Zijin Mining eyes gold unit spin-off with Hong Kong listing

China’s Zijin Mining Group has announced plans to spin off its overseas gold assets under a new subsidiary, Zijin Gold International, which will seek a listing on the Hong Kong Stock Exchange.The spin-off includes mines across South America, Central Asia, Africa, and Oceania. Among them is the Buriticá gold mine in Colombia, the country’s largest, which has been the target of attacks by illegal miners.Zijin, China’s largest gold and copper producer, said the move aims to accelerate its global expansion, improve asset valuation and attract international investors. Despite being in the early stages and subject to regulatory approvals, the company believes the spin-off will strengthen its market position and increase shareholder value amid rising gold prices.Zijin Gold International will remain a subsidiary after the listing, with its financial results still included in the parent company’s consolidated statements. The timing of the planned spin-off aligns with a surge in global gold prices, which have hit record highs in April amid mounting uncertainty around US-China trade tensions. Rising prices could further drive the revaluation of its gold assets and reduce risks tied to overseas operations.The proposed listing still requires approval from Chinese regulators, shareholders, the Hong Kong Securities and Futures Commission, and the Hong Kong Stock Exchange, among others.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com