CGG:CC - China Gold International Resources Announces the Resumption of Operations at its Jiama Copper-Gold Polymetallic Mine
(TheNewswire)
VANCOUVER, May 30 , 2024 – TheNewswire – China Gold International Resources Corp. Ltd.(TSX: CGG; HKEx: 2099) (“ China Gold International ” or the“ Company ”) is pleased to announcethat the operation of the Phase II process ing plant has been resumed at its JiamaCopper-Gold Polymetallic Mine (the “ JiamaMine ”) effective May 30 , 2024, following thereceipt of approval from the Government of TibetAutonomous Region .
On March 27 , 2023, the operations of the Jiama Mine were suspended due to a tailingsoverflow at the Guolanggou Tailings Dam (the“ Overflow ”) . During the suspension ofoperations, the Company actively carried out comprehensive repair andreinforcement work at the Guolanggou Tailings Dam.
With the approvals of theGovernment of Tibet Autonomous Region and relevant departments ofthe central government, the Phase II processing plant will resumeoperations with a daily processing capacity of 34,000 tonnes. ThePhase I processing plant which has been in operation during theproduction ramp up phase will cease operations. The Company isactively advancing the construction of the Phase III tailings dam,which is expected to be completed and put into operation in the firsthalf of 2026.
“I would like to take this opportunity to express mygratitude to the whole team at Jiama Mine for their dedication andunwavering efforts during this difficult time. I also want to extendspecial thanks to our shareholders and regulatory authorities fortheir support and understanding. The Company is committed to putparamount importance to safety and environmental protection inmanaging its production and operations,” stated Junhu Tong, theCompany’s Chairman and CEO, "We are proceeding cautiouslyin resuming operations and ramping up productions. The root causes ofthe Overflow have been thoroughly reviewed and the lessons learnedwill be applied in future operations, as well as in the design andconstruction of Phase III tailings dam. Health, safety andenvironmental protection will remain our top priorities."
AboutChina Gold International Resources
China Gold International Resources is a gold and basemetal mining company incorporated in BC, Canada and operates twomines, the CSH Gold Mine in Inner Mongolia, China and the JiamaCopper-Gold Polymetallic Mine in Tibet, China. The Company’sobjective is to build shareholder value through growing production atits current mining operations, expanding its resource base, andacquiring and developing new projects internationally. The Company islisted on the Toronto Stock Exchange (TSX: CGG) and the Main Board ofThe Stock Exchange of Hong Kong Limited (HKE X : 2099).
For further information on the Company, please refer toSEDAR’s website at www.sedar.com, The Stock Exchange of Hong KongLimited’s website at www.hkex.com.hk, the Company's website atwww.chinagoldintl.com, or call the Company at +1-604-609-0598 andemail to info@chinagoldintl.com.
Cautionary NoteAbout Forward-Looking Statements
Certain information regarding ChinaGold International Resources contained herein may constituteforward-looking statements within the meaning of applicable securitieslaws. Forward-looking statements may include estimates, plans,expectations, opinions, forecasts, projections, guidance or otherstatements that are not statements of fact. Although China GoldInternational Resources believes that the expectations reflected insuch forward-looking statements are reasonable, it can give noassurance that such expectations will prove to have been correct.China Gold International Resources cautions that actual performancewill be affected by a number of factors, most of which are beyond itscontrol, and that future events and results may vary substantiallyfrom what China Gold International Resources currently foresees.Factors that could cause actual results to differ materially fromthose in forward-looking statements include market prices,exploitation and exploration results, continued availability ofcapital and financing and general economic, market or businessconditions. The forward-looking statements are expressly qualified intheir entirety by this cautionary statement. The information containedherein is stated as of the current date and subject to change afterthat date.
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