Verny Capital Group and its strategic partner, the U.S.-based investment fund Resource Capital Funds (RCF), have completed the sale of RG Gold to Zijin Gold International Co. Ltd., a subsidiary of Zijin Mining Group Co. Ltd.
With a market capitalization exceeding USD 100 billion, Zijin Mining Group is currently the third-largest mining company in the world. Over the past thirty years since its establishment, the company has built a strong reputation as a responsible natural resource developer and a global leader in technological innovation.
Under the management of Verny Capital and RCF, RG Gold’s production capacity has been significantly expanded. The introduction of modern equipment has improved production efficiency and safety while reducing operational costs. Since 2014, the company’s resource base has tripled, now reaching 7.6 million ounces under the JORC standard.
“We take great pride in having transformed RG Gold, together with our partners, into one of Kazakhstan’s leading gold producers, built on the principles of efficiency, innovation, and sustainability. Having received all necessary regulatory approvals, we have successfully completed the transaction, marking a new chapter in the company’s and the industry’s development. We are confident that Zijin Mining Group’s entry into the Kazakh market will bring cutting-edge technologies and raise the standards of responsible mining,”
— said Aidan Akanov, CEO of Verny Capital Group.
RG Gold continues to demonstrate consistently strong production results and makes a significant contribution to Kazakhstan’s economy and social development. Over the years, the company has become one of the largest taxpayers in the country, contributing more than KZT 160 billion to the state budget. RG Gold has also created around 1,200 jobs and actively implements social initiatives aimed at supporting local communities, developing infrastructure, and improving the quality of life in the region.
“We believe that the presence of a global company such as Zijin Mining Group will open new opportunities for the further technological and sustainable development of Kazakhstan’s mining sector. It will strengthen the country’s position as an attractive destination for responsible mining investments. We would like to once again thank our partner, Verny Capital Group, for years of productive and professional collaboration,”
— said Martin Valdes, Partner at RCF.
J.P. Morgan Securities plc, BMO Capital Markets, and Herbert Smith Freehills acted as financial and legal advisors to Verny Capital and RCF in the transaction.
