China National Gold Group Corporation (China Gold) is investing around US$47.1 mn into the construction of a digital mine to apply advanced digital technologies in the management of its refinement process. The state-owned enterprise, which currently has over 2,000 tonnes of gold reserves, is engaged in gold prospecting, mining and refining.
A report on China Central Television Financial Channel announced that the digital mine will enable companies under China Gold to improve quality and efficiency by reducing manpower resources by over 10 per cent. Aside from intensifying its geological exploration efforts, it is optimising existing resources, cutting costs and boosting efficiencies through technological innovations such as the digital mine.
Lu Jin, Secretary of the Party Committee and Chairman of China Gold Group Co., Ltd., announced that the group's gold reserves should be more than 2000 tons, but those that can form mining value should be greatly discounted, so the next step is to increase geological exploration.
Lu Jin said that it is expected that in 2022, China gold will continue to invest about 300 million yuan to build digital mines and promote the digital control of the whole smelting process. Some enterprises will reduce front-line personnel by more than 10% through digital construction to further improve quality and efficiency.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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