Strict rules weigh China's H1 Gold production

CHINA July 31 2017 4:35 PM

BEIJING (Scrap register): Gold production by China during the initial half of this year is seen to decline on the back of strict rules on solid waste from production and shrinking reserves. 

The production during January-June period of this year was 206.54 tons, which declined by about 9.85 percent from a year ago period. Of the total production, 178.46 tons were gold mineral, while 28.08 tons were a byproduct of nonferrous metal smelting. 

Last year China introduced strict rules in reducing the waste and to protect the environment, which lead to the closure of some gold mines and decline of production in some major producing provinces. 

The demand during the initial six months of this year was seen to increase by more than half. Sales increased 51 per cent to 158.40 metric tons when compared to a year ago period. 

Overall gold consumption increased by about 10 percent to 545.2 tons, including 330.8 tons for jewelry sales, while industrial demand and other uses increased 9 percent.