Shandong Gold Group Conducts Deep Strategic Cooperation with Barrick Gold Corporation
Shandong Gold achieved deep strategic cooperation with world-class mining companies and financial institutions. On April 6, 2017, the strategic cooperation between Shandong Gold and Barrick Gold, that is, the signing ceremony for the development of Veladero Gold Mine in Argentina between Shandong Gold and Barrick Gold was held in Jinan, Shandong. The Veladero Gold Mine jointly developed by Shandong Gold with Barrick Gold, as the world's largest gold producer is the largest gold-producing mine in Argentina and the second largest gold-producing mine in South America. The signing of the two parties means that Shandong Gold takes a substantial step in overseas development and embarks on the journey of creating a truly international company, which can increase the reserves of overseas resources, advanced technology and international talents, etc. and enhance the global influence of Shandong Gold and even the Chinese gold industry.
On June 30, local time in Canada, the project was officially delivered. Since the date of delivery, Shandong Gold holds 50% interests of the project. The two parties held the first board meeting of the joint venture in Buenos Aires, the capital of Argentina, which marked the formal involvement of Shandong Gold in the operation and management of the project, and gave the milestone for Shandong Gold to march on Argentina mining industry.
This cooperation increases the gold output of Shandong Gold by over 10t per year, exceeding the annual output of the first gold producing mine in China. Among them, according to the estimation of gold output of the mine in 2016, from the end of June 2017 (that is, the delivery data) to the end of 2017, it is expected to increase the gold output of Shandong Gold by about 6.5t in half a year and realize the mergers & acquisitions, benefits obtaining and consolidated statement in the same year. This cooperation was named one of the “Top ten news of Chinese gold industry in 2017” and was also called by the leaders of Shandong Province as “One of the two successful international mergers & acquisitions projects of provincial management companies in 2017”.
Shandong Gold Group Participates in the China Mining Congress & Expo 2017 (19th)
The China Mining Congress & Expo 2017 (19th) was held at Meijiang Convention and Exhibition Center in Tianjin on September 23 to 25, 2017. Shandong Gold was invited to participate in the Congress with the theme of “Shandong Gold, Ecological Mining”, and Chairman Li Guohong attended the Congress. During the Congress, Songxin, Chairman of China National Gold Group, and Chen Jinghe, Chairman of Zijin Mining Group visited the Shandong Gold Exhibition Hall. Moreover, the China Mining News and www.gold.org.cn released continuous special reports on Shandong Gold.
The leaders of Shandong Gold attended the opening ceremony of the Congress and the “BOCI Night” activity themed with the “New Silk Road of Mining, while New Thoughts on Finance”. They met with the business delegation of Quebec, Canada; participated in the promotion conference for mining investment projects of Argentina and Canada, etc.; gave a special interview with the reporter of China Mining News to systematically describe the development strategy, international cooperation, scientific & technological innovation, ecological mining and social responsibility, etc. of Shandong Gold; participated in the 1st meeting of the 6th standing council of China International Mining Association and the inauguration ceremony and welcome conference for the international capacity cooperation enterprise alliance of China mining; delivered a keynote speech entitled “Promoting the Sustainable Development of Gold Mining with Green Innovation, Opening & Sharing” at the enterprise CEO forum of the Congress to discuss the global mining development opportunities and response strategies with senior managers of global mining companies; met with the responsible officials of the Canadian government department and the embassy in China; and presented a keynote speech entitled “Building an Ecological Mining with Unique Characteristics of Shandong Gold” at the gold and precious metal forum of the Congress to jointly discuss the key points of green development and investment construction along the “Belt and Road” with the representatives from the domestic gold industry based on the initiative of “Belt and Road”.