The project encircles the Taldybulak Levoberejnyi Mine, which was recently built by Zijin and contains 3.2 million ounces in reserves and resources at a grade of 7.2 g/t.
Zijin Mining Mining News
China’s No.1 gold miner aims to sell up to 3.4 billion A shares to investors, a plan which is subject to shareholder and regulatory approval.
Rio Tinto and China's Zijin Mining are potentially the biggest investors.
Chinese and Canadian authorities have approved the Zijin's bid to buy Nevsun Resources.
The company has set up a representative office in Machala, capital of Ecuador's El Oro province, historically a gold-producing region, and will use this as a base to participate in South American projects.
The company's gold output will be flat or a little lower than last year, Zijin Chairman Chen Jinghe told Reuters on the sidelines of a conference in Tianjin.
Quarterly deal volume was up 91% to $75.7 billion from $39.6 billion in the same period last year, bucking a global trend of declines in Europe and Asia.
The government considers minerals with the "strategic" designation important for the economic, social and industrial future of the country.
“Everyone loves copper and everyone wants to buy it” has been this year’s mining mantra. Today the ball started rolling.
The Chinese gold and base metals producer will give Nevsun Cdn$6 per share in cash, trumping Lundin’s C$4.75 a share bid launched in July.
RTB Bor copper mining and smelting complex was crucial for the country before the collapse of communist Yugoslavia. However, it later became a burden on the country’s struggling economy because of malpractices and international sanctions.
Ivanhoe Mines and Zijin virtually triple hydroelectric output to support the Kamoa-Kakula Copper Project
Fresh Kakula resource estimate being prepared based on drilling completed to the end of December 2017.
Ivanhoe Mines and Zijin each hold now an indirect 39.6% interest in the Kamoa-Kakula project, thought to be Africa's most significant deposit of the red metal ever found.
Veladero could fetch more than $1 billion despite operational setbacks.
Canada’s Ivanhoe Mines and joint-venture partner Zijin Mining have transferred a further 15% interest in their Kamoa-Kakula copper project to the DRC’s government.
The potential sale of a 50% stake in Veladero mine could fetch Barrick more than $1 billion, sources familiar with the matter say.
Shares in the Vancouver-based miner soared Monday as the firm said it would likely hire an investment bank to advise the board on all strategic options.
Shares in the Canadian company were up more than 3.6% Thursday morning on the news.
Most of them have been after existing operations and companies, rather than trying to build mines from scratch.
Net profit for 2015 dropped by almost 30% to $261 million (1.7 billion yuan) from the previous year's $353 million.
The cash injection comes from selling half of its interest in the Porgera mining operation to the Chinese group last May.
The deal increases Chinese miners presence in Congo, which is Africa’s top copper producer and the world’s largest producer of cobalt.
The Chinese firm already mines gold next door to a Phoenix deposit.
Perhaps the most important aspect of today’s agreements is the fact that both aim to form long-term strategic partnerships to collaborate on further ventures, opening new markets for all the firms involved.
The deal is part of a long-term strategic cooperation agreement that will see Zijin and Barrick collaborate on future projects and joint investments.