NW China gold mine likely to be largest in Asia

An employee arranges gold jewellery in the counter in Yinchuan, Ningxia Hui autonomous region Aug 25, 2011. [Photo/Xinhua]

 
Local land and resource officials in Qinghai province estimate that Dachang gold mine is likely to become one of the largest gold mines in Asia with 300 tonnes in proven reserves in 2015.

The current proven reserve in Dachang mine in the Tibetan autonomous prefecture of Yushu is 195 tonnes, with another 35 tonnes expected to be confirmed by the end of 2011, according to the Qinghai Land and Resources Department.

The geological exploration was conducted jointly by Qinghai geology and mineral exploration and development bureau and a Canadian mining company -- with a total investment of 200 million yuan (31.3 million U.S. dollars).

Qinghai is endowed with rich mineral resources. The proven gold reserves of the province's six mines, including Dachang, is 430 tonnes.