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NW China region's gold output up 30.9%
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16:03, July 26, 2008

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Northwest China's Xinjiang Uygur Autonomous Region produced 3,081 kg of gold in the first half, a 30.9 percent rise from the same period last year.

A regional gold administrative bureau official attributed the increased output to new gold-producing ventures in the area and the application of new exploiting technologies.

Boasting the biggest landmass in the country, Xinjiang is rich in both oil and gold resources. It has 28 metallogenic belts where gold ore is found in more than 600 venues. The estimated gold resources are placed at 207.48 tons.

The remote region has seen a rise in gold exploration and development investment over the past few years. Since 2002, Xinjiang has seen more deals struck involving gold exploration and development with signed contracts worth 400 million yuan (about 58.6 million U.S. dollars).

Xinjiang is currently home to 52 gold mining ventures capable of producing 7.1 tons of the metal annually. It is ranked 10th in the nation for gold output.

By 2010, it is expected Xinjiang will add an extra 100 tons of potential gold reserve with its annual production capacity rising to 10 tons.


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