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Article: China auctions first mining rights to gold mine
- Article from:
- Xinhua News Agency
- Article date:
- August 18, 2002
CopyrightCopyright 2002 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
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China auctions first mining rights to gold mine
NANCHANG, Aug. 18 (Xinhua) -- The mining rights to a small gold
mine in eastern China's Jiangxi Province were auctioned Sunday 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 (241,000 US dollars).
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 ...