to Be World Gold Leader
China will become the world's
leading gold producer in 2008, with output
reaching 300 tonnes, according to an estimate
made by the China Gold Association on Tuesday.
"Recent years have seen a continuous drop in
gold output in South Africa and the United
States, traditionally big gold producers, while
China maintains an annual growth rate of five
percent," said Hou Huimin, vice president of the
association, who believed that China was bound
to take the No.1 position of South Africa this
Latest statistics by the China Gold Association
show that the gold output of South Africa, which
has led gold output since 1905, was 272 tonnes
in 2007, while that of China was about 270.5
tonnes, 1.5 tonnes less than the former.
China has proven gold reserve of more than 650
tonnes in 2006, while another five gold deposits
were discovered since the beginning of 2007,
"With the improvement of exploration level and
technology in processing ores, the output of
gold will continue to increase," he said.
Gold production soared in China, where the
output stood at 4.5 tonnes in 1949 and 100
tonnes in 1995. China was the fourth largest
gold producer from 2000 to 2006.