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China Welcomes Foreign Companies to Explore Gold
A Chinese official has said that China welcomes foreign companies to become involved in gold exploration in the country.
Wang Dexue, director of the Gold Bureau of the State Economic and Trade Commission, said at a recent meeting in Yantai that China is making a plan to mine gold in its vast western region and "foreign participation is especially encouraged."
He said that their engagement will bring in a good return.
According to Wang, China's gold mines are now mainly in the eastern and central regions and the gold output has decreased after decades of mining.
It is high time for China to explore gold in the western region and establish a new gold production belt there, the official said.
He added that this is in line with the country's ambitious plan to develop the western region comprised of 12 provinces and autonomous regions.
Earlier this year China gave the green light to multinationals which hope to explore mines in the western region and vowed to provide them with preferential policies.
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