The Prospector News

China Gold International Resources

You have opened a direct link to the current edition PDF

Open PDF Close
Company Profile

Share this news article

China Gold International Resources

 

 

 

 

 

China Gold International Resources Corp. Ltd. (TSX:CGG) (HKEx:2099) is a Canadian based, profitable and growing gold and copper producer. The company operates two producing mines in China: the CSH Gold Mine in Inner Mongolia Region, and the Jiama Copper-Polymetallic Mine in Tibet Region. CGG is the flagship and the only overseas listing vehicle of the largest gold producer in China and 39% shareholder, China National Gold (CNG).

 

Combined Gold Reserve / Resource
CSH and Jiama Gold Contained Gold
(M oz)

 
Proven / Probable Reserve 4.04
Measured / Indicated Resource(1) 7.72

 

Copper Reserve / Resource
Jiama’s Copper Contained Copper (Billion Pounds / Thousand Tonnes)
Proven / Probable Reserve 5.63 / 2,554
Measured / Indicated Resource (1) 13.14 / 5,961
  1. Inclusive of Mineral Reserves

STEADY INCREASE OF PRODUCTION

CSH&JIAMA COMBINED GOLD PRODUCTION (Koz)

 

 

JIAMA COPPER PRODUCTION
(MM lbs)

 

 

HIGHLIGHTS

  • SOLID STRATEGIC INVESTOR BACKING-Strong support from controlling shareholder: China National Gold Group
  • SUSTAINABLE GROWTH-11th year of increasing production
  • Huge exploration potential providing significant resources and reserve upside
  • INVESTMENT GRADE CREDIT RATING-August 2017: S&P reaffirmed the company’s BBB- long-term corporate credit rating
  • ABILITY TO RAISE SIZABLE FINANCING AT LOW COST-2015-2017: Combined issued over US$1.1 billion bond
  • BROAD INVESTOR REACH IN NORTH AMERICA AND ASIA-Dual listed in TSX and HKEX, eligible trading under the Shenzhen-Hong Kong Stock Connect
  • HIGH STANDARD OF CSR AND HSE

Support From Major Sharholders

CGG leverages the technology, engineering, operating, government relationships, financing capabilities and international project pipeline of China National Gold.

 

 

MAJOR SHAREHOLDERS

As of May 15, 2019

 

 

Projects

 

CSH GOLD MINE

The CSH gold mine is one of China’s largest open pit gold mines.

PROJECT OVERVIEW

  • A conventional open-pit, heap-leach, gold-mining operation
  • Mining a large, bulk-tonnage, low-grade gold deposit
  • Located in Inner Mongolia of China, approximately 210km northwest of the city of Baotou
  • Principal product: Gold dore bars with silver as a by-product
  • Well-established basic infrastructure with excellent access to road and sufficient supplies of power, water and local labor force

JIAMA COPPER GOLD POLYMETALLIC MINE

 

The Jiama project is one of the largest copper gold polymetallic mines in China. The Jiama project is located within the Gangdise Copper Metallogeny Belt in Central Tibet, China and is approximately 60 kilometers east of Lhasa City along the Sichuan-Tibet Highway. The Jiama project is a large scale polymetallic deposit consisting of copper, molybdenum, gold, silver, lead and zinc.

 

The Company acquired the Jiama project on December 1, 2010 concurrent with the closing of its initial public offering and listing on the Stock Exchange of Hong Kong Limited. Commercial production began at the Jiama project in September 2010.

 

Phase I development was completed at the Jiama project in 2010 and included two open pits, a processing plant and an underground ore transportation system. 

 

Phase II expansion started commercial production on July 1, 2018. Jiama Mine’s Phase II consists of two series, Series I and Series II, each having a mineral processing capacity of 22,000 tpd.  The full design capacity of ore processing at Jiama Mine will increase to 50,000 tpd from the previous capacity of 28,000 tpd once Series II reaches full design capacity.

