Sino Gold Raises Ore Estimate (Folo) Sumatec Mines for Gold As Demand Raises Prices BUSINESS ASIA By Bloomberg

Sino Gold Mining, which is developing China’s second-largest gold mine, increased its estimate of the ore reserve at its $95 million Jinfeng project in the southern province of Guizhou to 3.2 million ounces, or 90.7 tons, of gold.

The new reserve estimate is 12 percent higher than the previous estimate, completed in April last year, the Sydney-based company said Wednesday in a statement to the Australian Stock Exchange. Sino started gold production at Jinfeng this month and plans to increase output to 180,000 ounces of gold a year.

(c) 2007 International Herald Tribune. Provided by ProQuest Information and Learning. All rights Reserved.