Verny Capital Agrees to Sell RG Gold to Global Mining Leader
Deal News | Jul 01, 2025 | PR Newswire Cision Verny Capital LLP
Verny Capital Group, a well-known investment firm based in Kazakhstan, has signed an agreement to sell RG Gold, a gold mining operation it has managed since 2014, to Zijin Gold International, a subsidiary of China's Zijin Mining Group Co. Ltd. Since acquiring RG Gold, Verny Capital has significantly invested in modernizing and expanding the mine's facilities, tripling its resources to 7.6 million ounces. Verny Capital partnered with U.S.-based Resource Capital Funds (RCF) in 2018 to boost production capacity and implement advanced technologies. This successful development prompted the sale to Zijin, marking the mining giant's entry into the Kazakhstani market. Verny Capital aims to pursue new investment opportunities in Kazakhstan, recognizing its potential for high-performing projects. Zijin Mining leverages global best practices and aims to contribute to Kazakhstan’s economic growth and job creation. The transaction was advised by prominent financial and legal institutions like J.P. Morgan Securities, BMO Capital Markets, and Herbert Smith Freehills. RG Gold's social and economic contributions to Kazakhstan highlighted its importance, making it one of the country's leading gold producers and tax contributors.
Sectors
- Mining
- Private Equity
Geography
- Kazakhstan – The sale of RG Gold occurs in Kazakhstan, and the article highlights the country's economic and social landscape.
- China – Zijin Mining Group, the purchasing entity, is a major Chinese mining company entering the Kazakhstani market.
- United States – Resource Capital Funds, the strategic partner in the development of RG Gold, is a U.S.-based private equity firm.
Industry
- Mining – The core focus of the article is the gold mining sector, involving the acquisition of a gold mining company.
- Private Equity – Verny Capital and Resource Capital Funds, both private equity firms, are key players in the article, focusing on their investment strategies and asset sales.
Financials
- 424 million USD – Investment cost for the new gold processing plant commissioned by RG Gold in 2022.
- 160 billion Tenges – Taxes paid by RG Gold to the state budget of Kazakhstan.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Verny Capital Group | Selling Company | Company | An investment firm that developed RG Gold and has sold it to Zijin Mining. |
| RG Gold | Target Company | Company | A gold mining operation in Kazakhstan being sold to Zijin Mining. |
| Zijin Gold International | Bidding Company | Company | A subsidiary of Zijin Mining Group Co. Ltd., acquiring RG Gold. |
| Zijin Mining Group Co. Ltd | Other Company | Company | The parent company of Zijin Gold International, specializing in mining and processing. |
| Resource Capital Funds (RCF) | Strategic Partner | Company | A U.S.-based private equity fund involved in the development of RG Gold. |
| J.P. Morgan Securities plc | Financial Advisor | Company | Provided financial advisory services for the deal. |
| BMO Capital Markets | Financial Advisor | Company | Co-advised on the financial aspects of the transaction. |
| Herbert Smith Freehills | Legal Advisor | Company | Provided legal advice for the transaction. |
| Aidan Akanov | CEO | Person | CEO of Verny Capital Group, provided comments on the transaction. |
| Martin Valdes | Partner | Person | Partner at Resource Capital Funds, expressed views on the partnership with RG Gold. |