Chinese company reports half-year earnings of over US$200M from Guyana gold mine

Aug 28, 2025 News

An aerial view of the Aurora Gold Mine located in Region Seven (Cuyuni-Mazaruni)

Kaieteur News – Zijin Mining Group Co. Ltd, a Chinese-state owned mining giant operating in Guyana, through its subsidiary AGM Inc. has reported earnings of RMB1.4789 billion (over US$200million) from its Aurora Gold Mine in Guyana for the first half of 2025.

This information was revealed in the company’s interim half-year report published on Tuesday. According to the company’s interim report the Aurora Gold Mine total asset is pegged at RMB4.5287 billion. “Aurora Gold Mine…Operating income for the reporting period is RMB 1.47893,” the report further states.

It was also disclosed in the report that the Aurora Gold Mine produced 2,039 kilograms (over 71,000 ounces) of gold in the first-half of 2025. The company said Aurora’s output formed part of the 41,186 kilograms of gold produced across its projects worldwide. Zijin noted that the gold output recorded during the reporting period is a 16% increase compared to the same period last year. Zijin also noted that a technological upgrade was carried out at the Guyana gold mine.

The Aurora gold project is wholly-owned by AGM and is located in Region Seven (Cuyuni-Mazaruni). Aurora is Guyana’s only large-scale gold project currently in production. The mine holds estimated reserves close to 184 tonnes of gold (183,809 kg), or approximately six million ounces of gold.

While the project is already in production, AGM has also embarked on expanding the project. The mining and processing methods used at the project includes open-pit mining, underground mining, gravity separation and cyanide leaching.

According to AGM, the gold mine has a processing capacity of 10,000 tonnes per day and is currently building its Phase 1 underground mine. Upon reaching nameplate capacity, the project will achieve an annual gold production capacity of more than 4 tonnes.

Zijin Mining Group’s presence spans across 17 provincial-level regions in China and encompasses operations in 15 countries worldwide, including Guyana. Their foothold in Guyana’s mining landscape was solidified in August 2020 when they acquired the largest gold mines operation in the country from Canadian-owned AGM for a substantial sum of US$238 million.

The Aurora gold project was originally developed by Guyana Goldfields sprawling across an extensive area of 12 square kilometers or 2,965 acres.

While Aurora is currently the only-large scale gold producer in Guyana, the Cuyuni-Mazaruni district is also home to most of the other major developments underway.

Guyana has a long history of small- and medium-scale alluvial mining. However, its mining-friendly policies and supportive government have attracted several foreign firms in recent years. This publication previously reported that five Canadian mining companies collectively control an estimated 15.5 million ounces of gold across various projects in different stages of development. These ventures are currently undergoing exploration, feasibility studies, and permitting processes, with first production expected between 2026 and 2028. Most of these companies have commended Guyana’s favourable regulatory environment and view their projects here as key drivers of future growth.

Notably, Guyana’s gold sector has seen a noticeable dip in declarations in recent years. According to the Bank of Guyana’s annual reports, gold declarations declined by roughly 209,000 troy ounces between 2019 and 2023. However, a modest rebound was recorded in 2024, with declarations rising by 1,954 ounces, from 432,113 ounces in 2023 to 434,067 ounces.

This publication had reported that Guyana has been ranked among the top 10 jurisdictions in the world for mining investment attractiveness, according to the Fraser Institute’s Annual Survey of Mining Companies 2024.

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Aurora Gold Mine, Chinese Company, earnings, Guyana Gold, Zijin Mining Group Co. Ltd

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