China’s gold production rises 13.5%
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SAPA-AFP
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Published:
2009/08/06 08:23:54 AM
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A cleaner opens a window as he abseils the front of a building in the financial district of Beijing
China’s gold production rose 13.5% year-on-year in the first half of 2009 to 146.51 tonnes, according to official figures.
Gold companies’ profits, however, were down 15.75% in the same period at $820 million, the Ministry of Industry and Information Technology said in a statement.
It did not provide further details in the Wednesday-dated statement.
Chinese gold output hit a record high at 282 tonnes in 2008, making it the world’s largest gold producer followed by the United States and South Africa.
The nation was the world’s second largest gold consumer after India last year, according to the World Gold Council.
But in the first quarter of this year, mainland China overtook India on gold consumption by 87.5 tonnes thanks to peak purchasing of jewellery during the Lunar New Year, the council said.