Copper price set for worst week since 2022 as China Plenum disappoints
Copper prices have retreated from a record hit in May on concerns about the strength of demand in China.
Silvercorp’s success in China is founded on two pillars: early investments and real engagement with local communities and governments, says Chairman and CEO Rui Feng who was interviewed by MINING.com at this year’s Prospectors & Developers Association of Canada’s International Convention.
“In 2016, our tax revenue in China was [about] $50 million, which became part of the local economy,” he explained.
Besides establishing the company’s presence in terms of employment and financial contributions, Silvercorp’s CEO said that the key to running successful mining operations in the Asian giant is to comply with the country’s strictly enforced environmental laws.
“The tailings in China is a sensitive issue because in the past 10 years a lot of tailing dams in mining operations have collapsed,” says Feng.
“Basically, the mind there is zero discharge, so we have to make sure that there is no discharge of wastewater into the environment. We have been complying with that from day one.”
A recent report by AMC Consultants praised Silvercorp’s tailings management facilities at its Ying silver-lead-zinc property in the Henan Province. According to AMC, about 75% of the process water is recycled to the plants.
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