Verny Capital to Exit RG Gold Through Sale to Zijin Mining
Deal News | Jun 30, 2025 | PR Newswire Cision Verny Capital LLP
Verny Capital Group has announced an agreement to sell its gold mining asset, RG Gold, to Zijin Gold International, a subsidiary of Zijin Mining Group Co. Ltd. Verny Capital has been managing RG Gold since 2014, during which time it has significantly developed the site's production capabilities. The strategic partner since 2018 has been Resource Capital Funds (RCF), a U.S.-based private equity firm, who together with Verny Capital has tripled RG Gold's resource base. Zijin Mining, with a market capitalization of approximately USD 70 billion, operates globally with a portfolio of over 30 projects across 17 countries. The sale of RG Gold marks an entry into the Kazakhstani market for Zijin, which plans to contribute to local economic growth with sustainable and innovative practices. The transaction was advised by investment banks J.P. Morgan Securities and BMO Capital Markets, along with law firm Herbert Smith Freehills. Verny Capital's CEO, Aidan Akanov, highlighted the success of developing RG Gold into a leading national producer as part of their business strategy to capitalize on market opportunities. RG Gold has also substantially contributed to Kazakhstan's economy and social development, notably through tax contributions and job creation.
Sectors
- Mining
- Private Equity
Geography
- Kazakhstan – The agreement involves RG Gold, a company based in Kazakhstan, and the article repeatedly highlights the economic impact on the Kazakhstani market.
- China – Zijin Mining Group, the acquiring company, is a major Chinese mining corporation.
- United States – The strategic partner in the development of RG Gold is Resource Capital Funds, a U.S.-based private equity manager.
Industry
- Mining – The article focuses on the sale of a gold mining company, RG Gold, and mentions the involvement of a global mining corporation, Zijin Mining Group.
- Private Equity – Verny Capital and RCF, both involved in the transaction, are examples of private equity firms engaging in asset management and sales.
Financials
- USD 70 billion – Market capitalization of Zijin Mining Group.
- 424 million – Cost of the gold processing plant commissioned by RG Gold in 2022.
- 160 billion tenge – Total tax contributions made by RG Gold to Kazakhstan's state budget.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| RG Gold | Target company | Company | A gold mining company in Kazakhstan being sold by Verny Capital. |
| Verny Capital | Selling Company | Company | A private equity group managing RG Gold since 2014, now selling it. |
| Zijin Mining Group Co. Ltd. | Bidding Company | Company | The Chinese mining corporation acquiring RG Gold. |
| Resource Capital Funds (RCF) | Other Company | Company | A U.S.-based private equity firm and strategic partner in the development of RG Gold. |
| J.P. Morgan Securities plc | Corporate Finance | Company | Advised Verny Capital and RCF on the transaction. |
| BMO Capital Markets | Corporate Finance | Company | Advised Verny Capital and RCF on the transaction. |
| Herbert Smith Freehills | Legal advisor | Company | A leading law firm advising on the transaction. |