Heilongjiang: The streets are paved with gold, June 13:
According to Paul Atherley, managing director of gold mining company Leyshon Resources, Heilongjiang province in northeastern China has so far produced 20 million ounces of gold – and most of that has been picked up off the ground.
Atherley was speaking at a conference in Hong Kong, which also featured a couple of the other foreign-invested stars of China’s burgeoning gold industry, Jinshan and Sino Gold. Lest we forget, China became the world’s largest gold producing country in 2007, ending South Africa’s 102-year reign at the summit.
Heilongjiang is sitting on a rich seam of gold (Yunnan is the other key gold-producing area) but the absence of proper drilling expertise means it has gone largely untouched, apart from the easy pickings close to the surface. As a result, foreign operators are queuing up to get involved. Leyshon, Jinshan and Sino Gold have all been to the capital markets (AIM, Toronto and Australia/Hong Kong respectively) to raise funds and are now busy at the rock face with their joint venture partners.
We bag a journalism award! June 5:
The Society of Publishers in Asia held its annual awards ceremony in Hong Kong on June 4, honoring exceptional journalism from around the region (you may remember our Excellence in Explanatory Reporting Award last year). Entrants are divided into groups according to size and circulation. CHINA ECONOMIC REVIEW was in Group B, for “local newspapers or small magazines published in English.”
In this year’s Excellence in Business Reporting category our December cover story on corporate bonds received Honorable Mention. Here’s what the judges had to say:
“An admirably clear explanation of the development of China’s corporate bond market, with enlightening insights on the bureaucratic actors behind the policy shifts and their interests. A fine example of how to write and present an article on what could have been a dry and complex topic.”