By Tendar Tsering
DHARAMSHALA, August 30: Months after the World Gold Council (WGC) invited suggestions to exclude conflict gold from markets, China announced Saturday that the Dachang gold mine in Yulshul, eastern Tibet will likely become one of Asia’s largest goldmines.
China’s official news agency, Xinhua, reported that the Dachang goldmines will have proven reserves of 300 tonnes by 2015. The mine already has a proven reserve of 195 tonnes, with another 35 tonnes expected to be confirmed by the end of 2011.
According to the Qinghai Geology and Mineral Exploration and Development Bureau the proven gold reserves of six mines in the Qinghai region alone is 430 tonnes. The Bureau along with a Canadian mining company reportedly invested 200 million yuan (31.3 million U.S. dollars) in the geological exploration of the Dachang goldmines.
The London based WGChad in June invited interested governments and NGOS including end-users and other participants in the gold supply chain to review the council’s draft standardfor conflict free gold.
WGC in a release had specified ‘respect for human rights’ and ‘a credible and accessible grievance mechanism’ as principles underpinning the draft standard.
Mining operations boomed in Tibet after the opening of the Gormo-Lhasa railway line in 2006. There are reportedly around 100 mining sites in Tibet which are bound to see multi-fold increase with the Chinese government announcing plans in March last year of exploiting over 3,000 mineral reserves, potentially worth more than USD 125 billion.
Tibetans have repeatedly protested against mining projects inside Tibet at the risk of facing arrest and torture. In Dzogang County of Chamdo Prefecture alone, around 50 Tibetans have been arrested for protesting against several mining projects in the area.
