2017: Opening of the largest gold deposit in China
On March 29, 2017 it became known that the Shandong Gold Group Co. company taking the second place in China on gold production volume detected the field which can become the largest in China in the east of the country, Bloomberg reports.
In the Xilin mine in the Province of Shandong 382.58 tons of gold are revealed. Inventory quantity can reach more than 550 tons after the prospecting works in two years are completed.
It will make the field the largest in China, says on the website of the government of the Province of Shandong. During the work at full capacity the mine will have service life of 40 years, said in the message[1].
The Chinese gold mining companies activated search of fields in the country and look for opportunities for acquisitions as the country aims at increase in stocks by 3 thousand tons up to 14 thousand tons by 2020, reported the Ministry of the industry and informatization of the People's Republic of China last month.
The share value of Shandong Gold Mining Co. grew by 2.8% at biddings in Shanghai.
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