DeepseekerADS
Gold Member
- Mar 3, 2013
- 14,880
- 21,733
- Detector(s) used
- CTX, Excal II, EQ800, Fisher 1260X, Tesoro Royal Sabre, Tejon, Garrett ADSIII, Carrot, Stealth 920iX, Keene A52
- Primary Interest:
- Other
What country produces the most gold?
A:
China is the world’s largest gold-producing nation, a mantle that it has held for seven years consecutively. The rate of production of gold in China continues to rise, and the annual gold mining operations of the country have been growing at a rate of 10% every year. This is likely to continue in the future as the price of gold is predicted to continue to rise. This will encourage further investment in the industry from the Chinese government.
In 2013, it is estimated that 420 metric tons of gold were mined in China. This far outstripped other gold-producing nations including China's closest competitor, Australia. Australia mined an estimated 255 metric tons of gold in the same year. Chinese production of gold in 2011 accounted for 13.16% of the entire world’s production, and it is estimated that this was worth almost $19 billion.
Currently, China holds 1,000 tons of gold in its mines in reserve, and it is estimated that there are a further 1,900 tons of gold in China that can be mined. The gold mining industry in China consists of a large number of small mines, 60% of which are in five provinces: Shandong, Henan, Jiangxi, Yunnan and Fujian.
In addition to its global dominance in gold production, China is also the world's largest gold market. China is considered to be the world’s largest gold market not only because of its mining operations, but also become of the large amount of gold that the country imports and consumes.
A:
China is the world’s largest gold-producing nation, a mantle that it has held for seven years consecutively. The rate of production of gold in China continues to rise, and the annual gold mining operations of the country have been growing at a rate of 10% every year. This is likely to continue in the future as the price of gold is predicted to continue to rise. This will encourage further investment in the industry from the Chinese government.
In 2013, it is estimated that 420 metric tons of gold were mined in China. This far outstripped other gold-producing nations including China's closest competitor, Australia. Australia mined an estimated 255 metric tons of gold in the same year. Chinese production of gold in 2011 accounted for 13.16% of the entire world’s production, and it is estimated that this was worth almost $19 billion.
Currently, China holds 1,000 tons of gold in its mines in reserve, and it is estimated that there are a further 1,900 tons of gold in China that can be mined. The gold mining industry in China consists of a large number of small mines, 60% of which are in five provinces: Shandong, Henan, Jiangxi, Yunnan and Fujian.
In addition to its global dominance in gold production, China is also the world's largest gold market. China is considered to be the world’s largest gold market not only because of its mining operations, but also become of the large amount of gold that the country imports and consumes.
