Shandong Gold Mining to expand capacity

The current gold prices are not high but at reasonable levels, said a senior executive of Shandong Gold Mining Co Ltd yesterday amid speculation that the yellow metal would decline further as the greenback continued to regain lost ground.

The company also said it plans to expand annual gold output to 30 tons over the next five years.

"The current prices are reasonable as gold is a non-renewable resource and has natural currency attributes," said Shi Min, president, Shandong Gold Mining Co Ltd at the China Mining Congress and Expo, which opened on Tuesday in Tianjin.