Continental Chief Executive Ari Sussman said the project is expected to reach production next year and the “timing is right for Continental to sell to a more experienced mine operator.”

Zijin expects its gold reserves to exceed 2,000 tonnes after the purchase, with output eventually increasing by about 20 per cent. It expects the Buritica project to generate robust profit and cash flow after becoming operational in 2020. The deal is, however, restricted by external conditions and faces uncertainty, Zijin said, without giving further details.