China Gold International Resources Reports Operations at the Jiama Mine Unaffected by the Earthquake and Reaffirms Annual Production Guidance
China Jiama maintains guidance despite quake fears, with the stock trading 33% below its September high.
China Gold International Resources Corp. Ltd. (CGG) reported that a 7.0-magnitude earthquake struck Baqing County, Nagqu City, Tibet, at 22:33 Beijing time on October 22, 2026. The tremor, centered at 32.40N, 93.79E with a depth of 10 km, occurred approximately 350 km from the company’s Jiama Mine in Maizhokunggar County.
Following the seismic event, the company implemented precautionary safety protocols across all mining areas. Mining and processing operations continued normally, with no disruption to production. CGG reaffirmed its 2026 annual production guidance for the Jiama Mine, as announced on January 27, 2026, stating the mine is well positioned to meet that target. The release did not provide specific tonnage, grade, recovery, or throughput figures to support claims that production is continuing to ramp up during the year.
Additionally, Tibet Huatailong Mining Development Co., Ltd. donated RMB 10 million, roughly US$1.4 million, to earthquake relief efforts. A companion release issued on the same day confirmed that open-pit mining resumed at CSH in early October 2026 following slope instability on May 22, 2026. Interim remediation was completed by the end of September 2026, followed by third-party safety verification, and CSH annual guidance was reaffirmed. Both reaffirmations are mine-level and do not provide company-wide figures or constitute new estimates.
China Gold International Resources Corp. Ltd. (CGG) issued a statement addressing the impact of an earthquake in October 2026, reiterating that the event had no material impact on operations. This language mirrors the company’s previous assessment regarding the May 2026 CSH incident, with guidance remaining unchanged rather than revised. The seismic event occurred 350 km from the Jiama mine and caused no damage, effectively removing a low-probability risk factor without affecting earnings.
Market reaction to the announcement was muted. CGG shares closed at C$35.33 on 2026-10-21, dropped 7.0% to C$32.87 on 2026-10-22, the day of the earthquake, and subsequently traded at C$32.94 and C$32.25 following the release. The reassurance did not trigger a price recovery, as declines pre-dated the announcement and continued through its publication.
The most significant development in the recent releases is the restart of the CSH facility, which was previously telegraphed on 2026-08-17 and has now been completed. While this operational milestone is positive, it was an expected outcome rather than new market-moving information.
China Gold International Resources Corp. Ltd., incorporated in British Columbia and dual-listed on the TSX (CGG) and HKEX (2099), operates two company-run mines in China, both currently in transition.
The Jiama Copper-Gold Polymetallic Mine is located in Maizhokunggar County, Tibet, and produces copper, molybdenum, gold, silver, lead, and zinc. The operation is currently a combined open-pit and underground facility moving toward an approved "super pit" concept with a design capacity of approximately 160,000 tpd. This expansion is contingent on a Preliminary Feasibility Study (PFS) expected around the end of 2026 and subsequent regulatory approvals. Ore production was last reported at 34,000 tpd against a 50,000 tpd design capacity, with a stated target to reach full design rate by 2028.
The Chang Shan Hao (CSH) Gold Mine in Inner Mongolia produces gold with silver as a by-product. The open pit and leach operation is late in its life and is transitioning to underground block caving. Early underground development has commenced under a Chinese domestic preliminary design, while SRK Consulting conducts an independent NI 43-101 gap analysis and feasibility study. Open-pit mining was suspended following a slope instability event on May 22, 2026, with operations expected to resume in early October 2026.
The company’s stated strategy includes growing production at existing mines, expanding its resource base, and acquiring and developing projects internationally. It has expressed interest in M&A opportunities for copper-gold and gold assets in South America, Central Asia, Australia, Africa, and the Middle East.