China’s Zijin to Buy Kazakhstan Gold Mine for $1.2 Billion

Zijin Mining Group Co. is set to buy a gold mine in Kazakhstan, underscoring the Chinese company’s ambitious push to expand production of the precious metal.

China’s biggest gold and copper producer agreed to purchase the Raygorodok Gold Mine for $1.2 billion, Zijin Mining said in a filing to the Hong Kong Stock Exchange. If the deal is completed, it will be the miner’s biggest acquisition in six years.