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China Resources International
51 F, Raffles City Centre, 268Xi Zang Middle Road, Huang Pu District Shanghai, China
Member since June 17, 2013
Environment, Industrial DesignChina Resources International is pleased to announce the planned acquisition of a metals mining license in Shandong, which will be the first new major investment move of 2013. Mar. 21, 2013 - HUANG PU, China -- According to China Resources International CEO Mr. Yang Wu, all preliminary analyses have been conducted on a site China Resources International will acquire in April of this year. This move would take the company's asset portfolio from three major distinct licenses to four, and CEO Yang Wu claims the move could potentially increase China Resources Internationals 2013 profits by as much as fifteen per cent despite initial costs. “The site identified for acquisition has demonstrated ore grades of 3.12 g/t and with anticipated cash cost per ounce of $690 will make an excellent addition to the company's asset portfolio, creating value for our loyal shareholders.” Mr. Wei Feng This new investment combined with the capital previously invested in China Resources Internationals Xiaoluo Project suggests large capital costs, but China Resources International's President Mr. Wei Feng insists that the company's authorized share capital will not need to be increased, and that this investment is well within the company budget. CEO Yang Wu commented further on the planned investment saying “Shandong province is well known to us and our investors as a mineral rich region, and we have located intersecting veins on this site that we are keen to process as soon as possible, so...
Posted August 03, 2013 in China Resources International
Environment, Industrial DesignChina Resources International is pleased to announce the appointment of Mr Kevin Zhang to the position of Chief Financial Officer effective as of Monday 25th February 2013. Feb. 25, 2013 - Following the retirement and departure of existing Chief Financial Officer Mr Lee Feng MSc after 10 years of service with China Resources International, the company's board of directors are thrilled to welcome to the team Mr Kevin Zhang BSc MSc, whose long-term and broad experience within the finance and mining industries the board believe will be invaluable to the company for many years to come. Mr Zhang (52) obtained his undergraduate and graduate degrees in Finance and Economics from the university of Peking in the early 1980's, and throughout his illustrious career has worked in several high level positions with HSBC and DBS banks as well as consulting positions with other financial institutions. Over the past decade his experiences have grown to include executive positions within two major mining outfits based in Australia and in South America. China Resources Internationals President Mr Wei Feng stated “We will be sad to see Mr Lee Feng leave us after so long, but on behalf of all of our board members and our grateful shareholders, I would like to wish him the very best in his retirement and thank him once again for his many years of loyal service. Apart from this I would like to welcome our incoming CFO Mr Kevin Zhang whose curriculum, attitude and experience make him the id...
Posted July 27, 2013 in China Resources International
Community, Communication DesignChina Resources International is delighted to announce it has located high grade underground vein intersects at its Xiaoluo project site and will now expand the exploration zone. Jan. 30, 2013 - China Resources International had, in the final quarter of 2012, already announced the intent to pursue exploratory drilling at its Xiaoluo site, and is therefore delighted to report that as of this week it has successfully located, accessible, high grade vein intersects in another exploratory zone. At this stage the geochemical samples taken from around the zone suggest an average grade of 4.85 g/t Au, although the exact extent of the mineralisation has yet to be determined. Attempts to assess the ore grade on this site prior to the festive period had suggested grades as high as 3.68 g/t, based on initial samples taken at hole XIA-NL-001, which led to a 2013 estimated throughput on the Xiaoluo site of 12,000 ounces. This published estimation according to CEO Mr Wang Yu, will at present remain unchanged despite this positive news. Company President Mr Wei Feng said “Of course this comes as no surprise to myself or to our board of directors as our earlier samples had indicated the presence of high grade gold mineralisation on the site, but what is noteworthy is that these intersects should prove accessible as well as yielding an ore which is economical to produce, meaning our expenditure remains within our designed budget. 2012 was a strong year for us, but I believe holds eve...
Posted July 12, 2013 in China Resources International
Community, Communication DesignChina Resources International today began drilling several test holes at its Xiaoluo mine 12km north of is Jilin site. Nov. 14, 2012 - China Resources International only recently began drilling at the fourth and final zone within the Jilin mine, and was not expecting to begin drilling at the Xiaoluo site until 2013. However due to surplus resources and manpower early attempts have been made to assess the ore grade, ground constitution and other factors, prior to commencing full scale production on the site in the new year. The company now has in total 3 operational mines. The Guizhou mine remains its principal asset, but drilling is now finally in operation at both the Jilin and Xiaoluo sites. Mr Wei Feng the company's President said “Prior to any drilling, much planning and preparation is needed, and of course we want to to control as many factors as possible, minimise our costs and then finally extract ore in the safest, most efficient way possible. We are now satisfied that all necessary safety checks and preparations have been conducted." Initial samples at hole XIA-NL-001 have shown mineralisation lenghs of 3.06m, with an ore grade of 3.681 g/t, which is extremely high. "Mineral gold has been sampled at intersects, although as yet drilling has barely scratched the surface. Early indications from ore samples at shallow depths have indicated ore grades well above the expected leves at this site, but we will remain patient." Mr Wei Feng, Chin...
