Rise in China’s gold output

August 5th, 2011 - 3:05 pm ICT by IANS  

Beijing, Aug 5 (IANS) China produced over 160 tonnes of gold during the first half of the year, authorities said.

China’s gold output grew by 5.18 tonnes, or 3.25 percent year-on-year to 164.42 tonnes during the first half of the year, the ministry of industry and information technology said Friday.

In June, the country produced 32.39 tonnes of gold, according to a statement on the ministry’s website.

The combined output value of Chinese gold producers amounted to 119.54 billion yuan ($18.55 billion) during the first half, up 23.37 percent from a year earlier, reported Xinhua.

The first-half profits jumped 34.19 percent year-on-year to 13.76 billion yuan, the statement said.

China became the world’s biggest gold producer in 2007. Its gold output reached 340.88 tonnes in 2010.

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