Taung Gold International is a unique gold group listed in Hong Kong and building on the synergies of Chinese and South African resources, assets, a considerable depth of skills and capital resources.
In its new form, the company was created in 2011 when the formerly-named Wing Hing International (Holdings) Limited acquired its South African counterpart, Taung Gold, and merged the two corporate entities to create a new force in mining under the name of Taung Gold International.
In South Africa the group has two gold projects, Evander and Jeanette, each with significant resources poised for development into long-life producing mines.
Taung Gold is a junior gold operator, founded and incorporated in South Africa in 2004 by Dr David Twist and Christiaan Rudolph de Wet de Bruin. The company’s guiding objectives, that to this day remain fundamental to its strategy, were to acquire gold properties with the potential to be developed into world-class operating mines.
In the years immediately following incorporation, Taung evaluated various prospects and eventually settled on two – Jeanette and Evander. These operations had seen some preliminary development by leading gold companies as far back as the 1950s. Both had been closed early on as the prevailing state of the gold market and the overhead costs associated with their management by major gold groups made them uneconomic.
Ownership of Taung Gold’s South African operations is fully BEE compliant, with BEE shareholders having 50.1% control of Sepgold, a company owning 28.02% of the South African assets.