Wednesday, 29th June 2005 (3144 views)

WC Exploration has announced that it is to boost its gold production in China.

An official agreement with the Chinese government allows WC Exploration to operate a joint venture with the Tong Guan County Xing Tong Mining Company and Orient Will Investment near the Chinese city of Tong Guan.

According to WC Exploration, the Chinese partners have responded enthusiastically to the company's plans to double gold production at the joint venture within six months.

With the increase in production, WC Exploration plans to exercise its right to increase its stake in the Tong Guan joint venture to 70 per cent.

The Beijing government recently named the city of Tong Guan the China National Gold City. Approximately 7,000 tonnes of gold ore have so far been stockpiled at the Tong Guan mine.

 

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