Zhongjin Gold (SHA:600489) plans to expand the tailing storage facility or TSF of its Wunugetushan Copper-Molybdenum mine for 2.95 billion yuan, according to a Shanghai Stock Exchange disclosure on Tuesday.
The expansion will raise the TSF's height by 30 meters and will increase the dam elevation to 840 meters from 810 meters. The total storage capacity will also be increased by 78.73 million cubic meters.
The project, which was approved by the board of directors, will be constructed within five months, the Chinese mining company said.
The company's shares slipped over 1% in recent trade.
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