Thursday, March 28th 01:45 AM IST

China produces 30.1 tons of Gold in January

# China gold  # largest gold consumer  # India gold  

China produced 403.05 mt of gold in 2012, up 11.7% from 2011 -- leaving the country as the world's top gold producer for the sixth year in a row.

BEIJING(BullionStreet): World's largest gold producer China produced 30.1 mt of gold in the first month of this year, up 24.8 percent from same month in 2011.

According to Ministry of Industry and Information Technology, about 24.6 mt of January's output came from primary gold mines, up 24.6% from January 2012.

The remaining 5.5 mt were byproducts from nonferrous metal mines. China produced 403.05 mt of gold in 2012, up 11.7% from 2011 -- leaving the country as the world's top gold producer for the sixth year in a row.

The top-producing provinces are Shandong, Henan, Jiangxi, Yunnan, Inner Mongolia, Gansu, Fujian, Hunan, Shaanxi and Anhui.Their combined output represented 82.71% of the country's 2012 output.

China's gold producers recorded a combined 35 billion yuan ($ 5.6 billion) in profits last year, up just 4.0 percent from 2011.

China is the world's second largest consumer of gold after India. A global industry group, the World Gold Council, has put China's consumer demand for gold at 776.1 tons last year, flat from 2011.

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