Western Region Gold (SHA:601069) proposed to issue bonds amounting to 2 billion yuan.

The Chinese gold smelting company will issue medium-term bonds of up to 1 billion yuan and corporate bonds of the same amount, according to a Shanghai bourse filing on Friday.

The proceeds from the issuance will be used to repay debt, supplement working capital, and support project construction, the filing said.

The plan is still subject to shareholders' and regulators' approvals.

The company's shares soared 10% in recent trade.