitions include Ghana’s Akyem gold project (announced 2024) and 100 % interests in Peru’s La Arena mine and Phase II expansion.
By integrating Raygorodok—one of Kazakhstan’s largest undeveloped gold deposits—Zijin expects to enhance production scale, diversify its geographical footprint, and capture upside from elevated metal prices. The transaction underscores Zijin’s commitment to deploying capital in high-quality assets to drive long-term growth and shareholder value.
The agreement remains subject to antitrust clearance in Kazakhstan and other regulatory approvals. Upon closing, Zijin will begin detailed integration planning with a view to optimizing mine development and processing operations.
