Shrugging off rising tensions, China’s largest gold miner opens office in Toronto – by Gabriel Friedman (Financial Post – July 26, 2019)

https://business.financialpost.com/

Shandong hopes to build relationships with Canada’s mining community to help it grow into one of the top ten largest gold miners in the world by 2020

At a time when Sino-Canadian diplomatic tensions run high, China’s largest gold miner, Shandong Gold Group Co., Ltd. gathered several dozen bankers, lawyers, local mining executives and media at a downtown Toronto hotel to celebrate the company’s new Bay Street office.

Board chairman Chen Yumin, who travelled from China to attend the event, said Toronto remains a capital of talent and finance for the mining industry. By opening an office in the city, he said Shandong hopes to build relationships with Canada’s mining community to help it grow into one of the top ten largest gold miners in the world by 2020.

“The reason that we opened a Toronto office is not just (about) the relationship between Canada and China,” Yumin said through a translator during a press conference following the event. “What we are looking at is global reach.”

Its office, which opened in January and will be staffed by a geologist, is located in the Royal Bank Plaza, a shimmering gold skyscraper in the heart of downtown Toronto.

Shandong does not currently have any mines in Canada, but said it operates four of the ten largest gold mines in China.

For the rest of this article: https://business.financialpost.com/commodities/mining/shrugging-off-rising-tensions-chinas-largest-gold-miner-opens-office-in-toronto

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