We use cookies (including third-party cookies such as Google) to remember your site preferences and to help us understand how visitors use our sites so we can improve them. To learn more, please see our privacy policy and our cookie policy.

To agree to our use of cookies, click 'Accept' or choose 'Options' to set your preferences by cookie type.

Options Accept
BullionVault

CHARTS

  • English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Polski
  • 日本語
  • 简体中文
  • 繁體中文
  • Daily audit
  • Help
  • Contact
  • Deposit
  • Login
  • Open account
  • ABOUT US
    • About BullionVault
    • In the press
    • Reviews
    BUY/SELL BULLION
    • Vaulted gold & silver
    • -Live order board
    • -Daily Price
    • Coins for delivery (UK)
    INVESTMENT GUIDE
    • Guide to gold
    • -How to buy gold
    • -Gold investment
    • -Gold investment plan
    • -Investment insurance
    • -Compare asset performance
    • Guide to silver
    • -How to buy silver
    • Guide to platinum
    • -How to buy platinum
    GOLD NEWS
    • Gold news front page
    • -Gold price news
    • -Opinion & analysis
    • -Market fundamentals
    • -Gold/Silver Investor Index
    • -Infographics
    CHARTS
    • Gold price
    • Silver price
    • Platinum price
    • Price alerts
  • Login
  • Open account
  • BUY/SELL BULLION
  • Vaulted gold & silver
    • ⤷
    • Live order board
    • Daily Price
  • Coins for delivery (UK)
  • INVESTMENT GUIDE
  • Guide to gold
    • ⤷
    • How to buy gold
    • Gold investment
    • Gold investment plan
    • Investment insurance
    • Compare asset performance
  • Guide to silver
    • ⤷
    • How to buy silver
  • Guide to platinum
    • ⤷
    • How to buy platinum
  • GOLD NEWS
  • Gold news front page
    • ⤷
    • Gold price news
    • Opinion & analysis
    • Market fundamentals
    • Gold/Silver Investor Index
    • Infographics
  • CHARTS
  • Gold price
  • Silver price
  • Platinum price
  • Price alerts
  • ABOUT US
  • About BullionVault
  • In the press
  • Reviews
  • Help
  • Contact
  • Daily audit
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Polski
    • 日本語
    • 简体中文
    • 繁體中文

Gold News

Live support

NEED HELP? ASK US NOW

Search form

Gold News front page

Gold Price News

Gold Priced Like Covid Never Happened as Powell 'Fails to Rescue' Stocks from Bond Slump

More...

Gold Investing In Depth

Learn about gold bullion bars

Learn about gold bullion coins (and costs)

Gold investment: Why & how?

Gold Investment Analysis

  • Latest Gold Investor Index
  • Diversification: Gold as investment insurance
  • 40-year Asset Performance Comparison Table

Gold Articles

Opinion & Analysis

Gold Price News

Investment News

Gold in History

Gold Books

Gold Investor Index

Gold Infographics

Archive

  • March 2021 (5)
  • February 2021 (23)
  • January 2021 (25)
  • December 2020 (24)
  • November 2020 (23)
More...

List of authors

China's Gold Mining Output Shrinks Again

Wednesday, 4/18/2018 11:39
No.1 gold mining output -3% after 6% drop in 2017...
 
GOLD MINING output in China fell almost 3% in the first 3 months of 2018 compared with the same period last year, according to new data.
 
That extends the 6% annual drop recorded in 2017 according to the latest statistics from government-backed body the China Gold Association.
 
The world's No.1 gold-mining nation produced 98.2 tonnes in the first quarter, the CGA said down from over 101 tonnes a year earlier.
 
Environmental regulations drove the drop, the CGA says, forcing the "clean-up and orderly withdrawal of mining rights in the country's protected areas [while] some gold mines closed, causing China's gold production to continue its downward trend."
 
China's management of hazardous waste, for imstance, has become increasingly stringent in recent years, with a 2016 order listing cyanide tailings from gold mining "as a danger".
 
Globally 2017 saw a new record for gold-mining output, creeping almost 1% higher to 3,292 tonnes according to specialist consultancy Metals Focus, with the drop in China offset by 8% growth from No.3 producer Russia and 6% growth from No.4 the US.
 
Chart of global gold mining output in tonnes, 2010-2017. Source: BullionVault via Metals Focus' Gold Focus 2018
 
Output from No.2 miner Australia was flat, as was No.6 Peru, while No.5 Canada rose 5%, says Metals Focus in its new Gold Focus 2018.
 
The last 3 months of 2017 saw global output rise from a year earlier, says a separate report from rating agency S&P's mining research team. "However, the largest [company] producers did not drive that increase," S&P Global says, as "several of the top 10 gold miners had lower production than in the fourth quarter of 2016" with No.3 producer Goldcorp (NYSE:GG) shrinking 15%. 
 
No.1 gold mining company Barrick (NYSE:ABX) last week reported a 20% drop in its first quarter production from the same period last year.
 
Polyus Gold (MCX:PLZL), Russia's top miner, in contrast reported 13% year-on-year growth in its first quarter output on Tuesday, keeping it on track for 2018's expected target.
 
Polyus' stock price last week sank by almost one-fifth after majority shareholder Suleiman Kerimov was sanctioned by the United States Treasury "for being an official of the Government of the Russian Federation" – now blamed by the UK, US and their Western allies for the attempted murder of ex-spy Sergei Skripal in Britain in March.
 
The sanctions won't change how Polyus runs its business, says CEO Pavel Grachev.
 
Analysis by BullionVault recently found that since Western sanctions against Russia over its annexation of Crimea began blocking international sales of Russia gold in 2013, the central bank in Moscow has bought 70% of the country's gold-mine output, swelling its national bullion reserves to joint fifth-largest alongside China.
  • Reddit logo
  • Facebook logo
  • Twitter logo
  • Google logo
  • Yahoo logo
  • LinkedIn logo
  • Digg logo
  • StumbleUpon logo
  • Technorati logo

See all articles by Gold Bug here.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn

 

Mobile apps

 - live trading 24/7

 - buy & sell instantly

 - up-to-the-second charts

 

 

 

Daily news email
Go to 'communications settings' 

Get the latest daily gold price news free by email

Latest gold news by email

 

 

 

Gold Investor Index
2 March 2021

Silver Investor Index

Silver beats gold again

 

 

 

LBMA webinar
21 January 2021

LBMA

London gold trading

 

 

 

Bloomberg TV
1 February 2021

Bloomberg TV

r/silver-surge

 

 

 

ET Now
3 March 2021

Gold drop

Gold's big drop

 

 

 

  •  Email us

Market Fundamentals

  • Green Energy: Platinum Key to New 'Hydrogen Catapult'
  • 2021 Gold Price to Rise 11.5%: LBMA Forecast
  • 'Cut Bullion Duty to Cut Smuggling': India's Gold Industry
More...
  • Cost calculator
  • Cookies
  • Terms & conditions

©BullionVault Ltd 2005-

  • Twitter
  • Facebook
  • LinkedIn
  • YouTube

Save your cookie preferences

We use cookies to remember your site preferences, record your referrer and improve the performance of our site. For more information, see our cookie policy.

Please select an option below and 'Save' your preferences.

Save

You can update your cookie preferences at any time from the 'Cookies' link in the footer.

Secure auto-logout warning

You have not been active for some time.

For your security you will be logged out in   minutes unless you take action.