 

COPPER PRODUCTION

 

 

HIGHLIGHTS

  • Open-pit and underground mines operation
  • A large, skarn-type and porphyry copper polymetallic deposit with well-developed hornfels-type mineralization located in the Gangdise Copper Metallogeny Belt
  • Principal product: Copper with gold and silver credits
  • Commercial production of Jiama Phase II Expansion commenced July 3, 2018
  • With Jiama continues to ramp up operations at Phase II expansion to full design capacity, the copper production in 2019 is expected to reach to approximately 132 million pounds.
  • Expected life of mine: 35 years
  • According to the feasibility study, production is expected to grow to 176 million pounds of copper per year when reach full design processing capacity

BOARD OF DIRECTORS

 

LIANGYOU JIANG  – CHIEF EXECUTIVE OFFICER, EXECUTIVE DIRECTOR

Mr. Jiang, age 53, has served as an Executive Director of the Company since October 2014 to present. In November 2018, he was promoted to Chief Executive Officer. Mr. Jiang was elected as Vice President of China National Gold since July 2018. He was also elected as Executive Vice President of China Gold Hong Kong from October 2018 to present. Mr. Jiang was elected as Senior Executive Vice President of the Company from August 2014 to November 2018 and has served as a manager of Oversea Operation Department of China National Gold from December 2015 to July 2018. Mr.Jiang joined the Company in August 2010 as the General Manager of Tibet Huatailong, and served as the Chairman of Tibet Huatailong from February 2012 to August 2014. Mr. Jiang serves as Chairman of Zhongji Mining since May 2015 up to present. He serves as General Manager of China Gold Hong Kong Buchuk Mining Company (“Buchuk”) since 2015 to present. He has also serves as Chairman and General Manager of Buchuk since October 2017 to present. He served as Director of Guizhou Jingfeng Mining Ltd. from August 2016 to August 2018. He serves as Chairman of Sino Mining Guizhou Pty from June 2017 up to present. He also serves as Chairman of Soremi Investments Ltd. since January 2018. Mr. Jiang serves as Chairman of Kichi Chaarat Closed Joint Stock Company since January 2018 to present. Mr. Jiang has served as a director of Tibet Jia Ertong since August 2014, has served as a director of Skyland since October 2014. Mr. Jiang has served as the director of China Gold Hong Kong Holding and Mundoro since January 2015 and August 2014 respectively. From September 2007, Mr. Jiang has served as the Head of Engineering Management Division of the Investment Management Department of China National Gold.

Prior to joining China National Gold’s headquarters, Mr. Jiang served as a General Manager of China Kazakhstan Mining Corp. Ltd., a subsidiary of China National Gold. From August 1987 to March 2005, Mr. Jiang worked at Changchun Gold Design Institute Co. Ltd. (the “Design Institute”). He was appointed as a Chief Engineer of the Design Institute in February 2000 and then as Vice President and Chief Engineer of the Design Institute since April 2002. Mr. Jiang won more than 20 provincial-level scientific and technological achievement awards and numerous honorary titles from various agencies. In 2005, Mr.Jiang was awarded the special allowance by the State Council.

Mr. Jiang is a Senior Professional Engineer, holds a Bachelor’s Degree in mineral processing from Northeastern University.

 

SHILIANG GUAN –  EXECUTIVE DIRECTOR

Mr. Shiling Guan joined Tibet Huatailong in November 2015, as Chairman of the Board. From December 2015 to September 2016, he was promoted as CPC Party Secretary and Chairman of Tibet Hautailong. In September 2016 he was appointed as the Vice President of the Company. Prior to joining the Company, Mr. Guan served as Deputy Manager of the Production Management Department of China National Gold from 2011 to 2014. He was also Chairman of the Board, CPC Party Secretary of Inner Mongolia Baotou Xinda Gold MiningCo., Ltd. (“Xinda Mining”) from February 2014 to November 2015, where he was responsible for the overall production and operations at Xinda Mining. Prior to 2011, Mr. Guan also held senior positions at Jilin Haigou Mining Company, Shaanxi Dongtongyu Gold Mine of Zhongjin Gold Corporation Limited, Tongguan Zhongjin Gold Mining Co., Ltd, Songxian Jinniu Co., Ltd. and Qianhe Ltd. Mr. Guan is a senior professional mining engineer and has over 25 years of experience in the mining industry. Mr. Guan holds a bachelor’s degree in Mining Engineering from Northeastern University in China.

 

YONGQING TENG – NON-EXECUTIVE DIRECTOR

Mr. Teng, age 51, currently serves as Deputy General Manager of China National Gold Group Hong Kong Limited, a wholly owned subsidiary of CNG; (since October 2017), Executive Director and General Manager of China Gold Group Sichuan Co., Ltd.(since October 2017), Bureau Director of Sichuan Gold Industry Administration Bureau(since November 2015), and President of Sichuan General Investment Co., Ltd.(since November 2015). Prior to this Mr. Teng served as Manager of China Gold Sichuan Company from November 2015 to November 2017. He joined Tibet Huatailong in August 2010 where he served as Deputy General Manager until he was appointed General Manager in February 2012 and subsequently appointed Chairman in August 2014. He served in this capacity until November 2015. In addition, Mr. Teng previously served in the following capacities: General Manager of Sichuan Pingwu Zhongjin Mining Co., Ltd. from December 2006 to August 2010; Department Director of Development Department of Hubei Sanxin Gold and Copper Co., Ltd. from November 2006 to December 2006; Deputy Department Director of Development Department of Hubei Sanxin Gold and Copper Limited Company from September 2006 to November 2006; Deputy mine manager of Jilin Erdaodianzi Gold Mine from February 1998 to September 2006; Manager of the Mining Workshop of the Erdaodianzi Gold Mine in Jilin Province , and the head of the mining pit from July 1995 to February 1998; and Deputy Department Head, Jilin Erdaodianzi Gold Mine Office from November 1990 to July 1995.

