Shandong Gold Mining Group To Boost Bullion Output, Overseas Assets- Report

SHANGHAI, Jun 17, 2010 (Dow Jones Commodities News via Comtex) -- The Shandong Gold Mining Group plans to expand its bullion output and grow through overseas acquisitions, state-run China Daily reported Friday, citing an unnamed company source.

The group, parent of Shanghai-listed Shandong Gold-Mining Co. (600547.SH), plans to increase gold output by 20% to 30 tons this year to cash in on growing demand in China, the paper cited the source as saying. Shandong Gold Mining Group is planning to invest in mining assets in South America, Canada and Australia. It will look to invest in new regions like Argentina, Chile and Brazil especially in copper, zinc and lead resources.