Financial Wire

Western Region Gold's Subsidiaries Extend Production Suspension

-- Some of Western Region Gold's (SHA:601069) subsidiaries prolonged the suspension of their operations after shutting down due to maintenance works and safety, according to a Shanghai bourse filing on Friday.

The preliminary design, safety facility design, soil and water conservation plans and assessment for Hami Gold Mine is still ongoing and are expected to be completed in September.

The resumption of Hongfa Ferroalloy will be reassessed despite the completion of maintenance work. The company's production costs are expected to exceed selling prices due to low market prices for silicomanganese alloys.

Xinjiang Meisheng expects that its production will remain suspended for 50 more days as it lost power and roads were blocked due to avalanches.

The gold miner's shares fell less than 2% during the afternoon trade.

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Western Region Gold's Subsidiaries Extend Production Suspension | Financial Wire