Taiwanese firm launches gold-processing facility in Cam Norte

Taiwanese firm Xin Ye Precious Metal Technology Co. Ltd., through its local subsidiary Philippine Xi Ye Industry Ltd. Inc., officially launched on Monday its first gold processing facility in Jose Panganiban, Camarines Norte in partnership with Johnson Gold Mining Corp.

Xin Ye executive vice president Steven Liao said the USD1-million plant can process 11.5 metric tons (MT) of concentrate per day with potential gold yield of 50 grams per ton.

“That’s 550 grams of gold on a daily basis,” he said.

“We are committed to the protection of our environment and natural resources by responsible mining,” Xin Ye president Michael Liao said in a statement on Monday.

Liao said the firm’s locally patented GP-860 solution, which uses cyanide-free, mercury-free, and non-toxic gold stripping method, can help small-scale miners to abide by government policies on responsible mining practices.

GP-860 gold stripping technology aims to replace traditional extraction process, which usually involves the use of the banned chemical mercury that remains popular and widely used by small-scale miners in the Philippines.

Compared to traditional artisanal and small-scale gold mining extraction method, which usually takes two to eight days dissolution period, Liao said Xin Ye’s GP-860 can shorten the ore to gold process to six to eight hours with the rate of gold stripping at 98 percent and refined gold purity of 99.9 percent.

“Basically, our technology allows artisanal and small-scale gold mining to extract gold using environment-friendly alternative to mercury,” he said.

At present, Liao said they are in talks with at least eight mining companies in Baguio and Bicol Region, adding they expect to close the deal for the acquisition of the technology early next year. (With report from PNA)