China Shouguan Mining Corporation has signed a memorandum of understanding with Tong Guan Hong Ji Mining Company to lease Tong Guan’s business assets for one year with the intent to acquire afterwards should the operation be successful and profitable.
Tong Guan is in Shanxi province with equipment and technical professionals specializing in applying mud cyaniding technology on tail mineral sites. These processes not only allow extraction of gold and other precious metals from the tail mineral sites, but also vastly improve the ecological environment of mining areas which is a key objective of the local government.
China Shouguan’s CEO Feize Shang says, “This co-operation with Tong Guan is not just a good business sense, it is also an environment friendly endeavour. It goes a long way to demonstrate that China Shouguan is a socially responsible company.”
China Shouguan 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.
China Shouguan is planning to acquire mining operations in Australia, North America and South East Asia and is focused on uplifting to NASDAQ by 2015. www.chinashouguan.com