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China's proven gold reserves ranks seventh in the world
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15:24, May 05, 2008

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According to statistics, China's gold resources are between 15, 000 and 20,000 tons, and its proven reserves rank the seventh in the world, Hou Huimin, vice chairman of China Gold Association recently said in Shanghai.

Hou Huimin said, China's gold reserves amount to 4,634 tons, including 2,786 tons of rock gold, 593 tons of sand gold and 1,255 tons of associated gold. Hou said that China's gold resources are not very suitable for mining, because the main parts are rock gold and the proportion of associated gold is high; China has many small deposits but few large or super large deposits; the mining technology is complex, and there are not many open-air mining deposit.

According to reports, China has made breakthrough in mining technology for low-grade ore. At present, China has a complete gold industry chain ranging from exploration, extraction, processing to smelter. Some of the technologies have reached the international advanced level. Over the past 30 years, China has built more than 330 gold mines,with daily ore election reaching 110,000 tons.

By People's Daily Online

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