China Shouguan Mining Corp plans to expand gold mining operations in China. Plans include further developing existing gold mines, acquiring new underperforming ones and potential exploration operations in China’s three major mineral rich zones.
Shouguan has two successful gold mine operations in Shandong province, one of China’s largest and richest gold zones. In coming months it will also have operations in Daxinanling, with major potential to become one of the country’s major gold zones in the future.
The new mines were part of a recent Memorandum of Understanding (MoU) signed with Daxinanling government officials to establish and operate a joint venture (JV) gold mine operation company. China Shouguan is the first mining company to sign such an MoU with the Government.
Although other Chinese miners are closing or scaling back foreign operations, including in Africa and Peru, China Shouguan is benefiting from this capital return and investor focus. Additional mine acquisition is part of the company’s plan to list on the NASDAQ stock exchange by 2015.
CEO Feize Zhang said that while the company is proud as the first Chinese gold mining operation to be listed on the US exchange, “we don’t want to rest on the past; our future is continued growth and everyone in the company is committed to success.”
China Shouguan Mining is a gold mining explorer and developer operating in the gold rich zone of the mainland’s Shandong province. The company acquires or leases underperforming mines in major gold zones and funds expanded exploration and production via industry-leading technologies.