China is charting a course for a major increase in domestic gold output over the next five years, while also advancing a new round of mineral-exploration breakthroughs, to bolster self-sufficiency amid a global shift away from the US dollar and heightened geopolitical tensions that underscore gold’s role as a financial haven.
The group convened a meeting on Tuesday, bringing together insiders and experts to forge development plans for the gold industry. An online statement by the association on Wednesday offered insight into what was discussed.
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It cited unidentified experts at the meeting as saying that progress should focus on breaking technological bottlenecks, including accelerating the development of deep-shaft mining techniques beyond 2,000 metres (6,562 feet) and advanced extraction equipment.
Some industry representatives pledged to step up research into high-value gold materials to lift the metal’s value across manufacturing and technology sectors. These materials often include ultra-small “nanogold” products used in electronics, biomedicine and other hi-tech applications.
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“Resource security is the foundation of the gold industry’s stable development,” the non-profit group’s statement quoted insiders as saying. There were also vows to advance a new round of gold exploration while improving gold recovery rates for low-grade, hard-to-extract and complex ores.
The association added that broader adoption of what is known as cyanide-tailings technology – referring to methods of treating waste by-products of gold mining that contain cyanide, often to detoxify them and recover remaining valuable resources – would further support sustainable production.
