Hong Kong, September 4, 2025 — Zijin Mining Group is preparing to spin off its international gold-mining arm through a blockbuster initial public offering (IPO) in Hong Kong that could raise more than US$3 billion, sources familiar with the matter told Bloomberg. If realised, the listing would rank as the world’s most significant IPO since CATL’s $5.3 billion debut in May.
Set for possible launch as early as this month, the offering has drawn intense investor sentiment, buoyed by soaring gold prices nearing historic highs. Despite the excitement, deal specifics—including its final size and timing—remain under negotiation.
Zijin, China’s largest gold producer, generated 73 tonnes of gold in 2024, with 60% sourced from overseas operations. The company anticipates ramping production to 100–110 tonnes by 2028, utilizing fresh capital from the IPO to fuel expansion and global acquisitions.
Meanwhile, Hong Kong’s IPO market is enjoying a banner year, thanks in part to strong inflows from Chinese issuers. Total proceeds are on track to exceed US$26 billion, driven by pent-up demand and favorable listing conditions.
