China Gold International's Jiama Mine welcomes reputable recognition by Global Compact China Network
The Company plans to drill approximately 30,000 meters at the Jiama Mine during 2013.
Jiama is hoped to reach its planned full capacity of 40,000 tpd of ore.
Global Compact Network China hereinafter referred to as the "China Network" is the local network of UN Global Compact in China. China Network strives to promote more Chinese companies to sign up for the UN Global Compact, propel companies to embrace and implement Global Compact ten principles in respect of human rights, labor rights, environment and anti-corruption, strengthen the communication and cooperation between Chinese companies and the international community, continuously improve the international status and image of Chinese companies and promote sustainable development of Chinese companies in the context of economic globalization.
The Jiama copper-gold poly metallic mine is located approximately 68 kilometers northwest of the capital city of Lhasa in Tibet Autonomous Region. Commercial production commenced in September of 2010. Copper production for 2012 is estimated to reach up to 11,500 tonnes with gold and silver. The Company is currently conducting its Phase II production expansion.
CHINAGOLDINTL (02099.HK)'s subsidiary affirms gold ore reserves of 148.5 tons in Inner Mongolia Web Site: www.aastocks.com
At a Board meeting held on March 25, 2013
the Board did not recommend the payment of any dividend
in respect of the year ended December 3
Jiama’s production capacity expansion will be done in two stages. Stage one, planned for completion during the fourth quarter of 2013, includes completion of a new 20,000 tpd mill.