China 2012 Gold output up 12% to hit 403.1 tons
Country's gold producers recorded a combined 35 billion yuan ($5.6 billion) in profits last year, up just four per cent from 2011.
World's largest gold producer China's production hit 403.1 tons in 2012, up 11.6 percent from 2011.
According to China's Ministry of Industry and Information Technology, Among the total, 341.8 tons came from gold mines, while 61.3 tons were a byproduct of nonferrous metal smelting, the ministry said.
Country's gold producers recorded a combined 35 billion yuan ($5.6 billion) in profits last year, up just four per cent from 2011.
Gold price in China declined in December last year following a downtrend in the international market as the deadlock in the United States' "fiscal cliff" bargain added to the market uncertainty, the ministry said.
China is the world’s second largest consumer of gold after India. A global industry group, the World Gold Council, has put China’s consumer demand for gold at 776.1 tonnes last year, flat from 2011.
The council attributed the stable Chinese demand to a slowdown in the domestic economy and consolidation in gold prices which discouraged investors, according to its latest report released this month.
Sumber : Google
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