Shandong Gold Mining Investment Symposium Held in Toronto, Canada
In the morning of July 25, 2019 in Canada, Shandong Gold Mining Investment Symposium was held in Toronto, the largest city of Canada. Li Tong, Consul ofConsulate-General of the PRC in Toronto, Rob Krcmarov, Executive Chairman and Executive Vice President of Barrick Gold Corporation, Richard Tory, head of Morgan Stanley Mining and Canada Investment Bank, and Chen Yumin, Chairman of Shandong Gold Group, addressed the meeting and witnessed the kickoff ceremony of the Canadian Office of Shandong Gold Group.
In his speech, Chen pointed out that in recent years, Shandong Gold has made remarkable strides towards the strategic objective of “a world Top 10 mining enterprise” set forth in its 13th Five-year Plan. We constantly improved the industrial structure, deepened the reform and innovation approaches, adhered to ecological mining practices, and built up the mining-centered competitive strengths. We reported satisfactory progresses in both innovation and development, profits and business scale, and industrial status and brand visibility. Our annual gold output reached 47.75 tons, ranking No. 1 in China and No. 12 in the world. We became a member of the World Gold Council in 2018. We boast one of the largest gold reserves. Particularly, Xiling Gold Mine was discovered in Jiaodong, where the gold reserve was recorded 382.58 tons and is expected to reach 550 tons or more, making it the largest gold mine ever found in China. We have industry-leading gold mining, sorting and smelting technologies, and patented offshore mining technologies. We have set up a world-class gold production base and Asia’s largest gold refining base in Shandong Peninsula. We made overseas mining investment a development portal. In 2017, for example, we reached the partnership with Barrick Gold Corporation in operating Veladero, the largest gold mine in Argentina. Both sides made in-depth cooperation and escalated Veladero business performance. In 2018, SD-Gold (HK01787) successfully launched IPO in HKEX.
Chen added that the inauguration of the Canadian Office was a milestone for the Group’s overseas mining investment. Shandong Gold is committed to comply with local laws and regulations, standardizing corporate management and fulfilling its corporate social responsibilities. The representative office will be a window to our overseas mining investment business, a platform for the win-win cooperation between world’s gold mining companies, and a bridge between the Group and the wider world. In the pursuit of open, inclusive development, we’d like to share the opportunities with present mining companies, investment banks and intermediaries, and join hands with you to seek mutual benefits and help the Group create values for more people and communities.
The attendees also watched the English promotion film of Shandong Gold. In their addresses, Li Tong, Rob Krcmarov and Richard Tory expressed warm congratulations on the opening of the Toronto Office. They believed Shandong Gold would accomplish the objective set forth in its“13th Five-Year Plan” and would have a bright future in North America. They also extended their wishes to deepen cooperation for mutual benefits, and work together for the prosperity of the international mining industry. The leaders of Shandong Gold made extensive and in-depth communication with the attendees, and accepted media interviews.
Toronto owns a thriving mining capital market as well as the world's largest mining trading platform. There are more than 1,400 mining companies listed on the main board or the GEM in the Toronto Stock Exchange, accounting for about 60% of the global mining companies. The establishment of the Toronto Office will not only further strengthen the in-depth strategic cooperation with Barrick and promote the joint operation of Veladero, but also help expand Shandong Gold's mining investment and resource acquisition in North America and around the world, form new growth points for its overseas business, improve its overseas financing capacity and capital market valuation, and maximize its brand influence.
More than 100 people attended the meeting, including Toronto Stock Exchange，PDAC, representatives from financial institutions such as Bank of China (Canada), Industrial and Commercial Bank of China (Canada), Toronto Branch of China Construction Bank and Toronto Office of Bank of Communications, international gold companies such as Barrick Gold Corporation, Iamgold, Kinross, Agnico Eagle, Yamana Gold, Centerra, McEwen Mining, Continental Gold, Detour, Teranga and Raxgold, international investment banks such as Morgan Stanley, Merrill Lynch, Citibank, CIBC, BMO, RBC, HSBC, Postone Capital, Rothschild, Standard Chartered Bank, Toronto Branch of Lazard Bank, Scotiabank and Cutfield Freeman, as well as international mining consulting companies, technology agencies, law firms, accounting and taxation offices, and Chinese and foreign news media.