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CGA Expects China Gold Output to Increase by Over 10% This Year

iconJun 15, 2011 16:52
Source:SMM


SHANGHAI, Jun.15 (SMM) -- In the morning of 15th June, vice president of China Gold Association (CGA) predicted that “China’s gold output will increase at least 10% this year.”

According to previous CGA statistics, China’s gold output in 2010 was 340.876 mt, while consumption totaled 571.5 mt, leading to supply shortages.

During the same day, China Gold International, a Hong Kong listed company reported a gold output of 25,385 ounces during April and May in its Changshanhao gold mine located in Inner Mongolia, which is 90.52% higher than the 2010’s figure of 13,324 ounces. Hence, the company has lifted its output target of Changshanhao gold mine in 2011 from 120,000 to 125,000 ounces.

China Gold Group, holding company of China Gold International, has been ranked No. 1 for both sales revenue and mine gold output among top 10 of its kind in 2010 China, according to a CGA ranking.

 


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