MINING REFINING

China's Zijin Mining eyes gold unit spin-off and listing

Wed April 30 2025

China's Zijin Mining said on Wednesday it plans to spin off its unit, Zijin Gold International, and list it on the Hong Kong bourse as part of a reorganization of its overseas gold assets.

This involves mines located in South America, Central Asia, Africa and Oceania, including the Buritica project in Colombia, the nation's largest gold mine, which faced an attack by illegal miners in late January.

After the spin-off and listing, Zijin Gold will continue to be a subsidiary, with the timing of the process coinciding with the upward cycle of gold prices and potentially reducing overseas operational risks, the statement said.

Gold prices have surged to record highs in April ever since uncertainty has increased over the economic impact of US-China trade tensions, spurring demand for the safe-haven bullion.

"The proposed spin-off and listing is still in the preliminary planning stage," the firm added. 

Source: https://www.miningweekly.com/