BEIJING (Commodity Online) : China’s Bureau of Geology and Mineral Resources (BGMR) announced the discovery of fresh Gold findings in country’s Northwest Qinghai Province.

According to a report issued here BGMR has discovered 106 confirmed gold ore bodies in a gold mine in Dachang in the Province.

Trade commodities or equities from across the globe. Join Now

The gold mine, located in Maduo Township of Qumarleb County, Yushu Tibetan Autonomous Prefecture, is still being evaluated for Gold ore content, but is thought to contain over 300 tons of gold, according to the report.

The mine is expected to become a major gold resources development base in China.

The bureau plans to finish the prospecting work on the main gold area by the end of 2009 and to start development of the mine in 2010.

In 2008, China's gold production hit a record high of 282 tons, up 4.26% year on year.

The country's three leading provinces in gold production, Shandong Province, Henan Province and Jiangxi Province, together accounted for 46.4% of the total production last year.

Post your comment  (0)

Connect:

Post to Twitter

Post to Facebook