Chinese Gold Wins Resource War

China National Gold Group has made significant progress in expanding its mineral resources since 2008. By actively leveraging its capabilities and implementing a resource expansion and storage strategy, the company invested 2.4 billion yuan in independent exploration and over 10 billion yuan in resource acquisitions. In just six years, gold reserves increased from 275 tons in 2006 to 1,758 tons in 2012, securing the top position in China. Copper reserves rose from 1.25 million tons to 10.97 million tons, while molybdenum reserves grew from 200,000 tons to 2.07 million tons, placing the group among the top three in the non-ferrous metals sector. The company also significantly boosted reserves of silver, iron, lead, and zinc, securing a strong foothold in 16 key metallogenic belts across the country. This strategic positioning has established it as a leader in China's gold industry, driving innovation in resource utilization and sustainable development. To ensure long-term growth, the group focused on revitalizing old mines by exploring deeper and peripheral areas. Projects in regions like Inner Mongolia-Daxinganling and Qinling helped extend mine lifespans and uncover new reserves. Over the past five years, the company invested 1.3 billion yuan in deep exploration, completing 1.53 million meters of drilling and adding 366 tons of gold—surpassing the 275-ton reserve from 2006. In Henan’s Niutouou-Dongwan Mining Area, 49 rigs operated simultaneously, achieving 48,776 meters of drilling and discovering 68 tons of new gold. Similarly, in Inner Mongolia’s Changshanyu Gold Mine, 43 rigs completed 60,549 meters in seven months, adding 80 tons of gold. These breakthroughs not only boosted production but also enhanced the company’s global influence. A major success came from Inner Mongolia Jiniteng Mining Co., which transformed from a small mine with just a few hundred kilograms of reserves into a large-scale producer. Through efficient geological surveys and winter drilling, the company added 25 tons of reserves and now produces over 3,000 kg annually. In Henan, the Luchang Yechangping Mo deposit saw a major discovery, with 370,000 tons of molybdenum and 190,000 tons of tungsten identified. This expanded the deposit’s scale and laid the foundation for large-scale development. Mergers and acquisitions have played a key role in the group’s transformation. Over five years, it integrated more than 70 projects, increasing gold reserves by 660 tons, molybdenum by 150,000 tons, and iron ore by 100 million tons. Key bases like Inner Mongolia Wushan and Tibet Jiama now support sustainable growth. In Tibet’s Jiama area, the group partnered with leading experts, investing 300 million yuan to drill 200,000 meters. The area now holds nearly 20 million tons of copper and molybdenum, a 20-fold increase from 2007. This achievement was recognized as one of the top ten discoveries of 2009. The group is also focusing on new areas, investing 1.1 billion yuan in exploration over five years, adding 534 tons of gold, 7 million tons of copper, and 800,000 tons of molybdenum. In Hunan’s Huaihua region, low-grade gold deposits were developed using advanced technologies, adding nearly 60 tons of gold and easing regional resource constraints. Looking ahead, China National Gold Group aims to implement a “stabilize the country, expand overseas, focus on gold, and develop multiple metals” strategy. It plans to quadruple economic indicators from 2006, enter the Fortune Global 500, and build a world-class mining company. This will strengthen national resource security and promote sustainable development in the mining industry.

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