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Hengxing Gold placed among China Top Ten Gold Mines of Economic Benefits
2019.09.30 82

On August 29, the China Gold Association released the China Gold Yearbook 2019, which covers 15 lists like the China Private Gold Bar Brands Sales Rankings and the China Provincial (Regional) Gold Resource Inventory Rankings. Hengxing Gold Holdings Co., Ltd. (H shares) was placed the 12th in the China Sales Revenue of Listed Gold Companies and the 5th by production and operation efficiency. The Jinshan Gold Mine owned by Xinjiang Jinchuan Mining Co., Ltd., an affiliate to Hengxing Gold, was ranked among the China Top Ten Gold Mines of Economic Benefits.

 

Hengxing Gold (Jinshan Gold Mine): China Top Ten Gold Mines of Economic Benefits

Hengxing Gold Holdings Co., Ltd., invested by Mr. Ke Xiping, Chairman of Xiamen Hengxing Group and the former Zijin Mining shareholder, is an emerging gold mining business in China, which mainly specializes in gold mining, production and exploration. It was successfully listed on the Hong Kong Stock Exchange in 2014 (stock code: 2303). Over the past five years since its listing, the company has grown into a new gold business with a net profit of 38 million US dollars, a market value exceeding 750 million US dollars, and a dividend ratio of more than 30% for three consecutive years. Jinshan Gold Mine has cuts a figure as one of the largest single gold mines in Xinjiang with an annual processing capacity of 5 million tons and a production volume of over 90,000 ounces in 2018. According to the China Gold Yearbook issued on August 29, Hengxing Gold Holdings Co., Ltd. was placed the 12th in the China Sales Revenue of Listed Gold Companies and the 5th by production and operation efficiency, while Jinshan Gold Mine was ranked among the China Top Ten Gold Mines of Economic Benefits.


 

China tops global gold production

The 2019 yearbook indicates that China's total gold output hit 513.90 tons in 2018, ranked the first in the world. China has maintained the ranking for 12 consecutive years since 2007. In 2018, China's gold production accounted for about 11% of the global total volumes, down 0.93% from 2007. The gap between China and the second place holders dropped from 133 tons in 2007 to 86 tons in 2018. By the end of 2018, China has identified 13,638.40 tons for gold resources, a net increase of 3.36% or 442.84 tons over the previous year. Rock gold accounts for 11573.57 tons, an increase of 4.05% or 450.52 tons compared to 2017, while the inventory of associated gold reaches 1574.42 tons. 2018 symbolized the 14th year of steady increase seen in China's gold resource reserves, the fourth year of breaking through the 10,000-ton mark. The basic reserve was ranked the 8th in the global gold reserve.

 

In 2018, China's gold consumption grew to 1151.43 tons, seeing a year-on-year rise of 62.36 tons or 5.73%. China has been the world's largest gold consumer for six consecutive years. The same year, the total demand for gold in China hit 1,773.23 tons, a year-on-year increase of 0.51% or 9.06 tons, topping the global list. China continues to maintain the world's largest gold supplier and holds the largest need for gold.


 

Large gold enterprise groups serve as the main force of China's gold production

In terms of gold trading, the total trading volume of the Shanghai Gold Exchange in 2018 was 67,500 tons, seeing a year-on-year increase of 24.35%, while the turnover reached 18.3 trillion yuan, a year-on-year increase of 22.23%. At present, the large-scale gold enterprise groups are the main force of China's gold production, holding the majority of domestic gold mineral resources. In 2018, the large-scale gold enterprise group owned a gold reserve of 7171.45 tons, a year-on-year increase of 11.80%.

 

In 2018, China's leading gold enterprises produced 320.91 tons of gold finished products, seeing a 3.96% year-on-year growth, accounting for 62.45% of the country's total volumes. The production of mineral gold reached 152.45 tons, a year-on-year increase of 1.91%, accounting for 44.06% of the total volumes in China. In recent years, to strengthen the core competitiveness of enterprises has become the foundation of gold mining development. Major gold businesses are gaining access to and integrating high-quality gold mineral resources nationwide. Going overseas is a new trend for Chinese gold companies as China's gold industry has shifted from a high-speed growth phrase to high-quality development and ushered into the critical period of optimizing industrial structure to gain momentum in growth.


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