Shandong Gold Group is a state-owned

Chinese Chinese may refer to: * Something related to China * Chinese people, people identified with China, through nationality, citizenship, and/or ethnicity **Han Chinese, East Asian ethnic group native to China. **'' Zhonghua minzu'', the supra-ethnic ...

gold mining company under the

provincial government A state government is the government that controls a subdivision of a country in a federal form of government, which shares political power with the federal or national government. A state government may have some level of political autonomy, o ...

Shandong Shandong is a coastal Provinces of China, province in East China. Shandong has played a major role in Chinese history since the beginning of Chinese civilization along the lower reaches of the Yellow River. It has served as a pivotal cultural ...

. The company is the second-largest producer of

gold Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...

in China by output and its publicly listed subsidiary ranked #1,898 in the

Forbes Global 2000 The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by: sales, profit, assets and market value. The list has been published annually since 2003. By country Forbes Global 2000 as of 2023: ...

Corporate affairs

Shandong Gold Group is the parent company of Shandong Gold Mining, which is publicly listed on the

Shanghai Stock Exchange The Shanghai Stock Exchange (, SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock ...

. As a state-owned enterprise, it is directly supervised by the

State-owned Assets Supervision and Administration Commission The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the State Council of the People's Republic of China. It was founded in 2003 through the consolidation of various other indus ...

(SASAC) of the Shandong Provincial Government. In September 2018, Shandong Gold formed a strategic partnership with Canadian mining giant

Barrick Gold Barrick Mining Corporation is a mining company that produces gold and copper. It has mining operations and projects in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Ecuador, Egypt, Mali, Pakista ...

, involving mutual cross-investment of up to $300 million. This followed the acquisition of a 50% stake in Barrick's Veladero mine in Argentina in 2017. Shandong Gold is a member of the

World Gold Council The World Gold Council is an international trade association for the gold industry. It is headquartered in London and has offices in India, China, Singapore, the UAE and the United States. The organization's members are gold mining companies. ...

, a global industry body promoting responsible gold mining practices.

Shanjin International Gold

Shanjin International Gold Co., Ltd. (formerly Yintai Gold Co., Ltd.), a subsidiary of Shandong Gold, focuses on precious metals and non-ferrous metal mining, exploration, and trading. Listed on the

Shenzhen Stock Exchange The Shenzhen Stock Exchange (SZSE; ) is a stock exchange based in the city of Shenzhen, in the People's Republic of China. It is one of three stock exchanges operating independently in Mainland China, the others being the Beijing Stock Excha ...

(000975.SZ), Shanjin International operates four domestic gold mines—Heihe Luoke, Jilin Banmiaozhi, Qinghai Dachaidan, and Mangshi Huasheng—as well as Inner Mongolia Yulong, a lead-zinc-silver mine. In February 2024, Shanjin International announced the acquisition of Osino Resources Corp., a Canadian gold exploration company, for CAD 368 million, marking its first major overseas acquisition.

Operations

Shandong Gold Group is one of China’s leading gold producers, with mining and exploration projects across multiple Chinese provinces and a growing international footprint. The group is also involved in the mining of nonferrous metals such as copper and silver through its wholly owned and joint-venture operations.

Domestic gold mining

Shandong Gold operates 12 active domestic mines in

Inner Mongolia Inner Mongolia, officially the Inner Mongolia Autonomous Region, is an Autonomous regions of China, autonomous region of China. Its border includes two-thirds of the length of China's China–Mongolia border, border with the country of Mongolia. ...

Gansu Gansu is a provinces of China, province in Northwestern China. Its capital and largest city is Lanzhou, in the southeastern part of the province. The seventh-largest administrative district by area at , Gansu lies between the Tibetan Plateau, Ti ...

, and

Fujian Fujian is a provinces of China, province in East China, southeastern China. Fujian is bordered by Zhejiang to the north, Jiangxi to the west, Guangdong to the south, and the Taiwan Strait to the east. Its capital is Fuzhou and its largest prefe ...

