MAC/20: Mines and Communities

Update: foreign companies in China

Published by MAC on 2007-06-15

Update: foreign companies in China

Australian-based Sino Gold Ltd., a dual Australian and Hong Kong-listed gold mining company, is preparing to develop the Jiaojia Gold Fault in Shandong Province, which the company currently holds a 70 percent stake in a joint venture. Sino Gold began operation of its Jinfeng Gold Mine in Guizhou Province in mid-April. The mine is scheduled to become fully operational by June 2007, and produce 180,000 ounces of gold per annum.

Sino Gold is currently developing several other gold deposits in Guizhou, Heilongjiang, Jilin and Shandong provinces, also in partnership with local mine license holders. [Interfax China Metals 22 June 2007]

Former and current executives of Robert Friedlan’s Ivanhoe Mines are, says Mineweb ( 21 June 2007) now helping to “guide the development of China’s newest and third or fourth largest gold mine, Jinshan Gold Mines’ Chang Shan Hao 217. According to the Friedland clones, they and other foreign mining companies now working in China will be given first choice on even more impressive projects. Jinshan's Chang Shan Hao 217 mine is expected to yield 117,000 ounces of gold annually and is expected to become China’s third or fourth largest gold mine.

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