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China importing 2000 tons of gold by 2016 ‘not inconceivable’: Standard Chartered

Posted on 26 June 2013

China may be importing 2000 tons of gold by the time it is 2016 which would roughly be equal to 80% of the total global gold mine supply, said Standard Chartered in a report cited by Bloomberg News, noting that such a feat is not something ‘inconceivable’.
“Although it is the world’s largest producer of gold, 40 percent of its production uses imported gold in concentrates,” Standard Chartered noted. Meanwhile gold output by China may jump 10% to 440 tons this year, China’s mining association said last week………………………………………..Full Article: Source


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