Rising gold production in China

Rising gold production in China

China produced 403.05 tonnes of gold in 2012, an increase of 11.7% compared to 2011. This means that China will be able to compete with the 6^e is the largest gold producer in the world time in a row.

For many years, Africa held this title. But thanks to the new techniques and new gold mines, China has conquered this title in a short time. In 2012, gold production increased sharply again. In 2012, 24.8% more gold was extracted from the mines in the first month than in 2011.

Most of this gold comes from primary gold mines in China. About 5.5 tonnes of gold come from non-ferrous metal mines and are by-products for China.

The top-producing provinces are:

Shandong, Henan, Jiangxi, Yunnan, Inner Mongolia, Gansu, Fujian, Hunan, Shaanxi and Anhui.

Gold production in 2012 provided 35 billion yuan ($5.6 billion) in profits for China. That's only a 4.0% increase compared to 2011. By applying and building new sustainable techniques, the increasing percentage of profit is lower than the increasing percentage of production.

Source: www.bullionstreet.com