CNGC Secured More Copper Reserves in 2011

According to China Land and Resources Newspaper, the reporter learnt from the working conference of China National Gold Group Corporation (CNGC) that the corporation has again achieved great achievements in terms of its reserve increase strategy in 2011. The corporation increased its reserves by 215 tons of gold, 370,000 tons of copper and 580,000 tons of molybdenum. The company has 1,384 tons of recoverable gold reserves, accounting for 1/5 of the national total proved gold reserves and ranking the first in China.

It is reported that CNGC has adopted the following 4 ways since 2007: prospecting campaign in new mining areas, deep prospecting in old mining areas, resource integration around the existing enterprises and project merger &acquisition. The corporation has carried out the resource reserve increase strategy to enhance development potential of the enterprise. At present, CNGC’s recoverable mineral resources are as follows: 1,384 tons of gold, 9.9 million tons of copper, 2.01 million tons of molybdenum, 8,790 tons of silver, 570,000 tons of lead& zinc and 370,000 tons of tungsten.