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Tuesday, 12th May 2009 (959 views)

Xinjiang has forecast that gold output will exceed ten tonnes this year, an increase of 20 per cent compared with figures from 2008.

Data from the Chinese region's Gold Administrative Bureau indicates that gold exploration and discovery activity in the area has grown in recent years, according to the People's Daily.

The production capacity of large-sized gold enterprises is currently responsible for almost 60 per cent of total output in Xinjiang.

A series of mergers have helped to consolidate the precious metal sector over the past year and led to the creation of a series of large enterprises that dominate the market, the news source stated.

Gold output for the first three months of 2009 was 869kg, up by 6.45 per cent over the year, the statistics revealed.

The Xinjiang Uygur autonomous region of China is located in the north-west of the country and covers one sixth of its territory, or 1.66 million sq km.

 

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