China Shouguan Mining expands operations into northeast China

first_imgChina Shouguan Mining Corp is expanding mine operations into the gold rich HeiLongJiang Province in northeast China. The company’s portfolio of long-life assets will now include gold, silver, copper, lead, zinc and molybdenum.  The gold mine operations agreement signed with the Province’s DaXingAnLing Government (DXL) in November 2013 involves broad cooperation with Guolin Investment Co, DXL’s subsidiary. Guolin is highly experienced in gold and mining operations and presents a strong partner for China Shouguan. Under the terms of the agreement, China Shouguan will use its advanced techniques and conduct exploration and development of the gold deposits in the DaXingAnLing area. Exploratory work is expected to begin in March, 2014.Chairman Zhang said, “The expansion of our gold and silver focused co-operative project now presents additional opportunities for China Shouguan Mining. We will be adding silver, copper and molybdenum, which is a key ingredient in making steel strong and corrosion resistant.” Zhang added, “Molybdenum is in high demand as China keeps building power plants, turbine engines, offshore drilling rigs and turbine engines. It is also highly valued as a high-performance specialty lubricant and is a key component in fertilizers, retardants and vitamin supplements.”The initial three projects that China Shouguan Mining begins exploration and development of in March are:DXL West 15: Covering 500 km2 for gold and silver exploration along with other mineralsShaBaoSi gold mine: Covering 448 km2 with 10 exploratory rights licenses to mine gold, silver, copper, zinc and molybdenumTaYuanTong polymetallic project: Covers an historically rich gold, silver, zinc and copper reserves area and includes the project’s mining license.Zhang said, “The diversification of our reserve potential and the expansion of our holdings will greatly increase the company’s projected cash flow for 2014. These longer-term development projects present organic growth opportunities, which the company will build on. With our special Government relationships these projects have low political risk and offer significant upside and growth potential.”China Shouguan Mining operates in the gold rich areas of Shandong and HeiLongJiang Provinces in China. It acquires or leases under-performing mines in major mineralised areas, then funds expanded exploration and production using industry leading technologies. China Shouguan is planning to acquire mining operations in Australia, North America and SE Asia and is focused on uplifting to NASDAQ by 2015.last_img

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