Monday, 13th June 2005 (2695 views)

Chinese gold enterprises have seen profits increase by more than 40 per cent, according to statistics from the China Gold Association (CGA).

The CGA revealed today that profits made by Chinese gold companies between January and April this year reached 1.07 billion yuan (£70 million), representing an increase of 41.15 per cent on the same period last year.

The increase comes despite the fact that, according to the CGA and the official news agency Xinhua, China's gold mines produced 7.52 per cent less than this time last year, producing 45.892 tons of gold.

Smelting enterprises did see an increase, however, moving up 6.49 per cent to 28.142 tons.

Today's China Securities Journal indicates that the total gold production in the first four months of this year was up 2.85 per cent to 60.258 tons, generating a combined industrial output value of 11.098 billion yuan (£740 million).

 

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