China gold output up 10.08% in Q1

Category: China | Gold Trading May 15, 2012 | Comments Off Share
Gold Trading

China's gold output up 10.08%

China’s gold output increased by 7.4 metric tons or 10.08% year on year to 80.8 metric tons in the first three months of this year, according to statistics released by the Ministry of industry & Information Technology.

In March, the country’s gold output was 29.8 metric tons.

Gold mines in the country produced 67.1 metric tons of gold in the first three months, 11.34% more than that in the same period of last year, while colored-by-product gold from nonferrous smelters increased by 4.29% year on year to 13.7 metric tons.

During the same period, China’s top ten gold producers, including China National Gold Group Corp, Zijin Mining Group Co Ltd and Shandong Gold Group, saw their combined output of gold products rise 6.36% from the same period of last year to 41.3 metric tons, accounting for 51.10% of the country’s total.

The gross output value of the gold industry surged 35.41% year on year to RMB 63.31 billion in the first three months, and the sector’s profit jumped 30.35% to RMB 6.66 billion. In March, the industry realized RMB 23.27 billion in gross output and RMB 2.54 billion in profit.

 

Source: China Knowledge


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