 

FUZHEN KANG – NON-EXECUTIVE DIRECTOR

Ms. Kang joined Tibet Huatailong in July 2008 in a number of community communications roles. She holds a bachelor’s degree in environmental science from the Tibet University.

 

IAN HE – INDEPENDENT NON-EXECUTIVE DIRECTOR

Mr. He joined the Company as a founding non-executive director on May 31, 2000. Mr. He has over 30 years of experience in mining industry, with career covering teaching, research, engineering consulting, management of mining operations, merger and acquisition, financing, and management of public companies. Mr. He serves as President and Director of Tri-River Ventures Inc., a public company listed on the TSX Venture Exchange since October 2006, and prior to that, President and Director of Spur Ventures Inc. (now Atlantic Gold Corp.), a public company listed on the TSE Venture Exchange from 1995 to 2006. Mr. He also serves on the boards of several public companies, including SouthGobi Resources Ltd. a public company dual listed on the Toronto Stock Exchange and Hong Kong Stock Exchange since 2017, Vatukoula Gold Mines PLC, a public company once listed on the AIM of London Stock Exchange since 2013, Zhongrun Resources Investment Corp., a public company listed on the Shenzhen Stock Exchange from 2010 to 2018, and Dolly Varden Silver Corp., a public company listed on the TSX Venture Exchange from 2013 to 2015.

Mr. He holds a Ph.D. degree in mineral process engineering from the University of British Columbia, a Master of Applied Science degree in mineral process engineering from the University of British Columbia, and a Bachelor of Engineering degree in coal preparation and utilization technology from the Heilongjiang Institute of Mining and Technology (now Heilongjiang University of Technology) in China.

 

WEI SHAO – INDEPENDENT NON-EXECUTIVE DIRECTOR

Mr. Shao is the National China Service Co-Leader at Dentons Canada LLP and specializes in international business transactions focusing on China. Mr. Shao has over 25 years of extensive experience in mergers and acquisitions, corporate and project financing, cross-border counseling and general corporate and commercial transactions. Mr. Shao is actively in community and non-profit organizations. Prior to his legal career, Mr. Shao worked for the United Nations in New York. Mr. Shao is an interpreter accredited by the United Nationals and by the federal government of Canada. Mr. Shao holds an LLB from the University of Toronto, BA from Xian Foreign Languages Institute and U.N Accreditation of Simultaneous Interpretation from the Beijing University of Foreign Studies.

 

BIELIN SHI – INDEPENDENT NON-EXECUTIVE DIRECTOR

Dr Shi is a leading mining executive and geologist who specialises in investment management, mining geology, geostatistics, resource estimation and optimisation, exploration and project development Dr. Shi has over 30 years’ experience as a Geologist with high level experience in investment management, applied geostatistics, resource estimation and mining geology. Worldwide operational expertise in exploration and mine projects. Expertise with independent technical reviews, due diligence audits and expert technical reporting in compliance with the JORC Code, NI43-101 and HKEx Standards. Dr. Shi is a Competent Person under the JORC Code and holds equivalent credentials in respect of Canadian and Hong Kong’s Mineral Resources / Reserves reporting standards. Dr. Shi has published numerous papers on the application of geostatistics in resource estimation. Dr. Shi’s recent work has included investment management, audit and reviews of resources for multiple commodity projects. Dr. Shi has a Post-Doctoral Research Fellow in Geostatistics from Edith Cowan University, Western Australia; PhD in Geology from The University of Melbourne, Australia; and MSc in Geology from Guizhou University of Technology, China.

