7:18 pm - Thursday July 24, 2014

China still remains the No.1 Gold producer in the world

Asia Bizz: China is still the no.1 gold producer in the world, which makes its stand higher than any other gold producing nation in the world, including South Africa and Canada. For the year 2010, the country produced 340 tonnes of gold, which was 8.57% higher than last year. This makes China the top producer of gold for the fourth year in the row, and this also provides the country more than sufficient gold monetary reserve.

According to the National Development and Reform Commission (NDRC), they state that the China Gold Industry has been growing consistently since 1978 at an average rate of 9.8%, eventually making it the top gold miner in the world.

In the year 2007, China produced 270 tonnes of gold, making it the top producer ever since. Gold is getting rarer by the day, and the price of this metal has been increasing consistently. Most of the gold today is being used for preparing a reserve, but China’s growth may alert everyone.

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