Word: dayingezhuang
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...home of the sun god. When he tired of flying in his chariot, the legend goes, he would rest in a gold-filled cave on Mount Luo. For thousands of years people have searched for the sun god's lair, and they're still at it today. At the Dayingezhuang mine 19 miles (30 km) south of Mount Luo, workers take an open elevator car for a 21/2-minute plunge down a dark, icy shaft. At the bottom, amid swirling condensation and suffocating dankness, they enter a large hall labeled as face number 5,206. The night before, an engineer used...
...crib it isn't. But for every ton of rock pried from the earth, two grams of gold will be produced. Last year the Dayingezhuang mine turned out 78,000 ounces of gold, worth more than $78 million at the current price of around $1,000 an ounce. There's more ore where that came from. The mine's operator, Hong Kong-listed Zhaojin Mining Industry Co., expects to get 80,000 ounces from Dayinggezhuang this year. It's a story that is playing out at thousands of other Chinese gold mines that, with metal prices soaring, are ramping...
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