Friday, 13th August 2004 (2483 views)

The China Gold Association has predicted that gold output in the Chinese Mainland will reach 210 tonnes this year.

Gold producers have seen profits boom in the mainland and output already reached 93.351 tonnes during the first half of 2004, according to China Daily.

Figures from the association show that output has so far increased by 5.94 per cent whilst profits are up by 31.28 per cent.

Wang Yanping, an official from the gold association explained: "We will be able to produce more gold to satisfy mounting domestic demand in coming years as the sector has opened to foreign investors.

"Gold demand in China has huge growth potential with the opening of individual gold investment business."

The precious metal is also doing well since overseas investors are now investing in gold prospects and exploration in China.

 

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