Chinese Zijin Mining to Acquire South America's Largest Gold Mine, Rosebel Mine

Tzjin Mining to Acquire Rosebel Mine in Suriname
China Moves to Secure Rare Minerals... Tzjin Mining Likely to Carry Out Mission

China Zijin Mining announced that it plans to produce gold by acquiring the Rosebel Mine. The photo is not related to the specific content of the article.

[Asia Economy Culture Young Intern Reporter] China's Zijin Mining is set to acquire the Rosebel mine in Suriname, the largest gold mine in South America.

On the 19th (local time), according to the Chinese economic media Caixin, Zijin Mining announced plans to purchase the Rosebel mine stake held by Canadian company IAMGOLD for $360 million (approximately 510 billion KRW).

Zijin Mining stated that it can extract 217 tons of gold-related metals from the Rosebel mine, enabling an average annual production of 8.6 tons of gold over 12 years.

In recent years, Zijin Mining has been involved in a dispute with Australia's AVZ Minerals over a lithium mine in Manono, southeastern Democratic Republic of Congo.

Manono prospered through cassiterite mining until the Democratic Republic of Congo gained independence from Belgium in 1960, after which it declined. However, in 2018, a lithium deposit of 400 million tons was confirmed. In relation to this, Zijin Mining holds 100% of the joint venture Daskom Mining and is mining lithium under the Manono project name.

AVZ Minerals, which owns 60% of Daskom Mining, announced that it purchased a 15% stake from the local Cominiere, which holds 25%. However, there is a dispute as claims have emerged that this stake was actually sold to Zijin Mining.

China is focusing on securing rare minerals, including gold mines and rare earth elements in Africa, and Zijin Mining is known as one of the companies carrying out this mission.

This content was produced with the assistance of AI translation services.