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A gold mine jointly developed by China and Australia will go into operation in southwest China's Guizhou Province in September and is expected to become the largest mine of its kind in Asia.

 

The official Xinhua News Agency reports the Lannigou Gold Mine has received a total investment of more than 800 million yuan, or nearly US$100 million. It has an estimated annual production capacity of between 180,000 and 200,000 ounces of gold with deposits potentially lasting for about 15 years.

 

The gold mine is currently controlled by Sino Gold Limited, a company based in New South Wales, Australia.

 

(CRI March 6, 2006)