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.
Silver Dragon Resources said today its joint venture with Sanhe Sino-Top Resources & Technologies (Sino-Top) has approved an exploration program on three of its properties in northern China.
The China-focused explorer plans to undertake a total of 21,700 metres of drilling, tunnelling and trenching at Dadi, Laopandao and Aobaotugounao.
“We continue to aggressively develop our assets in China,” commented Marc Hazout, President and CEO of Silver Dragon Resources. “We have seen great success with Dadi and Laopandao and our Partners HIC and Shengda share in our enthusiasm to grow our resource base and develop all of our properties in the Erbahuo silver belt. This year, we are accelerating exploration at our Aobaotugounao property and preparing our Dadi project for production with the submission of our mining licence application with the ministry.”
Silver Dragon has a 40% interest in Sino-Top, which holds exploration rights to six silver properties in Inner Mongolia, China.
Read the full news release at Globe Newswire
