Zijin Mining

Zijin Mining Group is one of the largest Chinese gold producers in China, and operates the Zijinshan Gold Mine. It paid US$240 million for control of Australia’s Norton Gold in 2012.

Struggling Australian gold miners eye outside backers

Gold miners in Australia are writing down assets and scrambling for cash. Photo: EPA

Australia’s Alacer Gold said it expects to receive bids within a month to sell two gold mines, in a sign that merger activity in the sector may be starting to stir after a slump in bullion prices.

Wednesday, 7 August, 2013, 2:46pm

Zijin eyes acquisitions amid depressed mining shares

Gold prices have risen over the past two years, while gold miners' shares have tumbled. Photo: AFP

Zijin Mining aims to complete one or two acquisitions this year and warned that the unit production cost at its mainstay gold mine will continue to rise owing to the deteriorating grade of ore.

Fujian province-based Zijin, the mainland's largest gold producer, sees acquisition opportunities arising as stock market valuations of firms in the industry remain depressed.

29 Mar 2013 - 4:16am

Business Digest, February 19, 2013

Zijin profit falls for first time since listing

Oil and gas major China Petroleum & Chemical (Sinopec) says it is weighing the potential acquisition of oil and gas assets owned by parent China Petrochemical Corp. 

19 Feb 2013 - 6:20am

Losing its shine

Losing its shine

Zijin Mining Group chairman Chen Jinghe addresses a briefing after China's largest gold producer reported a disappointing first-half net profit of 2.38 billion yuan (HK$2.91 billion). Photo: May Tse

14 Aug 2012 - 9:39am

Zijin agrees deal to buy Australia's Norton Gold

Shares in Zijin Mining Group, China's biggest gold producer by value, jumped yesterday after it unveiled an agreement to increase its stake in an Australian gold mine.

The Fujian-based mining company said on Thursday night that it had agreed to buy the shares of Norton Gold Fields it did not already own for about A$180.3 million (HK$1.36 billion).

2 Jun 2012 - 12:00am

Concerns grow over Zijin management after deaths at acid plant

Zijin Mining, the mainland's biggest gold miner, saw its share price tumble as much as 7 per cent after it announced its third operational crisis in 19 months, renewing concerns about its management.

31 Jan 2012 - 12:00am

Zijin budgets 5b yuan for foreign acquisitions

Zijin Mining Group, China's largest gold producer by output, whose war chest has been bolstered by a recent bond issue, has budgeted 5 billion yuan (HK$6.06 billion) to acquire overseas assets.

The privately owned firm raised US$480 million last month from the issue of bonds backed by a standby letter of credit from Bank of China.

11 Aug 2011 - 12:00am

Zijin has golden year despite pollution woes

Gold miner Zijin Mining Group, which was embroiled in a major pollution incident last year, says its net profit rose 36 per cent, thanks to higher prices for the precious metal.

1 Apr 2011 - 12:00am

Boost for gold miners after 'golden week'

Shares in two mainland gold mining companies rose yesterday as they played catch-up with international prices following a break in trading.

Shares in one of the companies, China's biggest gold producer Zijin Mining, were also buoyed by news that it will pay less damages than expected for a toxic spill in Fujian in July.

9 Oct 2010 - 12:00am

Prompt action welcome after toxic leaks at mine

A bad smell comes from the river. Tonnes of fish die from toxicity in the water. The copper mine on the nearby mountainside run by the nation's biggest gold miner says little. A familiar pattern is repeating itself.

22 Jul 2010 - 12:00am

Gold miner may have covered up other spills

The nation's largest gold producer, Zijin Mining Group, could have covered up toxic chemical spills in Fujian for more than a month - much longer than it has admitted, mainland media reported yesterday.

16 Jul 2010 - 12:00am

Zijin Mining probed over disclosure breach

Zijin Mining Group, China's largest gold miner and third-largest copper producer, is being investigated by the China Securities Regulatory Commission in relation to 'the violation of law and regulations of information disclosure'.

30 Mar 2010 - 12:00am

Move into safe-haven assets lifts gold stocks in a declining market

Mainland gold stocks rose yesterday, bucking a decline in the broader market, on the back of a surge in precious metal prices as investors moved into safe-haven assets such as government bonds and gold.

New York gold June futures rose 2.3 per cent on Monday to US$887.50 an ounce. It rose further to US$890.40 in early London trade yesterday.

22 Apr 2009 - 12:00am

Zijin to spend 4b yuan on capacity expansion

Zijin Mining Group, the mainland's largest listed gold miner by market value, plans to spend about 4 billion yuan (HK$4.54 billion) to expand mining and smelting capacity this year, after reporting a less than expected 20.1 per cent gain in net profit for last year.

24 Mar 2009 - 12:00am

Village head jailed for Yunnan ore-rights riot

A Yunnan village head has been jailed for four years for leading a deadly riot against land seizures in April when the county government sided with big business to exploit local mineral resources.

25 Nov 2008 - 12:00am