Zijin Mining provides $30 million loan to Guyana Goldfields to finance operations of Aurora gold mine

In June 2020, Zijin Mining Group Co., Limited announced that it would acquire Guyana Goldfields Inc. As a part of the acquisition, Zijin Mining Group Co., Limited agreed to provide Guyana Goldfields with a $30 million loan facility to finance the ongoing operations of the Aurora gold mine and to fund other liquidity needs. Zijin’s chairperson, Chen Jinghe, said the group believed the mine was a high-quality gold asset, with significant potential to profit.

Additional details

1. Zijin Mining Group Co., Limited is a multi-national mining company headquartered in Mainland China. It is a Shanghai Stock Exchange and Hong Kong Stock Exchange listed mining company principally engaged in the prospecting, exploration, and mining of gold, copper, and other mineral resources with operations in 11 countries. Its largest shareholder Shanghang Minxi Xinghang State-Owned Property Investment Company, which holds 24% of Zijin, is owned by the government of Shanghang County, Fujian Province, where Zijin's head office is located. Zijin is one of the largest gold, copper and zinc producers in China. 2. Guyana Goldfields was a Canadian company that owned and operated the Aurora gold mine in Guyana. Before being acquired by Zijin Mining in 2020, Guyana Goldfields was a publicly traded company with shares listed on the Toronto Stock Exchange and previously TSX Venture Exchange.

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