China Increase its Gold Production Once More

Chinese gold miners

(Reuters) – The world largest gold producer, China, increased its gold production again this year, 2013.

Industrial website of China Gold Association said on Wednesday that the country produced 307.809 tonnes of gold from January till September this year, an increase by 6.8% in production compared to the same period last year.

China produced 37.642 tonnes of gold in September alone, according to China Gold Association.

The country became the world top gold producer since 2007, overtaking South Africa as the former world largest gold producer country. China produced 276 tonnes of gold then.

In 2012, China produced 403 tonnes of gold, increasing production by 11.7% for that year. As the world top gold producer, china accounted for 13.7% of the world’s gold production.

China also has become the world’s top gold consumer this year, according to the WGC Q3 report.