Gold China Largest Consumer And Producer
October 29, 2011 by staff
Gold China Largest Consumer And Producer, China is the world’s largest producer of gold, and is likely to overtake India as the world’s largest consumer in the next three or four years, strong demand for jewelry and investment.
Here are some facts about China’s gold industry and the market:
Official reserves: 1,054 tons, last reported in April 2009
* The Shanghai Gold Exchange is the gold market in China flagship. The exchange also trades silver and platinum.
* Gold futures are traded on the Shanghai Futures Exchange.
The main producers
* Zijin Mining Group Co
Based in the southern coastal province of Fujian and majority owned by local government, Zijin produced 69.07 tons of gold in 2010, 29.18 tons of gold extracted.
* China National Gold Group Corporation
The group, controlled by the central government, he produced over 32 tons of gold mined in 2010, according to local media. Largest gold producer in China has two units in the list, Zhongjin Gold (600489.SS: Quote, Profile, Research) and China International Gold (CGG.TO: Quote, Profile, Research).
* Shandong Gold Group
The group is controlled by the Shandong provincial government. Shandong Gold (600547.SS: Quote, Profile, Research) produced 19.41 tons of gold mined in 2010.
Largest producers OUT LISTED gold mined in 2010
- Zijin Mining (2899.HK: Quote, Profile, Research) (601899.SS: Quote, Profile, Research) (29.18 tons)
- Zhongjin Gold (600489.SS: Quote, Profile, Research) (19.70 tons)
- Shandong Gold (600547.SS: Quote, Profile, Research) (19.41 tons)
With most of the resources:
China Gold Group
- The group of controls of 1,300 tons of gold resources, as well as eight million tons of copper resources and 1.4 million tons of molybdenum resources.
Shandong Gold Group
- The group has about 800 tons of gold resources.
- The company controlled by 750.17 tons of gold resources at the end of 2010, and 1827.9 tons of silver resources.
Source: Reuters data, the People’s Bank of China (www.pbc.gov.cn), company presentations, company websites (www.chinagoldgroup.com, www.sd-gold.com, www.zjky. cn), state media said.
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