Zijin Gold International is preparing for a major Hong Kong IPO aiming to raise over US$3 billion, positioning it as the city's second-largest listing this year. As the overseas arm of China’s Zijin Mining, the company manages eight mines across South America, Central Asia, Africa, and Oceania, operating as a vertically integrated entity. Between 2022 and 2024, the firm achieved a 21% compound growth in output, the fastest globally among major gold miners. This expansion coincides with gold prices hitting record highs, which helped the company more than double its net profit in 2024 despite a modest 5.7% increase in sales volume. While the listing offers investors a strategic proxy for rising bullion prices and access to a high-growth acquisition pipeline, potential risks include gold price volatility and operational disruptions, such as recent armed attacks and illegal mining activities at its Colombian sites.
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