 

RUIXIA HAN – INDEPENDENT NON-EXECUTIVE DIRECTOR

Ms. Han is currently Head of Operations and Risk of MEC Advisory Limited, which is the sole Investment Advisor to Can-China Global Resource Fund. Mrs. Han’s role covers investment, accounting, finance treasury and investor relationships related matters. Prior to joining MEC Advisory Limited in 2014, Ms. Han was an Investment Manager at The Export-Import Bank of China (China EXIM Bank) responsible for sourcing, evaluating and negotiating investment opportunities in the banking and direct investment industry. Ms. Han obtained her PhD degree in Economics (Finance), Master degree in Economics (Venture Capital) and Bachelor degree of Economics (Finance) and has a double bachelor degree of Journalism from Renmin University of China.

 

MANAGEMENT

 

LIANGYOU JIANG – CHIEF EXECUTIVE OFFICER, EXECUTIVE DIRECTOR

Mr. Jiang, age 53, has served as an Executive Director of the Company since October 2014 to present. In November 2018, he was promoted to Chief Executive Officer. Mr. Jiang was elected as Vice President of China National Gold since July 2018. He was also elected as Executive Vice President of China Gold Hong Kong from October 2018 to present. Mr. Jiang was elected as Senior Executive Vice President of the Company from August 2014 to November 2018 and has served as a manager of Oversea Operation Department of China National Gold from December 2015 to July 2018. Mr.Jiang joined the Company in August 2010 as the General Manager of Tibet Huatailong, and served as the Chairman of Tibet Huatailong from February 2012 to August 2014. Mr. Jiang serves as Chairman of Zhongji Mining since May 2015 up to present. He serves as General Manager of China Gold Hong Kong Buchuk Mining Company (“Buchuk”) since 2015 to present. He has also serves as Chairman and General Manager of Buchuk since October 2017 to present. He served as Director of Guizhou Jingfeng Mining Ltd. from August 2016 to August 2018. He serves as Chairman of Sino Mining Guizhou Pty from June 2017 up to present. He also serves as Chairman of Soremi Investments Ltd. since January 2018. Mr. Jiang serves as Chairman of Kichi Chaarat Closed Joint Stock Company since January 2018 to present. Mr. Jiang has served as a director of Tibet Jia Ertong since August 2014, has served as a director of Skyland since October 2014. Mr. Jiang has served as the director of China Gold Hong Kong Holding and Mundoro since January 2015 and August 2014 respectively. From September 2007, Mr. Jiang has served as the Head of Engineering Management Division of the Investment Management Department of China National Gold.

Prior to joining China National Gold’s headquarters, Mr. Jiang served as a General Manager of China Kazakhstan Mining Corp. Ltd., a subsidiary of China National Gold. From August 1987 to March 2005, Mr. Jiang worked at Changchun Gold Design Institute Co. Ltd. (the “Design Institute”). He was appointed as a Chief Engineer of the Design Institute in February 2000 and then as Vice President and Chief Engineer of the Design Institute since April 2002. Mr. Jiang won more than 20 provincial-level scientific and technological achievement awards and numerous honorary titles from various agencies. In 2005, Mr.Jiang was awarded the special allowance by the State Council.

Mr. Jiang is a Senior Professional Engineer, holds a Bachelor’s Degree in mineral processing from Northeastern University.

 

JERRY XIE – EXECUTIVE VICE PRESIDENT AND CORPORATE SECRETARY

Mr. Xie is the Executive Vice President and Corporate Secretary of China Gold International Resources Corp. Ltd. (the “Company”) having joined the Company in March 2009. Mr. Xie is responsible for overseeing corporate secretarial matters and managing compliance for the Company’s listings on the Toronto Stock Exchange and Hong Kong Stock Exchange. He also plays an important role in business development, project evaluation, M&A process, investor relations, public relations as well as manages the Company’s daily operations in North America and Hong Kong. Prior to joining the Company, Mr. Xie had over 25 years’ experience in project management and material & mechanical engineering in the petro-chemical and oil-sand industry.

After joining the Company, Mr. Xie was involved in the Company’s HK IPO process, Jiama mine evaluation, merger and acquisitions and the recent bond issuance.

Mr. Xie is an alternative director of The World Gold Council on behalf of China National Gold Group Co., Ltd.

Mr. Xie is a Professional Engineer with APEGGA and holds a master’s degree in engineering from the University of Calgary, a master’s degree in mechanical and mining engineering from the Beijing University of Science & Technology.

 

LISHENG ZHANG – VICE PRESIDENT

Mr. Zhang joined the Company on September 12, 2008 as a chairman of Inner Mongolia Pacific Mining Co. Ltd., a subsidiary of the Company, which owns and operates a gold mine (the “CSH Gold Mine”). Mr. Zhang’s knowledge of local culture of Inner Mongolia and his experience contributed to the rapid and sustainable development of CSH Gold Mine. Mr. Zhang will oversee the overall management of the CSH Gold Mine.

