Since 2018, Verny Capital’s partner in the project has been the American investment company Resource Capital Funds (RCF). Together, they have increased production capacity and introduced modern technologies. Over the past ten years, RG Gold’s resource base has tripled, reaching 7.6 million ounces in accordance with the international JORC standard.
The new owner of RG Gold will be Zijin Gold International, a subsidiary of Zijin Mining Group, one of the world’s largest mining corporations. The company operates more than 30 projects in 17 countries and has a market capitalization of approximately $70 billion. In Kazakhstan, Zijin plans to develop mining with a focus on environmental sustainability and innovation, as well as job creation.
Leading international investment banks JP Morgan Securities plc and BMO Capital Markets, along with the law firm Herbert Smith Freehills, acted as advisors to Verny Capital and RCF in the transaction.
“We managed to implement a unique project, transforming a small production facility into the country’s leading gold mining enterprise. Now, ten years later, we plan to transfer it to a major international player with an impressive track record in managing mining assets. This reflects Verny Capital’s standard business model—developing an asset and selling it under optimal market conditions. We are now looking for new, potentially successful investment opportunities. We see strong prospects for developing successful projects in Kazakhstan and would like to be part of them,” said Aidan Akanov, CEO of the Verny Capital Group.
In 2022, under Verny Capital’s management, RG Gold launched a $424 million gold recovery plant, enabling it to significantly increase production volumes.
“Investing in RG Gold was our first project in Kazakhstan, and we are proud to have contributed to the successful growth of one of the country’s leading enterprises. We are sincerely grateful to our strategic partner, Verny Capital Group, with whom we have realized this success story. We also welcome the entry of such a major international company as Zijin Mining Group into the Kazakh market, as this confirms Kazakhstan’s long-term investment appeal as a reliable partner for businesses and investors,” said Martin Valdez, Partner at RCF.
Over the course of its operations, the company has become one of the largest taxpayers in the country, having contributed more than 160 billion tenge to the national budget and created approximately 1,200 jobs. It also implements initiatives to support local communities and develop regional infrastructure.
