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Thursday, 11th March 2010 (806 views)

Gold production in China reached 21.81 tonnes in January, representing an increase of 8.13 per cent compared with last year.

This is according to new figures from the country's ministry of industry and information technology, which show that 17.8 tonnes of the precious metal was produced by gold mines, a rise of 4.28 per cent over January 2009, China Mining reports.

Gold by-products from nonferrous smelters, meanwhile, saw a surge of 29.37 per cent to 4.01 tonnes.

The news comes after previous figures suggesting that Chinese gold production reached a record high last year, soaring by 11.34 per cent to 313.98 tonnes.

According to the latest statistics, the gross industrial output value of China's gold sector reached 10.4 billion renminbi (£1.01 billion) in January, up by 35.84 per cent year-on-year.

Last month's Spring Festival saw Chinese sales of gold jewellery soar, according to China Daily.

Gold jewellery is traditionally a popular purchase at the start of the Chinese new year, an executive at Beijing's Caibai jewellery store told the news source.

 

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