Gold Prices, Technology, New Reserves Boost China's Gold Output

Source:

China's National Development and Reform Commission (NRDC) reported Tuesday that the nation's gold production increased 15.26% to 122.2 tonnes for the first six months of this year compared to the same period of 2006.

China's National Development and Reform Commission (NRDC) reported Tuesday that the nation's gold production increased 15.26% to 122.2 tonnes for the first six months of this year compared to the same period of 2006.

...NDRC said the technological advances and discoveries of new gold reserves contributed to the increase, along with higher gold prices, according to official Chinese news agency Xinhua.

The commission said the gold sector earned 3.47 billion yuan (US458.7 million) in net profits over the past six month for a 40.35% increase over the first six months of 2006. Industrial gold output increase 43.83% to 31.86 billion yuan (US$4.2 billion) during the first six months of 2007.

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