China, Australia jointly build Asia's largest gold mine

Lannigou gold mine, the largest one in Asia, jointly developed by China and Australia will be put into operation in Sep. 2006.

Praised as China's gold prefecture, Qianxinan Buyi and Miao Autonomous Prefecture in Southwest China's Guizhou province is rich in gold resource. With a total investment of some 815 million yuan, the gold mine is expected to go into operation in September 2006. It is estimated that the annual volume of ore processed can hit 1.2 million tons, annual gold output some 180,000 to 200,000 ounces, and the resources can be exploited for 15 years.

China and Australia signed an agreement of cooperation in April 2000 and Sino Gold Ltd. launched prospecting and drilling mission at Lannigou gold mine in June 2002. The additional risk exploration from last year shows that the proven gold deposits there reached 110 tons.

By People's Daily Online