China Gold International Resources reported that it expects to increase total gold production from its Chinese operations to about 235,000 oz while copper production is expected to be steady at about 38.6 million lb. Most of the increase in gold production will be from the Chang Shan Hao (CSH) gold mine in Inner Mongolia.
Consolidated gold production at CSH and Jiama during 2015 was 228,508 oz, which was 26% more than the 180,674 oz produced in 2014. The 2015 total also surpassed the company’s guidance of 226,000 oz.
CSH gold production increased by 25% to 204,471 oz in 2015 and the mine is expected to produce about 219,000 oz in 2016.
Gold production from the Jiama copper-gold polymetallic mine in Tibet Autonomous Region increased by 39% from 17,231 oz in 2014 to 24,037 oz in 2015. Copper production increased by 24% to 38.1 million lb in 2015. It was the fifth successive year of increasing production at Jiama and the company exceeded its 2015 expected copper production guidance of 37.5 million lb.
China Gold International expects its 2016 production from Jiama to be approximately 38.6 million lb of copper and 16,000 oz of gold. The management considers this level of production to be optimal given the current copper price environment. The mine has sufficient capacity to increase production in a timely manner when copper prices recover.