China may become top 2007 gold producer Sunday Dec 2 17:15 AEDT
China could usurp South Africa
and claim the number one gold producer spot in 2007, with
the price of the yellow metal remaining strong.
Mining consultants Surbiton Associates Pty
Ltd said that while China's gold output was marginally behind
South Africa, the Asian nation could potentially take out
the title for the 2007 calendar year.
"It looks like China could overtake South
Africa to become the world's number one producer for 2007,"
Surbiton Associates director Dr Sandra Close said.
"Australia will probably take third place,
followed by the United States."
South Africa produced 192.8 tonnes of gold
during the nine months to September 30, with China trailing
on 191.5 tonnes, while Australia's output came in at 184.5
tonnes.
Meanwhile, Dr Close said the Australian gold
price reached an all time closing high of $A939 per ounce
on November 26.
"This occurred due to a combination of
a higher US dollar gold price and a lower Australian dollar
exchange rate."
Australian mines produced 61.7 tonnes or two
million ounces of gold during the three months to September
30, according to Surbiton.