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China's gold output up 6.59% in Jan-May

Jul. 5, 2012 (China Knowledge) - China saw its gold output increased 6.59% YoY to 140.7 metric tons in the first five month of this year, according to statistics released by the Ministry of Industry and Information Technology.

Last month, China's gold output reached 31.2 metric tons.

From January to May 2012, China's gold mines produced a total of 115.6 metric tons of gold, 5.94% more than in the same period of last year, and colored-by-product gold from nonferrous smelters grew 9.69% YoY to 25.1 metric tons.

China's top ten gold producers, including China National Gold Group Corp, Zijin Mining Group Co Ltd<601899><2899> and Shandong Gold Group, saw their combined output of gold products rise 0.96% from the same period of last year to 70.3 metric tons, accounting for 49.95% of the country's total.
The gross output value of the gold industry rose 17.95% YoY to RMB 110.65 billion in the first five months, and the sector's profit climbed 2.66% to RMB 11.23 billion. In May, the industry realized RMB 24.48 billion in gross output and RMB 2.35 billion in profit.

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