China Shouguan Mining Corporation has signed an exploration agreement with the China National Administration of Coal Geology (CNACG). The CNACG, established in 1953, is under direct control of the Central Government and has discovered more than 800 billion tonnes of coal resources, providing the energy backbone for China's booming industrial growth.
This new partnership will provide China Shouguan with an invaluable opportunity to cooperate on identifying, exploring and monetizing global mineral resources with a world-class organization.
Under the agreement, China Shouguan will cooperate on domestic and foreign mineral resource exploration opportunities with the CNACG. The CNACG brings world-class exploration technology, remote sensing, digital mapping and advanced seismic exploration techniques to the venture. Coupled with China Shouguan’s intention to aggressively pursue foreign mining acquisition opportunities in 2014, the CNACG partnership has come at the perfect time.
China Shouguan’s CEO Feize Zhang says, “Our agreement with the CNACG is a major milestone for China Shouguan and further proof that 2014 should be our breakout year. We anticipate boosting our gold reserves by over 1 tonne at our Shandong mines, are preparing an aggressive foreign acquisition campaign and are making great progress with our mining joint-venture with the Daxinganling Government. These efforts, and many more to come, are laying the foundation for our expected up-listing to NASDAQ in 2015.
“As proof of China Shouguan’s drive and commitment to becoming a leading gold mining company, we only partner with the best. The CNACG is truly one of the world’s top mining resource and exploration organizations. Our partnership with the CNACG proves that China Shouguan has industry leading credentials, experience and respect, as the CNACG only partners with elite companies. China Shouguan is a company on the rise and we are excited for what 2014 has in store.”
China Shouguan Mining Corporation is a gold mining exploration and development company operating in the gold rich zones of Shandong and Heilongjiang provinces in China. The company acquires or leases under-performing mines in major mineral zones, then funds their expanded exploration and production utilizing industry leading technologies. It is planning to acquire mining operations in Australia, North America and South East Asia.