Industrial Production News
- Nation to be world's No.2 gold producer
Date: 12-Jun-2007 Sources: (Shenzhen Daily)
CHINA, the world's third-largest gold producer, is likely to surpass the United States to become the second-largest producer of the precious metal in 2007, a senior industry official said Friday.
China plans to raise its gold production by 8.3 percent to 260 tons in 2007 amid strong international prices. Gold prices hit a 25-year high last year. Domestic demand was seen in line with production at 260 tons this year, supported by the jewelry sector, Wu Junyun, vice general manager of the international trading arm of the China National Gold Group Corp., told reporters on the sidelines of a conference in Shanghai. China's gold output rose 14 percent in the first four months of this year to 77.75 tons, extending a 7 percent increase in 2006 when it hit a record of 240 tons, data from the China Gold Association showed.
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