China produces more gold in 2010

13:37, January 09, 2011      

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China's gold output in the first 11 months of last year reached 308.39 tonnes, up 25.885 tonnes or 9.16 percent year on year, according to the latest figures from the Ministry of Industry and Information Technology (MIIT).

The MIIT forecast total gold output in China would exceed 340 tonnes in 2010, comparing 313.98 tonnes of gold produced in 2009.

China's gold output has maintained annual increases in recent years as production in 2010 would likely double that in 2000.

China is a major gold consumer around the world. A World Gold Council report released last March showed China's cumulative gold demand totaled more than 14 billion U.S. dollars in 2009, which accounted for about 11 percent of the world's total.

Source: Xinhua
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