ZIJIN MINING (02899.HK): Completes Acquisition of Chifeng Gold A Shares and H-Share Subscription, Holding 25.85%

NewTimeSpace News: On 22 October 2026, Zijin Mining Group Co., Ltd. (the "Company") announced that it referred to its announcement dated 22 March 2026 on the proposed acquisition of control over Chifeng Jilong Gold Mining Co., Ltd. ("Chifeng Gold") by acquiring A shares by agreement and subscribing for H shares in a private placement, and its announcement dated 28 September 2026 on the signing of a supplemental agreement in respect of the acquisition of control over Chifeng Gold.

The announcement disclosed that on 22 October 2026, Zijin Gold (Group) Co., Ltd. ("Zijin Gold"), a wholly-owned subsidiary of the Company, received the Confirmation of Securities Transfer Registration issued by China Securities Depository and Clearing Corporation Limited, confirming that the 241,925,746 A shares of Chifeng Gold held in aggregate by Ms. Li Jinyang, the former controlling shareholder and actual controller of Chifeng Gold, and her concert party Zhejiang Hanfeng Venture Capital Partnership (Limited Partnership), had been fully transferred and registered under the name of Zijin Gold. On the same day, with the approval of the Listing Committee of the Stock Exchange, the 310,902,731 H shares of Chifeng Gold privately placed with Zijin Gold were also issued and completed. As at the date of the announcement, together with the 18,833,400 shares of Chifeng Gold already held by other wholly-owned subsidiaries of the Company before the transaction, the Company holds through its wholly-owned subsidiaries an aggregate of 571,661,877 shares of Chifeng Gold, representing 25.85% of its current total number of shares. Zijin Gold has become the controlling shareholder of Chifeng Gold and the Company has obtained control over Chifeng Gold.

The Company stated that it considers that, against the backdrop of rising global geopolitical uncertainty, growing resource nationalism and high debt levels in some major economies, the scarcity and investment value of high-quality producing gold mines are becoming increasingly prominent; by obtaining control over Chifeng Gold, the Company has successfully acquired a portfolio of producing gold mines with favourable metallogenic conditions and excellent resource endowment, and the transaction represents a new footprint for the Company in an important gold metallogenic belt, which will effectively increase its gold resource reserves, raise its gold output scale and continuously consolidate its position and influence in the global gold industry. Following completion, the Company will promptly promote the re-election of the board of Chifeng Gold and deepen synergies in all respects; leveraging its technical strengths in geological exploration and deep-seated ore prospecting, the Company will fully support Chifeng Gold in advancing systematic exploration to further increase resources and reserves and expand room for reserve growth, while introducing the Company's full-process mining engineering management model to systematically optimise the production operations and cost control of Chifeng Gold's projects.