The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region
Issue link: https://asiaminer.epubxp.com/i/830355
Volume 14 • Issue 2 | 2017 | ASIA Miner | 29 China SHANDONG Gold Group says it has discovered deposits that could be China's largest gold discovery. The deposits are at Xiling mine, Shandong Province in the nation's east. A statement on the website sdchina.com, which is supervised by the provincial government, said that Xiling mine had identified 382.58 tons of gold reserves and that the total could reach 550 tons once exploration was complete in two years. This would make it China's largest mine and when operating at full capacity, Xiling would have a mine life of 40 years. Chinese gold companies, including Shandong which is the na- tion's second largest producer behind Zijin Mining Group, have stepped up their search for more domestic deposits as well as eye- ing overseas acquisitions. According to the Ministry of Industry and Information Technology, China wants to increase reserves by 3000 tons to as much as 14,000 tons by 2020. A recent development has seen Shandong in advanced talks to buy a 50% stake in Barrick Gold's Veladero gold mine in Argentina, which is estimated to be worth at least US$1 billion. Despite Barrick being in talks with Shandong and Zijin, it is believed the latter is no longer involved. Veladero was the site of another pipe rupture in late March, the third incident in 18 months involving cyanide-bearing solution. This may delay an agreement but Reuters reports that it is unlikely to reduce the Chinese company's interest in the asset. The news service reports that a source informed them that the talks with Shandong were at the "final stage of agreeing the condi- tions and amounts". On March 28, a coupling between two pipes on the leach pad processing facility at Veladero failed, causing a gold and diluted cyanide solution to spill. Although all solution was contained within the operating facility and Barrick said there was no impact on peo- ple or the environment, provincial authorities ordered Barrick to stop adding cyanide to the leach pad pending repairs. The purchase plan being discussed would also see Shandong acquire 50% of Barrick's nearby undeveloped Pascua-Lama gold and silver project on the border of Argentina and Chile. This was put on hold in 2013 due to environmental issues, political opposition, labour unrest and $8.5 billion development costs. Most of Shandong Gold's properties are in the eastern seaboard province of Shandong. Xiling could be China's largest gold mine 西岭有望成为中国最大的金矿 由省政府监管的sdchina.com网站发表了一份声明称， 西岭金矿已备案黄金金属量382.58 探结束后，总量达到550吨。 西岭有望成为中国最大的金矿，可满负荷生产40年。 中国黄金企业，包括仅次于中国最大产金企业-紫金矿 业集团的第二大产金企业-山东黄金集团，在着眼于海 外收购的同时也加强国内找矿工作。据工业和信息化 3000吨，到2020年达到 14000吨。 者位于阿根廷的Veladero金矿50% 估值逾10亿美元。尽管巴里克与山东黄金和紫金都进 三月下旬，Veladero管道出现破裂，这是该矿18个月 以来第三次出现氰化物溶液泄露事故。这可能会推迟 协议的签署，但是路透社报道称，这不会减少该中国 企业对此矿山的兴趣。 条款与金额的最后阶段"。 3月28日，Veladero处理设施浸出垫的两个管道耦合处 但是当地政府下令让巴里克停止往浸出垫中添加氰化 物，等待维修。 正在讨论的收购计划中还包括，山东黄金将收购巴里 克位于附近的尚未开发的Pascua-Lama金银矿项目50% 的股权，该项目横跨阿根廷与智利两国边境。由于环 保问题、政治上的反对、劳资纠纷以及85亿美元的开 发成本等问题，该项目在2013