China May Pass SA as World's Leading Gold Producer This Year

Source:

For the first nine months of 2007, China's gold production totalled 191.5 tonnes, which was just behind South Africa's declining total of 192.7t, and could overhaul the latter in the final quarter of the year.

For the first nine months of 2007, China's gold production totalled 191.5 tonnes, which was just behind South Africa's declining total of 192.7t, and could overhaul the latter in the final quarter of the year.

Dr Sandra Close of Melbourne-based Surbiton Associates, said that Australia eclipsed United States production with 184.5t for the nine months compared with the US estimate of 179t...

"The Australian gold price reached an all time closing high of $A939 per ounce on November 26 ($US826.32/oz today) and was even higher during the day," said Dr Close. "This occurred due to a combination of a higher $US gold price and a lower Australian dollar exchange rate."

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