On August 25, Zijin Mining disclosed that it had completed the acquisition of 100% equity in Guyana Gold Field. This is the second gold mine merger and acquisition completed by the company this year after the delivery of the Buritika Gold Mine in Colombia. Zijin Mining’s gold resource reserves have exceeded 2,300 tons. It has further consolidated its position in the industry as the number one gold resource reserve among domestic listed companies.
The Aurora Gold Mine in Guyana’s Goldfields is an active mine. The project has a proven + controlled gold resource of 118.69 tons with an average grade of 3.15 g/ton, and an inferred gold resource of 59.13 tons with an average grade of 2.28 g/ton. The processing plant has formed a processing capacity of 7,500 tons/day, with an average annual gold production capacity of more than 4 tons. The Guyana project team arrived in Guyana on a chartered flight that day. Previously, the project team has initially completed the preparation of mining and stripping plans for 2020 and 2021, cost reduction measures, logistics guarantee, epidemic and security prevention and control work plans, and will strive to seize the opportunity of high gold prices to resume work and production in the shortest time.
●Gold business is Zijin Mining's main source of revenue and main profit contribution point. In the first half of 2020, Zijin Mining achieved a net profit of 2.42 billion yuan attributable to its parent, and 20.24 tons of mineral gold, contributing nearly 40% of gross profit;
●The company holds a number of high-growth potential gold mines, among which the Buritika gold mine has synchronized stable production and technological transformation and expansion. After the completion of the technological transformation, the annual gold output will increase to 9.1 tons;
●ZB gold mine newly discovered by Zijin Copper in Serbia will produce 2.23 tons of gold annually after it is completed and reaches full capacity;
●The company's core production Norton Jintian, Longnan Zijin, Guizhou Zijin, etc., have reserves exceeding 100 tons through independent exploration, and are undergoing orderly technological transformation and expansion;
●With the participation of this Guyana project, the company's gold sector growth continues to increase, and the output of mineral gold is expected to achieve new breakthroughs.
