(Yicai Global) Nov. 18 -- Shares in Zijin Mining Group, one of China's largest gold miners, hit a 12-year new high this morning after the company issued an equity incentive plan yesterday.

Its stock [SHA:601899] closed 4.4 percent up at CNY8.55 (USD1.30) at noon, after falling off from 7.9 percent earlier at CNY8.86, a peak since April 25, 2008, the day of its listing. Its Hong Kong-listed shares [HK:2899] soared 4.36 percent to HKD7.42 (95 US cents).

Zijin Mining, which is based in Xiamen in southeastern Fujian province, plans to offer up to 100 million shares, or 0.39 percent of its total, to 700 core staff, among them Chairman Chen Jinghe and President Zou Laichang, according to a statement it released yesterday.

Editor: Ben Armour, Xiao Yi