China Gold Plans Acquisitions and Production Increases

27 March 2011 (Last Updated March 27th, 2011 18:30)

China Gold International Resources is to increase its copper production and will acquire gold and copper mines outside China. The firm's executive vice-president Jerry Xie told Reuters that the company is looking to acquire gold and copper-gold mines in the neighbouring countries of Rus

China Gold International Resources is to increase its copper production and will acquire gold and copper mines outside China.

The firm's executive vice-president Jerry Xie told Reuters that the company is looking to acquire gold and copper-gold mines in the neighbouring countries of Russia and Mongolia.

The firm currently operates a gold mine in the Inner Mongolia region of China and a copper and gold mine in the western region of Tibet.

China Gold plans to increase production at the Inner Mongolia mine from 115,000oz to 145,000oz this year.

The company will complete a new phase at the Tibet mine, with details to be finalised next month, increasing production to 11,400t of copper and 3,000oz of gold.