Leading gold producer sees output reach record high
Source: www.chinamining.org Citation: Xinhua Date: June 15, 2016
China National Gold Group Corp (CNGGC), the country`s leading gold producer, said on Tuesday that its output reached a record high of 16.9 tons during the first five months of the year, up 8.93 percent year on year.
Despite low gold prices, the company made 515 million yuan ($78.27 million) in profits during the period.
China`s gold industry is in a downturn. Revenues of the top 10 gold companies amounted to 86.4 billion yuan during the first quarter, down 1.88 percent from one year earlier.
The gold industry is faced with not only complex and demanding challenges, but also great development opportunities, said Song Xin, general manager of CNGGC.
Technological innovation is the most effective way to improve gold producers` competitiveness, Song said, adding that the company will continue to enhance its innovation capacity.
About CHINA MINING
Since first held in 1999, the scope and influence of CHINA MINING has grown rapidly year by year. As a global mining summit forum and exhibition, CHINA MINING Congress and Expo has become one of the world’s top mining events, and one of the world’s largest mining exploration, development and trading platforms, covering all aspects of the whole mining industry chain, including geological survey, exploration and development, mining rights trading, mining investment and financing, smelting and processing, mining techniques and equipment, mining services, etc. playing an active promotion role in creating exchange opportunities and enhancing mutual cooperation between domestic and foreign mining enterprises.
CHINA MINING Congress and Expo 2016 will be held at Meijiang Convention and Exhibition Center in Tianjin on September 22nd -25th, 2016. We invite you to join the event and to celebrate the 18th anniversary of CHINA MINING with us. For more information about CHINA MINING 2016, please visit: www.chinaminingtj.org.