Monday, 10th November 2008 (264 views)

Sino Gold Mining has announced that it has inaugurated its White Mountain gold mine in the country's north-eastern Jilin Province.

According to Jake Klein, Sino Gold chief executive, the company is two months ahead of schedule at the site, which lies 230km south-southeast of Changchun, the capital city of Jilin Province.

"Sino Gold will now enter 2009 with two long-life, low-cost operations and a strong balance sheet," he stated.

The first gold has been poured at White Mountain just 14 months after construction started and the firm claims that working with the provincial and local government and the community has proven successful.

Sino Gold is expecting to increase its production rate to 65,000 ounces a year during 2009 at White Mountain, when the mine enters commercial production.

The mining company currently owns 95 per cent of the project alongside surrounding exploration licences totalling 128 sq km and has known mineral resources of 1.2 million ounces at White Mountain and ore reserves of 784,000.

 

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