China Gold International (02099) announced that the Jiama mine started the first phase on December 15, 2023...
Zhitong Finance App News, China Gold International (02099) announced that the Jiama mine has gradually resumed production since the first phase of plant selection on December 15, 2023, with a daily processing volume of 6,000 tons of ore. Since the resumption of work at the Phase II plant selection depends on the results of the government's review of the tailings emission plan, the time for the resumption of work is uncertain. In this context, the company reported production guidelines for each of the two mines in 2024.
The expected gold production range of the Changshan Trench mine in 2024 is 106,097 ounces to 112,528 ounces (about 3.3 tons to 3.5 tons).
The company expects the Jiama mine to obtain approval from the government to resume work in early May 2024. After approval is obtained, the Jiama mine will resume production with a daily processing capacity of about 34,000 tons/day according to the design scale of the Phase II plant. Since the actual time to resume production depends on the final approval date of the government, the following annual production guidelines are uncertain; the expected copper production range in 2024 is 95.0 million pounds to 98.0 million pounds (about 43,200 tons to 44,500 tons); the expected 2024 gold production range is 42,439 ounces to 45,333 ounces (about 1.32 tons to 1.41 tons).