Yintai Goldis devoted to the exploration, mining, dressing and sales of nonferrous and rare metals, and investment in mineral resources. Currently, Yintai Gold (000975.SZ) holds an Ag-polymetallic mine with the largest reserve and highest monomer silver grade in China. Yintai Gold will make more effort in resources exploration and acquisition utilizing its own mining and exploration rights, and consolidate existing resources, expand project investment channels and nonferrous metals variety, and initiate diverse forms of cooperation projects to achieve stable and progressive development, and try best to become a listed domestic resources company with significant influence.
Yintai Gold (000975.SZ) acquired Canadian gold producer Eldorado Gold Corporation’s gold mines in China in November 2016. The mines involved are Dong’an Gold Mine of Heilongjiang Heihe Luoke Mining Company, Jinying Gold Mine of Jilin Banmiaozi Mining Company and Tanjianshan Gold Mine of Qinghai Dachaidan Mining Company; in particular, it includes four mining rights and nine exploration rights with abundant gold reserves, and of generally higher grades. The acquisition has brought Yintai Gold (000975.SZ) enormous high grade gold resources and reserves, which further enhances the company's competitive strength and ability to withstand risks, as well as its status in the non-ferrous metals industry. It has also increased the company’s total assets, further improved its financial structure, and raised profitability, and will generate better returns for all shareholders. In addition, the acquisition will allow the company to gain internationally advanced mining technology and mine management experience, management models as well as a team of international talent, laying the foundation for sustainable growth for the company. Leveraging this opportunity, the principal activities of Yintai Gold (000975.SZ) will shift from gold mining primarily to a new development phase.
High-grade gold assets and abundant resource reserves
Dong’an Gold Mine of Heihe Yintai represents the best quality of its kind in China so far with silver associated, and is now exploited both in opencast and underground. Dong’an Gold Mine went into operation and produced gold in Xunke County on September 29, 2017.
Jinying Gold Mine of Jilin Banmiaozi Mining is high in grade, rich in reserve and greatly explored, guaranteeing sustainable and stable production in future. Underground ramps are used for exploitation and transportation. This mine is a modern international leader, especially pioneering the industry in terms of safety and environmental friendliness.
Tanjianshan Gold Mine of Qinghai Dachaidan Mining has good mining conditions and strong resource base, accompanied with extensive prospecting rights and bright prospect of reserve increasing. Multiple mining methods will be combined in future production. Tanjianshan Gold Mine, being a provincial green mine, places special attentions on safety and environmental friendliness.
Silver-polymetallic ore with largest reserves and highest monomeric silver grade
Inner Mongolia Yulong Mining is located within the Greater Khingan nonferrous metal metallogenic belt in the northeast of Inner Mongolia. The mine is rather concentrated with abundant ore resources and higher grade in silver, lead, and zinc ores. With the largest domestic silver yield (silver content) in a single mine, annual silver output reaches about 150 tons. Lead-zinc concentrate fine ore yield classifies it as a large-scale mine. These features make Yulong one of the listed mining companies with highest gross profit rate in China.