5.72 (+0.11)
34.45 (+2.50)

CSH Gold Mine

The CSH gold mine is one of China's largest open pit gold mines.

Project Overview

  • A conventional open-pit, heap-leach, gold-mining operation
  • Mining a large, bulk-tonnage, low-grade gold deposit
  • Located in Inner Mongolia of China, approximately 210km northwest of the city of Baotou
  • Principal product: Gold dore bars with silver as a by-product
  • Well-established basic infrastructure with excellent access to road and sufficient supplies of power, water and local labor force

Gold Production

CSH&Jiama Combined


Recent Updates:

2021 Q3 Financial Performance Snapshot

Table 1

  • Gold production at the CSH Mine decreased by 7% to 37,838 ounces for the three months ended September 30, 2021 compared to 40,672 ounces for the same period in 2020.
  • The total production cost of gold for the three months ended September 30, 2021 increased to US$1,499 per ounce compared to US$1,381 for the same period in 2020.
  • The cash production cost of gold for the three months ended September 30, 2021 decreased to US$903 per ounce from US$906 for the same period in 2020. The increase in total production cost is mainly due to higher depreciation and depletion and higher volumes of ore mined, whereas cash production costs remained fairly the same due to consistent overall direct costs.

2021 Q3 Production Update

Table 2

  • For the three months ended September 30, 2021, the total amount of ore placed on the leach pad was 4.1 million tonnes, with total contained gold of 46,827 ounces (1,457 kilograms).
  • The overall accumulative project-to-date gold recovery rate has remained at approximately 54.81% at the end of September 2021 from 54.90% at the end of June 2021. Of which, gold recovery from the phase I heap was 59.77% and; gold recovery from the Phase II heap was 50.68% at September 30, 2021.

Mineral Resource Update

CSH Mine Resources by category, Northeast and Southwest Zones combined at December 31, 2020 under NI 43-101:

Table 3

Mineral Reserves Update

CSH Mine Reserves by category, Northeast and Southwest pits combined at December 31, 2020 under NI 43-101:

Table 4

Click here for 2021 Q3 news release



Two geological exploration programs were conducted at CSH in 2020 to increase and upgrade mineral resources. In the first quarter of 2021, the drilling was completed. A total of 7 drill holes with 4,654.35 meters were completed at the southwest zone, and a total of 26 drill holes with 17,167.50 meters, including one hydro-geological hole with 755.50 meters, were completed at the northeast zone. In the third quarter of 2021, the Company focused on the data processing, interpretation and modeling work based on the 33 drill holes amounting to 21,821.85 meters completed at the southwest and northeast zones in the first quarter of 2021.

Guidance Highlights for 2021:

  • Projected gold production of 235,000 ounces in 2021.
  • Projected copper production of 177 million pounds in 2021.
  • The Company continues to focus its efforts on optimizing the operation at both mines, stabilizing the Jiama Mine’s production and potentially extending the mine life of CSH Mine.
  • To fulfill its growth strategy, the Company continues to work with CNG and other interested parties to identify potential international mining acquisition opportunities.
  • The Company has not experienced any significant impact on its operations from the COVID-19 pandemic.  Both of the Company’s mines have been able to operate and sell products without significant interruption during the nine months ended September 30, 2021.  The Company continues to closely monitor the health of its employees and supply chains to be able to respond to any potential disruptions, should any arise.  The Company is also managing its cash reserves to be able to withstand any financial ramifications of potential disruptions.


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