From ABC News
One gold fields miner has cause to celebrate despite the gloomy economic times in the mining industry.
Norton gold fields, which mines on the Paddington gold Mill on the outskirts of Kalorlie-Boulder, has just marked 30 years of operation, toasting the occasion during the annual Diggers and Dealers Conference in Kalorlie.
Recently taken over by China's largest gold producer, Zijin, the company's achievement drew the attention of a large contingent of Chinese media and high profile executives.
The takeover is considered one of China's few successful investments in WA's resources sector.
Norton's new executive chairman George Fang said the company had seen the highs and lows of the mining industry, but remained dedicated to Western Australia for the long haul.
"Our growth strategy will continue and we remain committed to our role as a significant employer and a significant contributor to the economy," Mr Fang said.
"There are no plans to make any major departure from the strategy implemented by Norton ... Zijin has made a long term commitment to the gold fields region and is looking forward to many more years of profitable production at its Paddington operations."
The Paddington gold Mill operation continues to provide much-needed jobs for a mining industry that is in the doldrums.
Commodity prices have fallen across the board, most noticeably iron ore and oil.
In comparison, the gold price has held up, while miners have also benefited from a falling Australian dollar.
Mr Fang said the company had worked hard to reduce its cost base to remain profitable through the ups and downs.
"It is not easy at this specific time," he said.
"Since Zijin became a majority shareholder in Norton in 2012, Paddington's production has increased by approximately 30 per cent. At the same time costs have reduced substantially, improving the overall profitability and sustainability of the business."
Chinese media attention
The od news story attracted crews from some of China's largest media outlets, including Central China TV (CCTV), Phoenix Satellite Television Co and Xinhua News Agency.
George Yang is a correspondent for Phoenix Satellite Television Co, one of the country's largest media outlets, broadcasting to an audience of 1.3 billion viewers in China.
He flew over from Sydney for the event and said such milestones are a big deal for Chinese people.
"The biggest successful Chinese investment was in FMG, this is probably the second best," Mr Yang said.
He said gold mines always attracted interest from Chinese media because the country has a love affair with the shiny metal.
"The Chinese have a tradition, if you marry a girl and you have girl, you give them gold.
"It is tradition and like a businessman they also buy 24-carat gold, all very popular."
He said he believed Chinese executives were on the hunt for more gold mining assets in Australia because the downturn had pushed down the value of WA's mining assets.
"I was here two years a, the town there was a lot of people, and now one third less population here, 8,000 people have left this town.
"I believe there is still a lot of cheap stuff around here, Chinese companies should come here looking for something.
"This is a very od chance to walk in to buy some quality assets and the gold for China is tradition."
Perth's Chinese consulate general Huang Qinguo, also in Kalorlie-Boulder, echoed that view, and poured cold water on market concerns about China's slowing growth.
"For the past half year, the economy of China has maintained proper momentum with a steady growth rate of 7 per cent," he said.
"The quality and efficiency of the economy is being enhanced by key indexes improved, showing a stabilising and steady development is being formed.
"It is fair to say that the Chinese economy, though under certain level of temporary pressure, still keeps a long term positive momentum.
"Our economy is being transformed from investment-orientated to consumption-orientated."