Jinshan Gold Mines
Jinshan Gold Mines is focused on gold production and acquisitions in China. The company began producing gold at the CSH Mine in July 2007 and is actively advancing its portfolio of gold exploration properties in China.
China National Gold, a Chinese state-owned enterprise and the largest gold producer in China owns approximately 42% of Jinshan's shares.
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Jinshan Gold’s Mongolia Pacific secures US$31 credit facility from China National Gold Group
Jinshan Gold Mines Inc (TSX: JIN) said its subsidiary Inner Mongolia Pacific Mining Co Ltd (IMP) has secured a non-revolving Renminbi210 million, or US$31 million, credit facility from China National Gold Group, Jinshan’s significant shareholder with an approximate 41 percent stake.
The facility will help fund the ongoing construction and completion of the crusher system and expansion of the processing capacity at Jinshan’s Chang Shan Hao gold mine in China.
XD Jiang, Jinshan’s vice president production and general manager of IMP said: “With this funding, we are on schedule to complete the construction of the crusher system and are looking forward to bringing the crushers on line in the third quarter of this year. We have also started construction on the Phase II leach pad extension in early June.”
Infrastructure for the crusher system is now 90 percent complete and installation of the crushers and related equipment have commenced. Initial testing of each of the crushers is scheduled to begin in mid-July 2009.
“As we continue with the expansion, we are encouraged to see our gold production improving with 5,400 ounces poured in April and 6,200 ounces poured in May,” Jiang added.
Other Jinshan Gold Mines news
- Jinshan Gold says column leaching of CSH mine crushed ore significantly improves recoveries
2009-12-09 - Jinshan Gold reports new record gold production at CSH mine in September
2009-10-20 - China National Gold’s Xin Song appointed new CEO of Jinshan Gold Mines
2009-10-14 - Jinshan Gold Mines acquires Jiama property from China National Gold
2009-09-24 - Jinshan Gold Mines achieves record production in August
2009-09-10
