China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
Canadian miner Eldorado Gold (TSX:ELD) (NYSE:EGO), which recently closed its acquisition of European Goldfields, expects its yearly gold production to touch 1.7 million ounces within five years as it brings new mines into production, said the company today.
The miner added it plans to commission five new mines over the next few years, taking its global footprint to 12 operations by 2016.
“Eldorado plans on expanding gold production by roughly 160% over the next five years, making it one of the fastest growing emerging senior gold producers globally,” said CEO Paul Wright.
Eldorado operates in China, Turkey, Greece and Brazil.
