A six-person government delegation from Mangshi, Yunnan province, led by mayor Zheng Zhao, arrived at Yintai Group’s Yintai Gold Co., Ltd. (Hereinafter referred to as “Yintai Gold) on July 17 for an inspection tour. Yintai Gold’s chairperson Yang Haifei, and the relevant heads of department welcomed the delegation, and the two parties discussed Yintai Gold’s investment in Huasheng Gold Mine as well as its medium- and long-term plans for the gold mine.

Mayor Zhang started the discussion by extending his warm welcome to Yintai Gold for its investment and development in Mangshi’s gold project. He hoped that Yintai Gold would advance the building of the project as soon as possible so that the mine could commence operations quickly, and contribute to the economic development of Mangshi. Mayor Zhang also gave a presentation on the investment environment and policies of Mangshi, and said that the city would do all it could to assist Yintai Gold in carrying out all the necessary formalities as well as the application of the various permits required by the relevant departments. It would support Yintai Gold in consolidating the mining rights in the neighboring areas so that Yintai Gold could expand its production scale, and become a bigger and stronger entity.

Yang Haifei, in turn, briefed the delegation on the overall operating status of Yintai Gold. All operating indicators showed that Yintai Gold had continued to maintain a relatively high growth rate for many years. Its industry position in terms of gold production had continued to rise, its financial condition was sound, and it had strong expansion capability. Yang Haifei hoped that the management team of Huasheng Gold Mine would be dedicated to their duties, and work hard at advancing the development of the project so that Huasheng Gold Mine could commence operation and reach design capacity soon, becoming a major contributor to local tax revenue, thus supporting Mangshi’s economic development. While achieving good economic performance, Huasheng should also assume its social responsibilities, contribute to local employment, and reward its investors and staff.