A total of 22 workers were trapped underground in the Hushan gold mine on the outskirts of Yantai, on China's eastern coast.

Company expects an attributable gold production between 630,000 and 700,000 ounces in 2021.

Bullion extended its gains following Tuesday’s comments from Biden’s Treasury Secretary nominee Janet Yellen that weakened the dollar.

Over the 11-year mine life, average annual gold production is forecast at 287,000 oz.

Updated measured and indicated resources now total 33.5 million tonnes at 5.8 g/t gold, for a total of 6.3 million gold oz.

The Donlin deposit is said to host one of the largest and highest-grade undeveloped open-pit gold endowments in the world.

A total of 22 workers were left trapped in the Hushan mine, in Shandong province, after an explosion on Jan. 10.

Resignation comes a month after Nick Mather was handed a strong rebuke at the company’s annual meeting, when nearly half of shareholders voted against his reappointment to the board.