London Market Awards Qiankun Gold Ingot Quality Certificate

Buhe, Vice-chairman of the NPC (National People's Congress), extended his congratulations to Inner Mongolia Precious Metal Smelting Plant(INSP) on their achieving the Quality Certificate of Trading Gold Ingot in London gold market in Hubei Hall of the Great Hall of the People.

London Gold Market Good-quality Trading Gold Ingot Certificate is awarded and registered by London Gold Market Association after its inspection and chemical examination according to quantitative criteria of the lowest output and the least net-value of tangible assets. So far, 80 companies from 31 countries have now been admitted into the good-quality gold ingot trade in London gold market. The gold ingot produced by INSP as inspection-free products, which are allowed to enter directly into the international gold market for on-the-spot trade, indicates that the smelting technology of the plant has been up to the international standard.

Founded in 1991 and having gone over a capital reorganization in 1999, INSP has been turned into a stock company, namely the Inner Mongolia Qiankun Gold & Silver Refinery Co. Ltd with stocks being subscribed by its employees. At present, the total assets of the company amount to 0.13 billion yuan with an annual refinery of gold and silver up to 85 tons and 102 tons respectively, processing of gold/silver jewelry is 3000 kilograms, and annual sales value outstripping 0.1 billion yuan. In 1999, INSP realized an industrial output value of 72 million yuan, tax of 10.243 million yuan, thereby making a significant contribution to the development of local economy.

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