Posted July 07, 2013 in China Resources International
Community, Communication DesignChina Resources International is delighted to report that production across its two operating mines has increased 28% on the year to date. Nov. 9, 2012 - China Resources International has reported a production increase of 28% based on a comparison of the year to date, on the same period last year. The increase in production has been noted in both gold and zinc output which have increased 36% and 24% respectively. Gold output rose from 34,000 ounces (2011) to 43,520 in November 2012. Mr Wei Feng the company President attributed the rise to increased production at the company's Guizhou mine, combined with the initial output from the Jilin mine where drilling recently began. Mr Feng commented “The observed production increase reflects several factors including the beginning of production in Jilin, the purchase of new equipment, and the ever growing workforce.” Overall China Resources International has seen exceptional production growth in 2012, which combined with the exceptional grade of ore being mined has reduced cash costs and driven up profits. When broken down, the majority of the increase in production appears to have occurred during the third quarter whereas the first two quarters showed only a relatively minor increase in production levels. China Resources International reports that the Guizhou mine still contains vast reserves of mineral gold despite already having been in operation for several years. Gold production estimates for 2013 for China Resources I...
Posted July 03, 2013 in China Resources International
Community, Communication Design
According to a survey conducted this week by union representatives at mining company China Resources International, almost 3/4 of employees are "content" with working conditions. The company is now preparing to hire for its next project.
Oct. 31, 2012 - SHANGHAI – China Resources International President Mr Wei Feng, has today announced that the company will need to hire at least 3000 for its latest project. Following the dismissal and attempted reinstatement of 12,000 miners this week at AngloGold (South Africa), the union representatives at China Resources International conducted an anonymous survey, aimed at assessing employee satisfaction in the workplace, prior to recruiting over the coming months.
Results of the survey revealed that 68% of employees selected the word “content” to describe how they felt about their working conditions, which was the second most positive of five possible responses. All employees were asked to take part, in total privacy to ensure the results of the test accurately reflected the feeling of the workforce. Individual cases were not examined.
The results come in stark contrast to the global public perception of miners, which was well highlighted when 12,000 miners went on strike at South Africa's largest gold miner, AngloGold following clashes with security forces over pay disputes which left 34 dead.
Compared to many larger mining companies, China Resources International enjoys a politically and socially stable climate i...
Posted June 25, 2013 in China Resources International
China Resources International approves analysis and begins mining production at fourth site in Jilin
Community, Communication DesignThe Jilin province mine was acquired by China Resources International in 2010. The company has since, conducted feasibility studies and begun production at each of the 4 distinct sites. Today approval was given to begin drilling on the final site. Oct. 22, 2012 - Levels and grades of mineral gold deposits found and tested in samples, along with accessibility factors led China Resources International to conclude that the fourth planned site is in fact viable for processing. Approval was given today by China Resources International president Mr Wei Feng to commence drilling at the site as soon as Wednesday 24th October 2012. Mr Feng said “We have been planning to begin work at the fourth site for some time, so I'm please we can finally do so in confidence". Mr Feng also pointed out that China Resources International also recently acquired a smaller site, known as the Xiaoluo project, which lies 12km to the north of the main Jilin mine. At the Xiaoluo project site, the company is exploring 2 other recent acquisitions, but as yet no specific information has been publicised on progress or when drilling may begin. While a relatively recent acquisition compared to the established Guizhou project, the Jilin project has been a great success since it began. Due to the vast number of resources being extracted in this area, both surface and underground mines are found in the local area; which means that both the local infrastructure and transportation access are excellen...
Posted June 19, 2013 in China Resources International
Communication, Communication Design
Oct. 18, 2012 - Following China Resources Internationals' recent announcement of higher than expected earnings in the third quarter of 2012, we are now seeing that it has been an excellent quarter not only for China Resources International, but also for mining and for China as a whole. Globally the stock exchanges have seen positive movement attributed to this positive news.
The FTSE 100 in the UK today hit its one-month high with its local mining shares boosted by improved outlook and boosted investor confidence in China, the world’s largest consumer economy.
The Chinese economy grew as expected, 7.4 percent less than in the same quarter in 2011, but surprising September retail sales (14.2% rise) and industrial production (9.2% rise) figures were higher than expected giving many investors hope that the country can expect a more positive final quarter.
Mining shares rallied In the Australian ASX too, pushing the market to 4559 points; close to its 14 month high, and its 2011 high, allegedly due to economic outlook improvement in China's third quarter data.
In Asia the markets also reflected the positive feeling yesterday with the Japanese Nikkei Stock Average advancing 2 per cent, while in Hong Kong, the Hang Seng Index rose 0.7 per cent and the Shanghai Composite climbed 1.1 per cent.
Market analyst’s opinions seem to converge on the idea that last quarter may represent the market's through, and that this next period will see positive movement. While the growth m...
Posted June 17, 2013 in China Resources International