|A new mill is being constructed at the Jiama Copper-Polymetallic Project in Tibet Autonomous Region.|
CHINA Gold International Resources Corp plans to grow production capacity at its Jiama Copper-Polymetallic Project in Tibet Autonomous Region in two stages. At the completion of stage one, scheduled for the second half of 2014, the new mill’s daily capacity is expected to grow from 6000 tonnes to 28,000 tonnes of ore. Stage two construction of an additional 22,000 tonnes daily capacity is expected to be completed by the second half of 2015.
This expansion will grow Jiama’s daily processing capacity nearly eight times from 6000 tonnes in 2013 to 50,000 tonnes in 2015. By 2016, annual copper production is expected to reach 176,000,000 pounds.
China Gold International expected first gold output from a new crusher and ADR plant at CSH Gold Project in Inner Mongolia during the second quarter and annual gold production is expected to reach about 260,000 ounces by 2015. The ramp-up of production on the new facility with daily capacity of 30,000 tonnes is in progress.
In the production and operating outlook for 2014, China Gold said organic growth, cost management and international expansion continued to be its main goals for 2014. It says it will continue to leverage the technical and operating experience of its controlling shareholder, China National Gold Group Corporation (CNG), to improve operations at its mines, increase production and minimize costs.
To fulfil its growth strategy, the company is continually working with CNG and other interested parties to identify potential international mining opportunities, mainly outside China, which can be readily and quickly brought into production with the possibility of further expansion through continued exploration.
Gold production in 2014 is expected to be about 208,000 ounces but the company is unable to provide definitive 2014 production guidance for Jiama as the mine is dealing with reduced power supply that has affected the central Tibet region during the winter.
The Tibet Autonomous Region government and the Central Government of China are progressing a power supply development plan while the company is implementing counteractive measures to mitigate the effect of power shortages. It anticipates Jiama will be able to resume full production by the end of May. The company will then need to confirm its 2014 guidance for Jiama in mid-2014.
Gold production from CSH decreased 5.8% from 139,443 ounces in 2012 to 131,418 ounces in 2013. This was partially due to lower grades of ore mined and longer recovery periods caused by the growing height of the leaching heap. Copper production from Jiama increased 10% from 25,820,417 pounds in 2012 to 28,323,626 pounds in 2013. The third full year of increasing production for Jiama is mainly due to higher volumes of ore mined and improved recovery rates.
对于2014年产量和经营前景，中国黄金国际称，内生增长、成本管理和国际扩张仍是其2014年的主要目标。公司将继续利用其控股股东 – 中国黄金集团公司（GNC）的技术和运营经验，以改善其矿山运营，提高产量和降低成本。