Dec 07 - Two-Third of China’s Gold Mines Face Resource Crisis, Gold Consumption Becomes Reliant on Imports

Source: China Economic Weekly, ChinaScope Financial (Data)

+    China’s gold production will exceed 350 tons in 2011, whereas, gold consumption would be reaching 400 tons. The market will become increasingly dependent on gold imports.

+    According to the third census in the gold industry, only 118 gold companies in the country have maintained stable production capacity.

+    Two-third of gold mines in China are facing resource crisis and the number is increasing quickly.

+    Related Data: Gold Production in China, Mineral Resources of China, Mineral Resources for Major Gold Companies, Consumer Gold Demand in China

+    Related Companies: China Gold International Resources (HKEX:2099), Lingbao Gold (HKEX: 3330), Real Gold Mining (HKEX: 0246), Shandong Gold Mining (SSE: 600547), Zhongjin Gold (SSE: 600489)

Gold production in China is maintaining a stable growth.

 

The major listed gold companies constitute about 50% of total mineral resources.

Driven by both consumer and investment needs, Chinese gold demand has a strong growth in recent years.

For more data of gold industry and companies, please visit www.chinascopefinancial.com

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