Shandong Gold Says It May Have Found China's Biggest Gold Mine
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Shandong Gold Group Co., China’s No. 2 producer by output, said it discovered deposits in eastern China that could be the nation’s largest discovery as it pushes to add reserves.
The Xiling mine in Shandong province told local authorities it had found 382.58 tons of gold reserves and that the volume could reach more than 550 tons once exploration is completed in two years, which would make it China’s largest mine, according to a statement Tuesday that cited the company on sdchina.com, a website supervised by the provincial government. Operating at full capacity, the mine would have a life of 40 years, according to the statement.