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Chinese gold production sets record

2010-01-13 17:43 BJT

Buoyed by strong gold prices this year, China's gold production figures for 2009 are expected to come in at 310 tons, consolidating its position as the world's largest gold producer.

The world gold association predicts that global gold production in 2009 exceeded 2500 tons... 3-and-a-half percent higher than 2008. This is the first rise in world gold production in 9 years. China's 310 tons represent an output jump of over 10 percent year-on-year. However experts stress that maintaining such robust growth in production does not necessarily mean more negative impact on the environment.

Song Xin, Deouty GM of China National Gold Group, said, "We aim to be the world's No.1 producer not only in production volume, but also in environmental protection. We give high priority to protecting environment in production. We put 5 percent of annual investment in building energy-saving and recycling facilities."

According to the China National Gold Group, its carbon dioxide and COD emissions in 2009 dropped 3.2 percent and 5.1 percent respectively compared to a year ago.

Gold production will likely continue to rise, buoyed by solid gold prices, which forged ahead steadily as a result of the weak US dollar and low-interest rate policy to curb recession.

Analysts predict interest in gold investment will remain high, as must the threat of inflation after government stimulus packages around the globe, and the weight of money entering the market from non-traditional investors could help the precious metal rise above the 13-hundred US dollar threshold.

Editor: Liu Anqi | Source: