Case Studies of Australian Businesses in China
Sino Gold Limited
Sino Gold Limited is an unlisted Australian public company with gold mining interests in China. This company grew out of the Chinese government owned Sino Mining International Limited. A variety of Australian and international investors control the company. To date, Sino Gold is the only internationally managed and operated gold mining company in China. The company currently is restructuring its capital base and will seek listing on the ASX.
Sino Gold's major project is the 95 000 ounce per annum Jianchaling gold mine in Shaanxi province, one of China's largest gold mines. The company also is exploring opportunities in Guizhou and Sichuan Provinces. Sino Gold combines international expertise and environmental management technologies with Chinese skills and material inputs to achieve high productivity and low operating costs.
Sino Gold is encouraged by China's expanding mining opportunities and developing business environment, including the gradual deregulation of the gold market. The Government is reforming important laws dealing with mining tenure, licences and exploration, making it easier to secure relevant licences and approvals. Furthermore, WTO entry and the Government's "Go West" policy of encouraging FDI in the western provinces are improving attitudes towards using foreign capital to develop mineral and energy resources. In particular, local communities increasingly welcome foreign investment, including offering fiscal and infrastructure provision incentives. Sino Gold is very positive about the medium term future of resource development in China.
Source: Sino Gold Limited, 2002.
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