China Gold International Resources Corp Ltd

Description

China Gold International Resources is the primary international arm of state-owned China National Gold Group, operating two producing mines, the Jiama Copper-Gold Polymetallic Mine in Tibet (100% interest) and the Chang Shan Hao (CSH) open-pit heap-leach gold mine in Inner Mongolia (96.5% interest). A transformational June 2026 resource update at Jiama increased measured mineral resources by 523% and proven mineral reserves by 1,170%, bringing combined underground and open-pit proven and probable reserves to roughly 665 million tonnes containing approximately 5.6 million tonnes copper, 8.3 million ounces gold, and 356 million ounces silver, supporting a mine life the company describes as over 20 years.

2026 guidance calls for Jiama copper production of 140-149 million pounds alongside 70,732-75,554 ounces gold, with CSH adding a further 70,732-83,592 ounces gold, while Jiama's processing capacity is expected to expand toward its designed 50,000 tonnes-per-day capacity by 2028 following completion of the Youlongbu Tailings Storage Facility in 2027. CSH's most recently disclosed AISC was US$1,148 per ounce as of December 31, 2024. The company reported 2024 revenue of US$756.6 million and US$65.3 million net income, with 10% higher gold output and 139% higher copper output year-over-year.

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List of projects

1. Project 1: Jiama Copper-Gold Polymetallic Mine — 100% interest, Tibet Autonomous Region, China; metals: Copper, Gold, Silver, Molybdenum.
2. Project 2: Chang Shan Hao (CSH) Gold Mine — 96.5% interest, Inner Mongolia, China; metals: Gold.

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