China Trade Information

Zhongjin Gold Corp<600489>, China’s largest publicly traded gold miner by market value, announced on Wednesday that it would spend RMB 226.9 million to build a gold smelter in Henan province.

Zhongjin will set up a wholly-owned subsidiary within one year with a registered capital of RMB 60 million to operate and manage the smelter, said the company.

The new smelter is designed to have a daily capacity of processing 200 tons of gold concentrate and produce 2,161 kilogram of gold and 1, 780 kilogram of silver per year.

Sales revenue of the new smelter is expected to be RMB 410 million and after-tax profit to reach RMB 26.67 million.

Shares of the gold miner fell 1.99% to close at RMB 31.46 on Wednesday.

Tags: gold

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