Zijin Mining Seeks $1.5 Billion From Convertible Bonds as Gold Surges
Molten copper at the Zijin Mining Group smelting plant in Bor, Serbia.
Photographer: Oliver Bunic/BloombergZijin Mining Group Co. has raised $1.5 billion from the sale of bonds that can be converted into stock as gold trades near record highs.
The Chinese miner offered convertible bonds due 2031 at zero coupon, according to a stock-exchange filing on Friday. Zijin Mining plans to use proceeds to fund capital expenditure related to the construction of the La Arena gold mine project in Peru, as well as working capital and other general corporate purposes.