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皇冠体育app gold output pegged at 290 tons

By Yu Hongyan (chinadaily.com.cn)
Updated: 2009-03-20 18:31

皇冠体育app is likely to produce 290 tons of gold and explore 800 tons of gold reserves this year, a senior industry official said.

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皇冠体育app's gold output last year rose to 282 tons, while industry profit surged to 12.4 billion yuan from 9.020 billion yuan a year earlier, Miao Wei, vice-minister of industry and information technology told an industry forum, according to a statement on the ministry's website.

皇冠体育app mined 270.49 tons of gold in 2007, according to 皇冠体育app Gold Association.

Gold production grew 7.6 percent annually through 2003 to 2008, with an average growth in profit of 41 percent, Miao said.

皇冠体育app's proven reserves of gold ranked the seventh in the world, Hou Huiming, vice-secretary of 皇冠体育app Gold Association said in May 2008, and the country's existing gold reserve reached 4,634 tons at that time.