. These mines account for approximately 6.6% of China’s total gold production. Notable operations include: * The Sanshandao Gold Mine and Xincheng Gold Mine in the Zhaoyuan–

Laizhou Laizhou, Postal Map Romanization, alternately romanization of Chinese, romanized as Laichow, is a county-level city in the Prefecture-level city of Yantai, Shandong, Shandong Province, China. As of 2008, Laizhou had a population of 902,000, out of ...

gold belt of Shandong Province, among the most productive gold deposits in China. * The Linglong Gold Mine, one of China's oldest continuously producing gold mines. * A major gold discovery in 2017 in Laizhou-Zhaoyuan, with reserves estimated at over 382 tonnes and a projected value of approximately US$22 billion.

International gold mining

Shandong Gold has been actively expanding overseas to secure resource supply and globalize its operations. * Veladero Mine, Argentina: In April 2017, Shandong Gold acquired a 50% interest in the Veladero gold mine in

San Juan Province, Argentina San Juan Province () is a Provinces of Argentina, province of Argentina, located in the western part of the country. Neighbouring provinces are, moving clockwise from the north, La Rioja Province (Argentina), La Rioja, San Luis Province, San Lui ...

, from

for US$960 million. The two companies also formed a joint venture to explore the nearby Pascua-Lama deposit. * Cardinal Namdini Project, Ghana: In 2021, Shandong Gold acquired Cardinal Resources Ltd. for approximately US$220 million, outbidding Russian miner

Nordgold Nord Gold S.E., (Nordgold) is a gold mining company with assets in Russia, Kazakhstan, Burkina Faso, Guinea and Canada History Nordgold was established as Severstal Gold, a gold producing subsidiary of Severstal, the Russian steel company owned ...

. Cardinal's flagship Namdini Project in northern Ghana is one of the largest undeveloped gold deposits in West Africa, with over 5 million ounces in reserves. * Tashkent Representative Office, Uzbekistan: In 2024, Shandong Gold established a regional office in

Tashkent Tashkent (), also known as Toshkent, is the Capital city, capital and List of cities in Uzbekistan, largest city of Uzbekistan. It is the most populous city in Central Asia, with a population of more than 3 million people as of April 1, 2024. I ...

Uzbekistan , image_flag = Flag of Uzbekistan.svg , image_coat = Emblem of Uzbekistan.svg , symbol_type = Emblem of Uzbekistan, Emblem , national_anthem = "State Anthem of Uzbekistan, State Anthem of the Republ ...

, in partnership with local firm SINOLO LLC. The move supports ongoing evaluation of Central Asian gold projects and enhances the company’s presence in the Belt and Road corridor.

Attempted acquisitions

* In 2020, Shandong Gold entered an agreement to acquire TMAC Resources and its Hope Bay project in

Nunavut Nunavut is the largest and northernmost Provinces and territories of Canada#Territories, territory of Canada. It was separated officially from the Northwest Territories on April 1, 1999, via the ''Nunavut Act'' and the Nunavut Land Claims Agr ...

, Canada, for US$165 million. However, the Canadian government rejected the transaction in December 2020 on national security grounds.

Nonferrous and polymetallic mining

While gold remains the group’s core focus, Shandong Gold also engages in nonferrous metal extraction, including copper, silver, and zinc. Some projects are conducted through joint ventures or subsidiaries, particularly in Inner Mongolia and Fujian. These operations are integrated with the company’s refining and trading network to support metal supply chains in China’s industrial sector.

Non-Gold Businesses

In addition to its core gold mining operations, Shandong Gold Group has diversified into sectors including nonferrous metals, real estate, tourism, and financial services. The group's financial services are managed through entities such as SD Gold Financial Holdings Group in China and SDG Financial Holdings (HK) Limited in Hong Kong. These subsidiaries serve as platforms for investment, mergers and acquisitions, and international financing.

References

External links

* {{Gold mining companies of China Gold mining companies of China Companies based in Jinan Government-owned companies of China 1975 establishments in China Companies established in 1975 Companies in the CSI 100 Index 1975 in Jinan