Zijin to acquire stake in Chifeng Gold

Zijin Mining’s wholly owned subsidiary Zijin Gold is acceptable to presume power of Chifeng Gold pursuing its statement to get a important shareholding.

Zijin Gold volition get 242 cardinal A shares from Chifeng Gold's largest shareholder, Li Jinyang, and Zhejiang Hanfeng, a 'concert party' of Li Jinyang, for 41.36 yuan ($6) per share.

This acquisition includes a 1.3% premium implicit the closing terms of Chifeng’s shares earlier trading was halted, amounting to astir 10bn yuan ($1.45bn) successful total.

Additionally, Zijin Gold has entered a strategical concern statement to subscribe for 311 cardinal caller H shares of Chifeng Gold nether a circumstantial mandate, for HK$30.19 ($3.85) per H share.

This represents astir 83% of the mean terms implicit the 60 days anterior to the trading suspension, with an concern totalling HK$9.38bn, equivalent to astir 8.25bn yuan.

Following these transactions, Zijin Gold’s ownership successful Chifeng volition summation to 572 cardinal shares, accounting for astir 25.85% of Chifeng's full shares post-issuance of caller H shares.

This volition assistance Zijin controlling authorization implicit Chifeng Gold and let for the consolidation of the latter’s fiscal statements into the group's records.

The transactions received support during the ninth word of the committee successful 2026 and are not categorised arsenic connected transactions oregon important plus restructurings; hence, shareholder support is not mandatory.

However, these transactions are contingent upon fulfilling definite precedent conditions and impact inherent concern risks.

Chifeng Gold presently operates six golden mines and 1 polymetallic excavation crossed China, South East Asia and West Africa.

Its reported resources see 583t of golden with an mean people of 1.54 grams per tonne, alongside copper, zinc (lead), molybdenum and uncommon earths resources, arsenic per its 2025 yearly report.

In January this year, Zijin Gold signed a definitive statement to get each issued and outstanding shares successful Canadian institution Allied Gold for an equity worth of astir C$5.5bn ($4.01bn), successful an all-cash deal.

"Zijin to get involvement successful Chifeng Gold" was primitively created and published by Mining Technology, a GlobalData owned brand.

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