Thursday, 17th January 2008 (2593 views)

China moved ahead of South Africa to become the world's largest gold producer in 2007, according to a new study.

The result is contained in the Gold Survey 2007 from London-based precious metals consultant GFMS, which unveiled the report on January 17th.

China's ascension to the top spot marks a shift in worldwide gold production, as South Africa had held the position for 102 years.

In addition to China's rising output, increased gold mining was also recorded in Indonesia, Brazil and Ghana, while production in Australia remained steady.

Global gold mine production for 2007 was 2,444 tonnes, the report said.

In related news, Reuters reports that a mining think tank in Chile has announced that it expects the country to join the top ten gold producers in the world over the next decade as new mines come on line.

 

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