Paddington boostJarrod Lucas, Kalgoorlie Miner August 7, 2012,...

Paddington boost

Jarrod Lucas, Kalgoorlie Miner August 7, 2012, 9:35 am


The head of China’s biggest gold miner says its advanced mining technology will provide Norton Gold Fields’ Paddington operations with a significant boost.

Zijin Mining Group chairman Jinghe Chen, speaking through a translator, addressed Paddington employees at the WA Museum Kalgoorlie-Boulder on Sunday night.

“It is part of our strategy to head abroad,” Mr Chen said of Zijin’s $229 million takeover of Norton, which should become official as of August 20, when the offer is scheduled to close.

The Paddington mill, 35km north-west of Kalgoorlie-Boulder, achieved record annual production of 3.7Mt in financial year 2012 and produced 150,696oz. Mr Chen said the company’s 6Moz resource and 1Moz reserve had great potential.

“We have the technology to mine low grades which Norton has,” he said.
Mr Chen has already assumed the role of Norton executive chairman, replacing Tim Prowse, who remains on the board as non-executive director.