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Chinese Mines
Chinese Mines
As well as being the largest importer of gold in the world, and the world’s largest consumer of gold, the Chinese gold
mining sector is the world’s largest national gold producer. According to the China Gold Association, China produced
453.5 tonnes of gold from mining operations during 2016, maintaining its pole position as the world’s largest gold
producer for the 10th consecutive year. Most of this gold production comes from direct gold mining, however, about 10-
20% results as a by-product of other non-ferrous mining.
Domestic gold mining is China’s second largest source of gold supply after gold imports, and mining supply, together
with gold imports, drives the supply side of the Chinese Gold Market supply-demand balance.
China’s annual gold mining output is far ahead of both Australia and Russia, the world’s second and third largest gold
producers. These two countries produced 270 tonnes and 250 tonnes of gold mining output, respectively, during 2016.
Chinese annual gold mining output has grown by 62% since 2007, and first exceeded the 300 tonnes level in 2009,
followed by the 400 tonnes level in 2011. By 2014, it had reached a record 478 tonnes of gold output. In early 2017,
the Chinese Ministry of Industry and Information Technology stated that the nation plans to boost annual gold output to
500 tonnes per year by 2020. This would mean gold production growing by an annual average 3% over the 2017-2020
period.
China Gold Association said that as of the end of 2016, China’s proven in-ground gold reserves had reached 12,100
tonnes
The ten top Chinese gold producers account for over half of the country’s total refined gold output.
Major Mining Companies in China
Shandong Gold
CNGC or China Gold is based in Beijing and is a centrally state owned. Controls Zhongjin Gold, which accounts for 20% of
total gold production in China and controls more than 30% of domestic reserves.
Chinese gold corporation primarily engaged in the mining and refining of gold, silver, copper, and molybdenum and also
construction engineering operations on Class-A and Class-B constructions in metallurgy, mining, and energy industries.
China Gold has 7 major business sectors: Zhongjin Gold, China Gold International, Zhongjin Jewelry, Zhongjin
Construction, Zhongjin Resources, Zhongjin Irradiation and Zhongjin Trade.
Project Short description Techniques & Benefit for
Distance
name Technology AzerGold
Shandong Gold is a state-owned capital investment company directly under Shandong Provincial Government. Market
Capitalisation is 57 bln $. Shandong Gold-mining Co Ltd is engaged in exploitation, mining and processing of gold. Its main
products are gold and silver.
World-class gold mine with 382.58 tons of reserves has been found in Xiling, East China's Shandong earlier this year, with
a potential value of more than $22 billion (150 billion yuan), announced Shandong Gold Group Co Ltd during its press
conference in Beijing on March 28, 2017. It is believed to be China's largest gold deposit in history.
The gold mine is located in the Laizhou-Zhaoyuan region of northwest Jiaodong Peninsula, East China's Shandong. The
special geological characteristic of this region helped to form the country's major gold deposits cluster, which has the
largest gold reserves and production in China.
According to reports, Xiling gold deposit is more than 2,000 meters long and part of it has a thickness of 67 meters.
Currently, 382.58 tons of gold reserves have been prospected with an average gold grade of 4.52 g/t. And 550 tons of gold
resources with more than $22 billion potential economic value can be expected in two years. If producing on a scale of
10,000 tons every day, the gold deposit can produce gold continuously at full capacity for 40 years.
Directly supervised by Stated-owned Assets Supervision and Administration Commission of Shandong Provincial
Government.