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Shandong to boost gold industry 

By Li Jiaxia (China Daily)
Updated: 2009-06-04 13:35

JINAN: The output of gold in Shandong province is expected to reach 67 tons and even 200 tons on deep processing gold by 2011, according to a plan approved by Shandong province to adjust and revive its gold industry. The province is striving for an average annual growth rate of 12 percent.

The Shandong Provincial Economic and Trade Commission (named the Economic and Information Commission after reformation) and Shandong Golden Group jointly made the revival plan to speed up development of the Shandong gold industry, improve the design and research capability of the deep processing gold industry, further elongate the gold industry chain and transform resource advantages of the province to the advantage of the industry.

Shandong province will accelerate technology advancement and system reconstruction in a group of large gold enterprises and focus on fostering five large synthetic enterprises — Shandong Gold Group, Zhaoyuan Gold Group, Penglai Gold Group, Zhongkuang Gold Industry and Hengbang Smelting Corporation. The five enterprises have synthetic capabilities in mining, selecting and smelting, with a productivity scale of over 10 thousand tons, amounting to over 10 billion yuan in sales. In order to compete with international gold mining giants, the Shandong gold industry will be integrated and fostered to form a large international gold group.

Advancing the development of gold production used in high-class jewelry, the craft and high-tech industry and enhancing the added value of gold products are being proposed in the plan.

As the largest producer of gold in China, Shandong province is the leading place for technical equipment and production technology in the mining and smelting fields. In 2008, the total output of mineral gold of Shandong province was 47.62 tons, accounting for 21 percent of the total gold output in China.

China Daily Shandong Bureau