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Sino-Australian JV To Develop the Biggest Gold Mine in September

The mine is capable of handling 1.2 million tons of gold ores a year

A Sino-Australian joint-venture for gold mine exploitation in southwest China's Guizhou Province is expected to begin operation in September this year, according to local government sources.

The Lannigou Gold Mine, to be built in partnership with an Australian gold company, will cost 815 million yuan (100 million U.S. dollars). The mine is capable of handling 1.2 million tons of gold ores a year.

The project is to turn out 180,000-200,000 ounces of gold.

Construction of the second phase is to start, upon the operation of the first phase in the latter half of this year.