2009-03-10 Zhengzhou
Zhengzhou, Henan province, China saw an impressive increase in sales of gold jewelry in January, as consumers became more cautious given the current economic environment. Statistics show that sales volume of gold jewelry was four or five times that of platinum jewelry during the month.
2009-03-03 Hong Kong
Real Gold Mining Limited, whose retail offering was said to be 67 times oversubscribed, has seen its share price drop steeply as the gold price plunges. The company's shares declined 34 percent within five days after it launched IPO, leading the net worth of Wu Ruilin, a controlling shareholder of Real Gold Mining, to decrease by some HK$1.4 billion (approx US$180.6 million).
2009-02-06 Beijing
Zhongjin Gold Corporation expects its net profits for 2008 to grow over 100 per cent from a year earlier, thanks to the acquisitions of nine mine enterprises by its controlling shareholder China National Gold Group as well as the higher gold prices in 2008. The company reported net profits of RMB256 million (US$37.6 million) and net earnings per share of RMB 0.92 (approx. US$0.14) in 2007.
2009-01-13 Yinchuan
Gold prices rose by RMB 10, or approximately US$1.5, per gram on the average over the middle of December 2008 in Yinchuan, Ningxia Hui Autonomous Region. The price for pure gold increased to RMB 248 (approx. US$36.2) per gram from RMB 238 (approx. US$34.7) per gram.
2009-01-05 Zhengzhou
Affected by the increased prices for gold in the international markets, major jewelry brands in Zhengzhou, Henan’s capital city, revised up marketing prices for golden jewelries on Dec 30. The price for just gold increased to RMB249/gram (approximately US$36.5/gram) on Dec 30, up more than RMB10/gram (approximately US$1.46/gram) from RMB230/gram (approximately US$33.7/gram) on Dec 29.
2008-12-25 Jinan
Shandong Gold Mining, one of China’s largest gold mining groups, announced that the company plans to acquire approximately a 73 per cent stake in Chifeng Chaifu Lanzi Gold Mining for RMB260 million (approx.US$38 million ). The planned acquisition is in line with Shandong Gold Mining’s overall strategy as it will increase the company’s gold reserves and profits while reducing its production costs. Chifeng Chaifu Lanzi Gold Mining recorded sales and net profits of RMB104 million (approx.US$15.3 million) and RMB45.9 million (approx. US$6.8 million) respectively for the first ten months of this year.
2008-12-22 Beijing
According to statistics released by the gold administration of the Qianxinan autonomous prefecture, consolidated gold mining output in the area reached approximately 11,000kg for the first 11 months.
2008-12-19 Changsha
The No.11 Gold Team of the Armed Police Force of China recently discovered a major gold mine, with reserves of more than 30 tons, in Baimashan, Hunan province, China. The mine is expected to contribute over RMB6 billion, or approximately US$878 million, in potential economic benefits.
2008-12-18 Changchun
Prices for gold jewelry in Changchun city, Jilin province will be revised up by RMB10/gram (approximately US$1.5/gram) from 17 December, mainly attributable to rising international gold price. Prices for platinum jewelry in the city will remain unchanged.
2008-11-28 Zhengzhou
Zhongjin Gold Co., Ltd, one of China’s major gold miners, said recently it plans to build a gold smelting facility in Central China’s Henan Province for a total investment of RMB60 million. Once completed, the new smelter is expected to process 200 tons of gold concentrate a day, and produce 2,161 kilograms of alloyed gold, and 1,780 kilograms of silver a year.
