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China has world’s second largest gold resource

Posted on 12 June 2014

While China has now been the world’s largest producer of gold for the past seven years, there have always been questions asked as to whether the current level of gold output (430 tonnes in 2013) is sustainable. Now figures out of The Bureau of Raw Material from the Ministry of Industry and Information Technology suggest that there certainly are sufficient gold resources available to retain this position for the foreseeable future.
According to a report on Asia First Chan Yanhua, Director of the Bureau has said that reserves found through geological prospecting had been increasing faster than the country’s mining rate – and had seen a substantial rise over the past three years. The Bureau put China’s gold resources as being 8,200 tonnes (263.6 million ounces), which it says is only exceeded by known South African resources of 31,000 tonnes (close to 1 billion ounces)………………………………………..Full Article: Source


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