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