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.
Shandong Gold-Mining began building a CNY 35 billion (USD 5.59 billion) gold base with an annual production capacity of 1 million tons and an annual production value of CNY 100 billion (USD 15.98 billion) in Laizhou, Shandong Province, China, on October 28, 2012.
The company expects to establish an ore dressing plant with a production capacity of 40,000 tons per day and another with a daily capacity of 80,000 tons in the base between 2012 and 2020.
Upon the completion of the base, Shandong Gold-Mining will be among the five largest gold companies in the world.
Source (Chinese): People via BrightWire News.
