BIZCHINA / Biz Media Digest

Energy: Gold mine discovered

Updated: 2006-03-28 14:58

With a recoverable reserve over 200 tons, the Yanshan gold mine in Wen county, northwest China's Gansu province under exploration will become the largest gold mine in China. Situated in a "golden triangle" neighbouring Sichuan, Gansu and Shaanxi provinces and traversed by No. 212 national highway, Yangshan gold mine is conveniently located. With the continuous exploration work, fresh discoveries have been made every year and the gold mine is expanding rapidly. (People's Daily)

Domestic steel prices are likely to resume their fall in the second half of 2006 as growth in the country¡¯s demand for the metal slows, said an official at Baosteel, the world¡¯s sixth-largest steelmaker. Jia Yanlin, managing director of Baoshan Iron and Steel Co.¡¯s raw material purchasing center, told industry officials in Hong Kong last week a strong rebound in steel product prices since February was unsustainable, due to the nation¡¯s overcapacity. (SD-Agencies)