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Updated · Bloomberg · May 11Zhaojin Mining plans gold mine acquisitions across Africa, Central Asia and Asia Pacific
10 articles · Updated · Bloomberg · May 11
- Chief Investment Officer Xu Jianzhuo said the Shandong-based miner is targeting West African assets in Cote d’Ivoire, Ghana and Guinea.
- The company is focusing on jurisdictions it sees as politically stable and on projects becoming available as European and US miners exit.
- The move reflects intensifying merger and acquisition activity in gold mining as Chinese producers seek overseas growth and broader reserves.
As Western miners exit Africa, are Chinese firms buying strategic assets or just inheriting high-risk liabilities? Is China's global gold mine buying spree a corporate strategy or a geopolitical move to dethrone the U.S. dollar? Will Ghana's new royalty hikes capture more value, or will they simply drive massive investment to its neighbors?