Last Updated :
03 February 2010 at 15:00 IST
China produces 313.98 tons of gold in 2009
BEIJING (Commodity Online) : China
Gold Association said country’s gold output was 313.98 tons last year, up 11.34% over 2008, exceeding 300 tons for the first time.
According to latest statistics, CGA said in 2009, China’s gold industry's gross industrial output value was 137.53 billion yuan, up 18.56% year on year, and the average price of gold was $ 972.35 per ounce, up 11.51% year on year.
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The top five gold-producing provinces were Shandong, Henan, Jiangxi, Fujian and Yunnan, which contributed a combined $59.48% of total domestic gold production.
The association said the top ten
Gold companies mined 148.55 tonnes of gold for 47.31% of China's total production.
It also was the third consecutive year for China to rank first in global gold production.
China's annual gold production exceeded South Africa for the first time to become the world's largest gold producer.
The association also reported China has been closing and merging small gold mining companies with the total number of gold producers falling from more than 1,200 in 2002 to about 700 in 2009.
The gold transactions on the Shanghai Gold Exchange totalled 4,705.9 tons, generating turnover of 1.03 trillion yuan.
On the Shanghai Futures Exchange, gold contracts numbered 6.81 million and generated turnover of 1.53 trillion yuan.
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