The Gold Mine, owned principally by the Liaoning branch of China’s National Gold Corp, the largest gold mining company in the country, is situated approximately 27 kilometres from Fuxin City, Liaoning Province, China. The mine covers a 74-hectare area and mineralization in the area is said to be of the hydrothermal alteration type, hosted by a large shear zone in Archaean metamorphosed rocks. Paishanlou is currently open pit mining a reported gold reserve of about 1,400,000 ounces at an average grade of about four grams per tonne. The mine commenced production in August 1998 and is currently producing a reported 60,000 ounces of gold per year. The Mine is a model for the Chinese gold mining industry and has received numerous awards for efficiency and is acknowledged to be the best operated mine in China.