en.Wedoany.com Reported - Recently, a gold mine auction with a premium of over 275 times has drawn market attention.
The core target of this auction was the exploration right for the Tugeman Su Gold-Copper Mine in Akto County, Xinjiang. The starting price was only 9.0701 million yuan. After multiple rounds of fierce bidding, it was ultimately won by Zhongjin (Hetian) Mineral Development Co., Ltd., a controlled subsidiary of the central state-owned enterprise China National Gold Group Co., Ltd., at a price of 2.507 billion yuan, representing a premium of over 275 times.
With such a high premium, what makes this mine so special?
It is understood that the Tugeman Su Gold-Copper Mine is located near Akto County in the Kizilsu Kirghiz Autonomous Prefecture of Xinjiang, situated in the West Kunlun orogenic belt. This belt lies on the northwestern edge of the Qinghai-Tibet Plateau, at the junction of the Paleo-Asian and Tethyan tectonic domains. The geological structure is complex, with historically frequent magmatic activity, creating highly favorable conditions for the mineralization of copper, gold, lead, zinc, and iron.
According to the geological research paper "Discovery and Significance of the Tugeman Su Gold-Copper Mine in the West Kunlun," the discovery of this deposit is considered a major breakthrough in copper-gold prospecting in China's West Kunlun region. The Tugeman Su Gold-Copper Mine was discovered between 2023 and 2024 by the Geophysical and Geochemical Prospecting Center of the Xinjiang Uygur Autonomous Region Geological Bureau during the government-funded geological survey project "General Survey of Gold-Copper Deposits in the Tugeman Su Area, Akto County, Xinjiang." The gold metal content has reached a medium scale, and the copper resource volume is also expected to reach medium scale or above. In recent years, multiple mineral occurrences have been discovered in this area, including the Muji Gold Mine, the Karama Copper-Gold Mine, the Tuoritiwutoke Copper (Gold) Mine, and the Kalaguorumu Copper Mine, indicating promising prospecting potential. The paper also notes that the discovery of this deposit has expanded the prospecting area in the West Kunlun region, holding significant academic research value and economic importance.
Beyond reserves and academic value, the actual mining conditions of the area were also a key factor in pricing during this auction. As a direct competitor in the bidding, Sichuan Gold sent a team to conduct a field survey of the mining area. Their feedback indicated that the area includes both plains and Gobi deserts as well as high mountains, with relatively favorable mining conditions.
The high transaction price confirms the value of this mine, and the strength of the company that secured it should not be underestimated.
According to data from Tianyancha, the equity structure of the winning bidder, Zhongjin (Hetian) Mineral Development Co., Ltd., consists of three entities. Its controlling shareholder, China National Gold Group Geological Co., Ltd., holds a 60% stake; the listed company Zhongjin Gold Co., Ltd. holds a 30% stake; and Beijing Jinzhou Zhiyuan Mining Technology Development Center (Limited Partnership) holds a 10% stake. Among these, China National Gold Group Geological Co., Ltd. is a wholly-owned subsidiary of the central enterprise China National Gold Group Co., Ltd., while the major shareholders of Beijing Jinzhou Zhiyuan Mining Technology Development Center (Limited Partnership), after tracing through layers, are also China National Gold Group Co., Ltd. Therefore, Zhongjin (Hetian) Mineral Development Co., Ltd. is a controlled subsidiary of China National Gold Group Co., Ltd.
With the identity of the winning bidder revealed, the transaction has entered the substantive phase of public announcement and delivery. According to the announcement by the Department of Natural Resources of Xinjiang Uygur Autonomous Region, the public notice period for the transfer result of this exploration right is from June 30 to July 13, 2026. The winning bidder is required to pay the full transaction price of 2.507 billion yuan in a single installment, and the proposed term for the exploration right is 5 years. This auction, with a premium rate of 275 times, has reshaped market perceptions and reflects the current heated state of the mining rights market. Against the backdrop of high gold prices and increasing emphasis on strategic mineral resources, the scarcity value of high-quality mining rights is being reassessed by capital. For China National Gold Group Co., Ltd., securing this key gold-copper mine in the West Kunlun region will help further consolidate its resource reserves in the gold and non-ferrous metals sector. The subsequent exploration and development progress of the Tugeman Su Gold-Copper Mine, and whether the exploration right acquired for 2.5 billion yuan can yield corresponding resource returns, will be key points of ongoing market attention.
