(Yicai Global) Dec. 26 -- Shares of Western Region Gold fell after the Chinese gold miner and smelter said that 18 people got trapped underground after one of its gold mines collapsed.

Western Region Gold [SHA: 601069] closed down 3.4 percent at CNY11.56 (USD1.66), after earlier dropping by as much as 6.9 percent.

Some 40 workers were underground when the gold mine operated by Western Region Gold’s unit Yili collapsed at around 1.40 p.m. on Dec. 24, the Xinjiang Uyghur Autonomous Region-based parent firm announced late yesterday. Twenty-two workers have been saved, with rescue efforts underway for the remaining 18.

As of 2 a.m. yesterday, the rescue team had examined the tunnel blockage, wind flow, and gas conditions, and identified the location of the trapped workers through on-site inspection and trackers, Xinhua News Agency reported yesterday. Underground ventilation has been established.

Western Region Gold’s units Karamay, Yili, and Hami reported work safety incidents. Two workers died in 2017 and one in 2018.

Yili logged a net profit of CNY27.2 million (USD3.9 million) last year, accounting for around 37 percent of the parent company’s total.

Editor: Martin Kadiev