Report published September 2, 2026
Zijin Gold Intl: Goldman Sachs Asia Leaders Conference 2026 Key Takeaways & Expansion Outlook
Source and citation context
- Issuer
- Goldman Sachs
- Report date
- September 2, 2026
- Analysis as of
- Not stated in source
Authors / editors: Trina Chen, Joy Zhang
Finvaulta summarizes Goldman Sachs's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Goldman Sachs hosted Zijin Gold Intl CEO Xianjian Guo at its Asia Leaders Conference 2026 to discuss production targets, M&A strategy under new ODI rules, and cost trends. The company aims for 100t overseas mined gold by 2030, targeting non-red zone acquisitions in South America and Central Asia with conservative US$3,000–3,500/oz gold price assumptions.
Key Takeaways
- 1.Zijin Gold Intl targets 100t overseas mined gold production by 2030, expecting at least 57t (targeting 59t) in 2026 and reaching 70t+ annual capacity by 2029 prior to additional M&A.
- 2.Under new ODI regulations focusing on overseas mining risk control, Zijin Gold Intl is prioritizing acquisitions in non-red zone regions where it currently operates, including South America and Central Asia.
- 3.AISC rose to US$1,678/oz in 1H26 due to higher royalties, labor, logistics, and lower ore grades, while the company uses a conservative gold price assumption of US$3,000–3,500/oz for M&A and feasibility evaluations.
Table of Contents
- Bottom line
- Key takeaways
- Disclosure Appendix
- Reg AC
- GS Factor Profile
- M&A Rank
- Quantum
- Disclosures
- Company-specific regulatory disclosures
- Distribution of ratings/investment banking relationships
- Price target and rating history chart(s)
- Target price history table(s)
- Regulatory disclosures
- Ratings, coverage universe and related definitions
- Global product; distributing entities
- General disclosures
Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| Overseas mined gold production target | 100 tonnes | Zijin Gold Intl target overseas gold production |
| Overseas mined gold production expected output | 57-59 tonnes | Output expected to reach at least 57t (targeting 59t) vs 47t in 2025 |
| All-in Sustaining Costs (AISC) | 1,678 USD/oz | Increased from US$1,568/oz in 1H25 due to royalties, labor, logistics, and grade decline |
| Dividend payout ratio | 35% | Payout ratio during growth phase compared to 60–70% for mature global mining peers |
| Feasibility & M&A gold price assumption | 3,000-3,500 USD/oz | Prudent pricing used by management to ensure mine profitability |
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- Overseas mined gold production target: 100 tonnes (2030)
- Overseas mined gold production expected output: 57-59 tonnes (2026)
- All-in Sustaining Costs (AISC): 1,678 USD/oz (1H26)
- Dividend payout ratio: 35 % (Current (2026))
- Feasibility & M&A gold price assumption: 3,000-3,500 USD/oz (Long-term)
Securities
Themes
Regions
Related Reports
European Week Ahead
September 14, 2026
BoE Preview: Holding in September, Hiking in November
September 14, 2026
Asia Leaders Conference Takeaways: TECO: Modular Data Center in Expansion, Driving Deployment and Efficiency
September 14, 2026
China: Market Expectations for the Upcoming Trump-Xi Meeting: Signals from Our Investor Survey
September 14, 2026
China: What Do Local Clients Think About the Economy?
September 14, 2026