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China retains top spot in Gold production for 6th year

February 8, 2013
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Source: Bullion Street

File:Chinese Gold Miners b.jpg´╗┐

China retained it's top ranking in global gold production for the sixth year in a row with 403.05 tons in 2012.

According to China Gold Association, output last year grew by 11.66 percent a year ago and almost 100 times from 1949, when the country achieved independence from British colonialists.

China's first recorded gold production back then was at 4.07 tonnes.

Earlier, the China Gold Association said that it aims to produce between 420 and 450 tonnes of the precious metal in 2015, while consumption may reach 1,000 tonnes by then.

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