China Gold International Resources Corp. Ltd. (CGG) released its 2025 Annual Information Form, outlining operational recovery, updated reserves, governance changes and the financial fallout from the March 2023 tailings overflow at the Jiama Project.
Production & Operations • CSH Gold Mine processed 7.82 million t of ore in 2025 at 0.581 g/t, producing 3,011 kg of gold with a 56.76 % recovery. • Jiama’s Phase II plant restarted on 30 May 2024; 2025 output reached 34,453 t of copper, 767 t of molybdenum, 40,912 t of lead, 23,446 t of zinc, 1,473 kg of gold and 105.75 t of silver from 11.84 million t of ore. Stripping ratio was 2.28. • Jiama deep and peripheral drilling added 1,254 m of pit exploration and 30,320 m of surface/underground drilling, supporting future resource growth.
Reserves & Resources (31 Dec 2025) • CSH Proven + Probable Reserves: 13.63 million t at 0.66 g/t gold for 0.29 Moz. • Jiama Proven + Probable Reserves: 336.83 million t at 0.60 % Cu plus by-products, containing 2.02 million t copper and 1.73 Moz gold. • Jiama Measured + Indicated Resources: 1.39 billion t at 0.40 % Cu equivalent.
Financial & Dividend Policy • The board confirmed no dividend for FY 2024, citing net loss linked to costs from the 2023 Jiama tailings overflow (repairs, penalties and suspension). • A revised policy introduced in March 2025 targets a 30 % payout of prior-year net profit plus potential special distributions when conditions permit.
Capital & Ownership • Outstanding shares: 396.41 million. • China National Gold holds 158.59 million shares (40.01 %). • No equity financing undertaken; Jiama’s RMB 3.98 billion bank facility remains in place (matures 2029).
Governance Updates • Leadership transition: Chenguang Hou became Chairman & CEO on 14 Nov 2024 after Junhu Tong’s retirement. • Deloitte retired as auditor on 26 Jun 2025; BDO Limited assumed HKSE audit duties, while Lixin & Ethos CPA LLP was appointed for Canadian reporting on 26 Feb 2026. • Audit fees totalled USD 0.60 million in 2025 versus USD 0.77 million in 2024.
ESG & Workforce • CSH spent RMB 1.60 million on land reclamation in 2025, restoring 1.04 million m². • Total employees: 2,160 across 27 Chinese regions; women represent 19 % of staff and hold 141 leadership roles.
Market Data • CGG shares traded between C$7.37 and C$30.43 on the TSX during 2025; closing price on 27 Mar 2026 was C$26.83.
Strategic Outlook The ongoing feasibility study on CSH underground resources and extended exploration at Jiama underpin the company’s medium-term growth plans, while management prioritises ecological rehabilitation and strengthened risk controls following the 2023 tailings incident.