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Thursday, 27th November 2008 (1853 views)

Zhongjin Gold has announced that it is planning to build a new gold smelter in Henan province, China.

The Chinese gold miner claimed that the smelter will have a daily processing capacity of around 200 tonnes of gold concentrate and will produce an estimated 2,161kg of alloyed gold a year.

In a statement to the Shanghai Stock Exchange, the publicly-listed company said that it would spend RMB226.88 million (£21.5 million) on the new facility.

A fully-owned subsidiary with a registered capital of RMB60 million will be established to operate the smelter in Songshan county, central China.

Zhongjin Gold has stated that it plans to raise funds to construct the smelter through bank loans and other methods.

Primarily concerned with the exploration, mining and smelting of gold and other metals, Zhongjin Gold produced and processed around 70.95 metric tonnes of standard gold during 2007 and 4.68 metric tonnes of mineral gold.

 

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