China Shandong Gold to add 1.9 tonnes gold output
Tue Apr 28, 2009 6:17am EDT
reuters.com
BEIJING, April 28 (Reuters) - China has approved an expansion plan for Shandong Gold Mining Co. (600547.SS), which will boost production of the country's major gold miner by 1.9 tonnes per year, the country's top planning body said on Tuesday.
Last Friday, China announced that its gold reserves had risen by 454 tonnes from 600 tonnes in 2003 mainly through purchasing domestic output, secretly making China the fifth-largest country in gold deposits. [ID:nPEK307477]
The expansion scheme, which will more than double the ore selection capacity in Shandong's flagship gold mine Jiaojia to 6,000 tonnes per day, will lift Jiaojia's annual gold output to 6.5 tonnes from current 4.6 tonnes, China National Development and Reform Commission said.
The Jiaojia Gold Mine, in the gold-rich Shandong province of eastern China, has proven gold reserves of more than 200 tonnes, according to China's Ministry of Land and Resources.
(Reporting by Beijing Newsroom; Editing by Chris Lewis) |
