<ET Net News Agency, 4 September 2012> China Gold International Resources (02099) said its 96.5%-owned cooperative joint venture company Inner Mongolia Pacific Mining has entered into the a geological exploration design agreement with Jinsheng Mining, a wholly-owned subsidiary of ultimate controlling shareholder China National Gold Group.
Jinsheng Mining has agreed to prepare the next stage geological exploration design with respect to the Haoyaoerhudong region of the Chang Shan Hao (CSH) mine for a service fee of Rmb60,000. The project shall be completed by 31 October this year.
Inner Mongolia Pacific has also entered into an ore processing technology
development agreement with China National Gold Group Technical Centre. The Technical Centre has agreed to provide research and development services to advance the ore processing technology of the CSH Mine and Jiama Mine for a total of Rmb5 million.
Further, Huatailong has also entered into a purchase agreement with Henan Jinyuan to purchase from Henan Jinyuan ball mill liners and spare parts for the ball mill liners at the Jiama Mine for Rmb975,669.38.
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