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Article: CHINA AUCTIONS 1ST MINING RIGHTS TO GOLD MINE.
- Article from:
- AsiaPulse News
- Article date:
- August 19, 2002
CopyrightCOPYRIGHT 2002 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NANCHANG, Aug 19 Asia Pulse - The mining rights to a small gold mine in eastern China's Jiangxi Province were auctioned on August 18 and went to a local private enterprise.
The first ever such auction in China attracted four companies from within the province and from Hong Kong. The South Mechanic and Chemical Project Ltd. secured the four-year mining rights for 2 million yuan (US$241,000).
Lin Jun, consignor of the winner company, was surprised that every enterprise was treated equally. "It was unbelievable in the past to have mining rights of a gold mine for a private company," he said.
Gold has long been a special mineral tightly controlled ...