Hong Kong Xinhai Mining Services has acquired a 10,19% stake in UK-listed miner Ariana Resources. The deal, first announced on December 22 2025, marks the completion of the first tranche of a broader AU$11 million (US$7,35 million) phased investment aimed at advancing Ariana’s Dokwe Gold Project in Zimbabwe.
The investment signals strong international confidence in Ariana’s flagship Dokwe project, which has already shown promising early drilling results.
With Xinhai’s funding and technical support, Ariana is positioned to accelerate exploration and feasibility work, potentially expanding its 1,4-million-ounce gold resource and boosting Zimbabwe’s mining profile.
Under the agreement, Xinhai provided AU$8 million in immediate funding for working capital and early-stage project development, including metallurgical test work and a definitive feasibility study.
The completion of the shareholding acquisition was notified on 30 December 2025, representing 266 666 670 shares and giving Xinhai 10,19% of Ariana’s voting rights. The ultimate controlling entity is Yunlong Zhang.
The investment will continue in two further tranches: AU$1 million (US$668 749) and AU$2 million (US$1,33 million), to be settled through shares and options as technical and feasibility milestones are achieved.
In addition to funding, the agreement allows Xinhai to nominate a director to Ariana’s board, making it a strategic investor rather than a purely financial backer.
Xinhai is the international investment and service arm of Shandong Xinhai Mining Technology & Equipment Inc., a China-based engineering, procurement, construction, management, and operations company.
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Ariana has already made significant progress at Dokwe. By December 12,2025, over 50% of its drilling target had been completed, with early results reinforcing geological models and indicating potential resource growth.
A follow-up statement on December 23 reported encouraging initial assay results, including high-grade intercepts such as 14m at 2,17 g/t, extending the Dokwe Central deposit at least 45 metres beyond the previously known resource envelope.
“We believe Dokwe has the potential to increase in scale. Less than two months into our first exploration drilling campaign, we have shown that the Dokwe Central deposit is richly mineralised well beyond the current resource envelope,” said Ariana managing director Kerim Sener.
Sener added that the year-end camp closure allowed the team to review data from the drilling programme and plan further RC and diamond drilling in 2026, focused on exploration and detailed metallurgical test work.
