Yesterday, Zijin Mining Group Co. Ltd. (Zijin) completed the acquisition of Rosebel Goldmines N.V. (RGM), which it had previously announced in October 2022. The majority of the requirements outlined in the Share Purchase Agreement have been fulfilled in order to settle the share transfer. With the transaction now complete, Zijin currently holds 100% of the Class B shares and 95% of the Class A shares of RGM through its subsidiary Silver Source Group Ltd.
From February through December of this year, the business is still expecting to produce about 6.1 tons of gold. The Rosebel Gold Mine Project’s overall mineral resource estimate is 196 million tons at an average grade of 1.11 g/t Au for 6.992 million ounces of gold, encompassing 12 deposits and low-quality ore heaps (approximately 217 tons). Four of those deposits each contain more than a million ounces.
The gold metal reserves total 3.829 million ounces of gold metal (or about 119 tons), with an average quality of 1.09 g/t Au. They are spread across seven deposits and low-grade ores. The project will likely require an expenditure of US$ 570 million in total. When the project reaches its specified production capacity, its average annual gold output volume is anticipated to be 10.17 metric tons.
The global exploration and development of gold, copper, zinc, and other minerals, as well as related refining, processing, trading, and other activities, are all part of the multinational mining group Zijin’s business. Its initiatives and activities span 14 international locations in Europe, Central Asia, Africa, Oceania, and South America in addition to 15 provinces in the People’s Republic of China (PRC). One of the biggest Chinese mining corporations, it stands out for its enormous domestic and global deposits of copper and gold as well as its production.
