China Becomes World’s Largest Producer of Gold
In 2010, China mined the record amount of gold in the world. The production volume of nonferrous metals in China amounted to 340.88 tons, which is 8.57% higher than a year earlier, and continues to grow. In recent years, China has consistently increased the amount of its gold reserves. Nevertheless, experts believe that China has a long way to go to reach the level of the world leading economies.
According to the China Gold Association, in 2007 China ranked first in terms of gold mining. It outran South Africa and is holding this position to this day. Starting 2004, the volume of production of the precious metal in China has been steadily growing. In 2009 it amounted to 313.98 tons. The volume of the gold imported by China within ten months of 2010 amounted to 209.72 tons, which is six times more than the year before, Rosbalt reported. (more…)
