RAPAPORT... China's gold output rose by 7.15 tonnes in 2006 to a record 240.08 tonnes, according to data released by the National Development and Reform Commission (NRDC.)
The country's gold industrial output value climbed 34 percent in value to $6.6 billion in 2006. The NDRC attributed China's higher output and profit from its gold industry to rising global gold prices during the year. The global gold price opened at $517 per ounce and ended at $636.6 per ounce at the end of 2006.
China aims to increase its gold production by 8 percent in 2007 to 260 tons, nearly 20 tons more than 2006, according to the NDRC. In order to leverage on the opportunity brought about by high gold prices, the NDRC said it will take further measures to strengthen macro control and management of the gold industry.
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