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China is the world’s largest gold producer, and likely to overtake India as the world’s biggest consumer in the next three to four years, on robust demand in jewellery and investment.
Here are some facts about China’s gold industry and market:
OFFICIAL RESERVES: 1,054 tonnes, last reported in April 2009
* The Shanghai Gold Exchange is the flagship gold market in China. The exchange also trades silver and platinum.
* Gold futures are traded on the Shanghai Futures Exchange.
* Zijin Mining Group Co
Headquartered in the southern coastal province of Fujian and majority-owned by the local government, Zijin produced 69.07 tonnes of gold in 2010, including 29.18 tonnes of mined gold.
* China National Gold Group Corporation
The group, controlled by the central government, produced more than 32 tonnes of mined gold in 2010, according to local media. China’s biggest gold producer has two listed units, Zhongjin Gold (600489.SS: Quote, Profile, Research) and China Gold International(CGG.TO: Quote, Profile, Research).
* Shandong Gold Group
The group is controlled by the provincial government of Shandong. Shandong Gold (600547.SS: Quote, Profile, Research) produced 19.41 tonnes of mined gold in 2010.
BIGGEST LISTED PRODUCERS BY MINED GOLD OUTPUT IN 2010
- Zijin Mining (2899.HK: Quote, Profile, Research)(601899.SS: Quote, Profile,Research) (29.18 tonnes)
- Zhongjin Gold (600489.SS: Quote, Profile, Research) (19.70 tonnes)
- Shandong Gold (600547.SS: Quote, Profile, Research) (19.41 tonnes)
With most resources:
China Gold Group
- The group controls 1,300 tonnes of gold resources, as well as eight million tonnes of copper resources and 1.4 million tonnes of molybdenum resources.
Shandong Gold Group
- The group owns about 800 tonnes of gold resources.
- The company controlled about 750.17 tonnes of gold resources by the end of 2010, and 1,827.9 tonnes of silver resources.
Source: Reuters data, People’s Bank of China (www.pbc.gov.cn), company filings, company websites (www.chinagoldgroup.com, www.sd-gold.com, www.zjky.cn), state media.