Singapore 18/02/2016 - China Gold International Resources expects its copper production at 38.6 million pounds (17,509 tonnes) in 2016, up 1.3 percent from output in 2015, the Hong Kong- and Toronto-listed copper and gold miner said on Wednesday.
The company had produced 38.1 million tonnes of copper in 2015, up nine percent from the previous year while exceeding guidance of 37.5 million pounds.
China Gold’s copper production comes from its Jiama copper-gold mine in central Tibet, China.
The company’s total gold production - from Jiama and the Changshanhao gold mine in Inner Mongolia, China - rose 26 percent to 228,508 ounces in 2015, surpassing guidance of 226,000 ounces.
Jiama’s gold output is expected at 16,000 ounces this year, down from 24,037 ounces in 2015.
China Gold said it considers the 2016 production levels level to be optimal given the current copper price environment. Jiama mine has sufficient capacity to increase production in a timely manner when copper prices recover, it added.
China Gold is the only overseas-listed arm of China National Gold, China's largest gold producer and 39 percent shareholder of China Gold, according to the latter.