China National Gold Group has won the bidding for the right to develop Yangshan Mine, China's largest gold mine by reserves. The company unveiled its plan on Friday to develop the mine, vowing to construct China's largest gold mine base in an energy-efficient and environmentally-safe way.
The Yangshan gold mine is located in northwestern China's Gansu province. Discovered in 2007, it has estimated proven gold reserves of 308 tons, the largest in China and Asia, and the 6th largest of its kind in the world.

The world-class gold mine has attracted huge attention from miners, both local and overseas. China National Gold Group won the bidding for the development rights for 2.2 billion yuan. Total investment in the mine is expected to reach over 4 billion yuan.
Although the mine is big, its development is expected to be difficult. The gold ore is in granule form, and mixed with high proportions of arsenic and carbon.
Sun Zhaoxue, President of China National Gold Group Corp., said, "The mine has increased our gold reserves significantly. There's great potential for the mine. But it will also require high technology for its development and to keep it environmentally safe. We will use world-leading technology to develop the mine."
The company is now prospecting the mine. Development on it will begin next year.