Jinfeng Gold Mine

The Jinfeng Gold Mine (Chinese: 金峰金矿) is a combined open pit and underground gold mining operation in the Guizhou province, China. The mine is owned by China National Gold Group Corporation. It was originally owned by Sino Gold Mining and then acquired by Eldorado Gold in 2009. Eldorado Gold sold its 82% stake in the Jinfeng Gold Mine to a wholly owned subsidiary of China National Gold Group for ~US$300 million in September 2016.[2]

Jinfeng Gold Mine
Location
Jinfeng Gold Mine is located in China
Jinfeng Gold Mine
Jinfeng Gold Mine
Location in China
ProvinceGuizhou
CountryPeople's Republic of China
Coordinates25°8′55″N 105°52′16″E
Production
ProductsGold
Production177,757 [1]
Financial year2011
TypeOpen pit/Underground
History
Opened2007 (2007)
Owner
CompanyChina National Gold Group Corporation
Websitewww.chinagoldgroup.com/eng/
Year of acquisition2016

Production at Jinfeng began in 2007.

History

The deposit was discovered in 1986, Sino Gold Mining received the mining licence in 2001.[3] Sino Gold's investment in the mine was the largest mining investment in the People's Republic of China by a foreign company,[4] and the first foreign company to mine gold in the PRC.[5] Construction of the Jinfeng Gold Mine started in 2005, and gold production began in 2007. Eldorado Gold acquired the property when they purchased Sino Gold in 2009.[1] As of 2010 Jinfeng was still the largest foreign-owned gold mine, and the second largest gold mine in the PRC. Despite owning the second largest gold mine in the country, in 2010 Eldorado only accounted for 3% of the PRCs total gold output.[6]

Geology

The deposit at the Jinfeng Gold Mine is a Carlin-type gold deposit (similar to those found in Nevada) in the "Laizhishan Dome" located in a region known as the "Golden Triangle". The Laizhishan Dome is made up of sedimentary rocks from the Silurian through the Late Triassic periods. The deposit itself is located between five faults, with gold being associated with pyrite and arsenopyrite.[3]

References
  1. "Jinfing Production Report". Eldorado Gold. Archived from the original on 22 June 2010. Retrieved 4 May 2013.
  2. "Eldorado Gold exits China, sells Jinfeng mine for $300 million". Mining.com. Retrieved 13 Dec 2016.
  3. Mike, Warren (10 October 2007). "Jinfeng Gold Mine" (PDF). SRK Consulting. Archived from the original (pdf) on 23 December 2010. Retrieved 4 May 2013.
  4. "CHINA - Jinfeng Gold mine receives development of year award". Asia Miner. Retrieved 5 May 2013.
  5. "Sino Gold prospecting its way to the top in China". China Daily. 9 December 2008. Retrieved 5 May 2013.
  6. Koven, Peter (4 December 2010). "How Eldorado Gold broke into China". Financial Post. Retrieved 5 May 2013.
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