Local instrumentation company explores China gold
September 2002
News
Laser Measurement has taken positive and fruitful steps towards expanding into the Chinese gold mining industry. Wendy Richards, managing director of LaserM, was recently invited by the China Gold Association to visit the gold mines of Shandong province, known as the gold province of China.
Wendy Richards with Mr China Gold: Cheng Fumin
As part of a group of 12 South Africans exchanging ideas on gold mining technologies, Richards was privileged to be taken around various aspects of the gold mining industry in the province, including an underground trip in a mine that extends for 600 m under sea level, and several refining plants. A two-day conference in Zhaoyuan allowed LaserM to present its products to the Chinese gold mining fraternity, and learn, first hand, about the state of the gold mining industry in China.
LaserM, together with their US partner, K-Tek Corporation, set up an office in China in September 2001. Doing business in China requires patience over an extended period of time. The LaserM office in Beijing, run by George Feng, a Chinese national, has been building up relationships with the Chinese Gold Association and its end-users, for the last 11 months. Richards' presence in China confirmed to these potential customers that LaserM is serious about doing business in China. As a result of Richards' visit to Zhaoyuan, LaserM has signed two Memoranda of Understanding (MOUs) with Chinese gold mining companies, in which the Chinese and South African parties agree to purchase and supply lasermeter products respectively.
Gold mining in China is currently a relatively unsophisticated process, and the China Gold Association recognises South Africa as being the international leader in gold mining technology. The China Gold Association would like to upgrade their gold mining processes to be comparable with international standards. It is expected that this visit to China's gold province will prove invaluable for LaserM and the other South African companies in the group, as the time is ripe for entering the Chinese gold mining market.
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