First Look: Zijin Mining's $1.2B Acquisition Boosts Gold Reserves
Stock News
- Zijin Mining (OTCPK:ZIJMF) has announced a $1.2 billion acquisition of the Raygorodok Gold Mine in Kazakhstan. This strategic move is set to bolster Zijin's gold reserves and production capabilities, positioning the company to become one of the top three global gold producers by 2028. The acquisition comes as Zijin prepares for the listing of its international unit on the Hong Kong Stock Exchange.
- Innovent Biologics (OTCPK:IVBIY, OTCPK:IVBXF) has gained regulatory approval in China for its obesity drug, mazdutide, marking a significant challenge to Novo Nordisk (NVO, Financial) and Eli Lilly (LLY, Financial) in the Chinese market. The approval is based on successful Phase 3 trials, positioning Innovent as a key player in addressing China's rising obesity rates.
- Lens Technology, a supplier for Apple (AAPL, Financial), is seeking to raise up to $606 million through a Hong Kong listing. The company plans to sell 262 million shares, marking a discount of up to 28% from its recent Shenzhen closing price. The listing is part of a broader trend of Chinese firms pursuing secondary listings in Hong Kong.
- Vallourec (OTCPK:VLOUF) has secured a major order from Abu Dhabi National Oil Company (ADNOC) for over 30,000 tons of carbon steel tubulars. This order is part of a long-term agreement, enhancing Vallourec's presence in the oil and gas sector with integrated services and digital solutions.
- Hyatt Hotels (H, Financial) has agreed to sell Playa's real estate portfolio for $2 billion to Tortuga Resorts. The deal includes 15 all-inclusive resorts across Mexico, the Dominican Republic, and Jamaica, with Hyatt retaining management agreements for most properties. The transaction is expected to close by year-end, subject to regulatory approvals.
- Equinor (EQNR, Financial) has discovered oil in the Johan Castberg area of the Barents Sea, with an estimated 9-15 million barrels. This discovery supports Equinor's plans to expand reserves and production in the region, with further exploration wells planned to increase output.
- Juniper Networks (JNPR, Financial) shares surged 8.5% after the DOJ settled its lawsuit with HP Enterprise (HPE, Financial), allowing their merger to proceed. The settlement requires divestitures but is expected to be EPS and FCF accretive for HPE within a year post-close.
- Iberdrola (OTCPK:IBDRY, OTCPK:IBDSF) is in early talks with Ovo Energy for a potential merger, which would create the UK's third-largest home energy supplier. The merger would see Ovo as the acquiring entity, with Iberdrola potentially remaining a shareholder.
- Hikma Pharmaceuticals (OTCPK:HKMPF) plans to invest $1 billion by 2030 to expand its U.S. manufacturing and R&D capabilities. This initiative aims to enhance Hikma's capacity to provide a wide range of medicines to the U.S. healthcare system.
- Tesla (TSLA, Financial) has launched its V4 superchargers in China, offering up to 500 kW charging power. The rollout includes multiple provinces, with plans to expand further, supporting Tesla's extensive network of over 2,100 Supercharger stations in mainland China.
- Apollo Global Management (APO, Financial) is set to close its acquisition of Everi Holdings (EVRI, Financial) and IGT's gaming business this week. The $6.3 billion deal will create a new entity focused on gaming technology and fintech, with plans for a future IPO.
- Stanley Black & Decker (SWK, Financial) has appointed Christopher Nelson as CEO, effective October 1, 2025. Nelson, currently COO, will succeed Donald Allan, Jr., who will become executive chair. The company expects strong Q2 EPS performance.
- Phoenix Motor (OTC:PEVM) has expanded its global manufacturing footprint with a new agreement in China. The deal provides rent-free access to over 1.6 million square feet of EV production facilities, supporting Phoenix's international market expansion.
- SEALSQ Corp (LAES, Financial) has completed a strategic investment in WeCan Group, acquiring a 28.30% equity stake. This investment enhances SEALSQ's capabilities in blockchain-based security solutions across financial services and IoT infrastructure.
- ATRenew (RERE, Financial) has authorized a $50 million share buyback program, representing approximately 6.42% of its market cap. The buyback is expected to be funded from existing cash reserves, with shares rising 2.87% in premarket trading.
Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