 

DERRICK ZHANG – CHIEF FINANCIAL OFFICER

Mr. Zhang is a member of the Chartered Professional Accountants of Canada (CPA), a member of the Hong Kong Institute of Certified Public Accounts (CPA), and a member of the Association of Chartered Certified Accountants in the United Kingdom (ACCA). Mr. Zhang is also a Member of the Society of Economic Geologists in the United States. Mr. Zhang is a certified Merger and Acquisition Specialist (CMAS) from the Chartered Institute of Management Consultants in the United States. Mr. Zhang holds a Bachelor of Commerce degree distinction with a major in Accountancy from Concordia University in Montreal, Quebec, Canada and a Bachelor of Engineering degree (honors) in Geology from Southwest University of Science and Technology in China.

 

SHILIANG GUAN – VICE PRESIDENT

Mr. Guan joined Tibet Huatailong Mining Development Corp. Ltd. (“Tibet Huatailong”), the Company’s wholly-owned subsidiary, in November 2015, as Chairman of the Board, CPC Party Secretary and Legal Representative. On September 6, 2016 he was appointed as the Vice President of the Company. Prior to joining China Gold International, Mr. Guan served as Deputy Manager of the Production Technical Department of China National Gold Group Corporation from 2011 to 2014. He was also Chairman of the Board, CPC Party Secretary and Legal Representative of Inner Mongolia Baotou Xinda Gold Mining (“Xinda Mining”) Co., Ltd from 2014 to 2015, where he was responsible for the overall production and operations at Xinda Mining. Prior to 2011, Mr. Guan also held senior positions at Jilin Haigou Mining Company, Shaanxi Dongtongyu Gold Mine of Zhongjin Gold Corporation Limited, Zhongjin Gold Corporation Limited, Tongguan Zhongjin Gold Mining Co., Ltd, Zhongjin Gold Corporation Limited, Songxian Jinniu Co., Ltd. and Jinding Mining.

Mr. Guan is a senior professional mining engineer and has over 25 years of experience in the mining industry. Mr. Guan holds a bachelor’s degree in Mining Engineering from Northeastern University in China.

 

ZHONGXIN (GERARD) GUO – CHIEF ENGINEER

Mr. Guo was appointed as Chief Engineer of the Company in on November 13, 2018 Mr. Guo is a professional engineer with over 35 years’ experience in engineering studies, mine engineering and mine operations. He has served as a senior mining engineer and director of technical services for the Company since 2014. Previously Mr. Guo held senior mining engineer positions with global mining engineering consulting companies, working on a variety of projects for a wide range of clients, including some of the world’s largest mining companies. He also held the position of engineering director with the Mine and Gold Branch, Changsha Engineering and Research Institute of Nonferrous Metallurgy, leading design and consultancy of key national and provincial / ministry projects in China. In addition, he also assumed responsibilities of leading China’s strategic planning initiatives for development at new and existing nonferrous metals mines and smelters. Mr. Guo will serve as the Company’s internal qualified person for purposes of National Instrument 43-101 of the Canadian Securities Administrators.

 

SHARE CAPITAL SUMMARY AS OF DECEMBER 31, 2016

Issued & Outstanding: 396,413,753
Options Outstanding: 0
Warrants Outstanding: 0
Fully Diluted: 396,413,753

 

CONTACT

China Gold International Resources Corp. Ltd. offers a number of different methods for you to get in contact with management and/or request information that is vital to your investment strategy. If you have any questions that are left unanswered in our web site, please feel free to contact us via phone at (604) 609-0598 or e-mail at info@chinagoldintl.com. We will be happy to assist you in any way possible.

Corporate Office:

Email: info@chinagoldintl.com
Address: Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
Telephone:  +1-604-609-0598
Fax: +1-604-688-0598

Investor and Media Inquiries:

Telephone: 604-609-0598
Email: info@chinagoldintl.com

 

 

Posted November 28, 2019

Share this news article

RELATED COMPANY ARTICLES


The March/April 2020 Issue of the Prospector is Available for Download

04 The Four... READ MORE

February 27, 2020

China Gold International Resources Corp. Ltd. Provides Preliminary 2019 Production results and 2020 Outlook

China Gold International Resources Corp. Ltd. (TSX: CGG) (HKEx: 2... READ MORE

January 24, 2020

CHINA GOLD INTERNATIONAL REPORTS 2019 THIRD QUARTER FINANCIAL RESULTS - EBITDA $45M

China Gold International Resources Corp. Ltd. (TSX: CGG) (HKEx: 2... READ MORE

November 18, 2019

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions