Globe says Dynasty's Battles for $1 Billion China Gold Mine Globe and Mail article:
Vancouver Miner Says China Trying to Steal Xinjiang Gold Mine
'lobe says Dynasty claims China trying to steal mine
2021-02-01 04:59 PT - In the News
The Globe and Mail reports in its Monday, Feb. 1, edition that Dynasty Gold denies using slave labour in its open-pit mine in China's Xinjiang region. The Globe's Robert Fife writes that Dynasty says the Chinese government is trying to steal its Qi2 gold mine in Hatu, which is worth an estimated $1-billion (U.S.). Dynasty chief executive officer Ivy Chong says she pays a fair wage and follows "all protocols and culture practices" at the mine, where there are nearby "re-education" centres for political indoctrination. Dynasty is currently locked in a legal battle over ownership of the project with its state-owned Chinese partners. Ms. Chong says Dynasty's minority partners are trying to steal the company away from her with help from Chinese courts. Dynasty, which has invested $12-million (U.S.) in the Hatu gold mine, holds a 70-per-cent interest, while the remaining 30 per cent is held by Western Region Gold, a wholly owned subsidiary of the state-owned enterprise, Xinjiang Nonferrous Metal Industry Group. Ms. Chong says: "They simply took our mine. Our partner is the Chinese government in Xinjiang and so we have been asking for Canadian government help for the last while but we have not got any."
Source: [url=https://www.stockwatch.com/News/Item?bid=Z-C:DYG-3024845&symbol=DYG®ion=C]https://www.stockwatch.com/News/Item?bid=Z-C:DYG-3024845&symbol=DYG®ion=C[/url]