 | | 
| |
China has a long history of gold production. As early as 1091 BC, gold was legalized as money (as an alternative to silk), circulating in little squares. Hebei province, one of the main mining areas, claims production for over three thousand years. The Zhao Yuan mine in Shandong province has been worked for over a thousand years; other Shandong mines date from the 17th century.
After more than a century on the throne, South Africa has been deposed as the world's biggest producer of gold, with its estimated 2007 output, of 272 tonnes, falling just short of the 276 tonnes of the yellow metal produced by the new number one, China. While Chinese gold production increased by an estimated 12% year-on-year, South African mines produced 8% less gold than in 2006, according to precious metals consultancy GFMS's 'Gold Survey 2007 - Update 2'.
Compared to other countries, China's resource sector is relatively underdeveloped. A historical lack of investment capital and new technologies has prevented many of its quality properties from being fully explored or developed. China is now establishing an open policy to encourage foreign investment in gold exploration and mining. In March 2003, the National Development and Reform Commission (NDRC) was formed and soon established new regulations for exploration and mining licenses similar to those of Australia and North America.
By December 2003, the Chinese State Council published "China's Policy on Mineral Resources". The overall objectives of the policy are to: depend on and encourage the exploitation and exploration of China's own mineral resources; increase China's domestic capability of mineral resource supply; import foreign capital and technology; and, to help Chinese mining enterprises and mineral products enter the international market. In mid 2003 the Shanghai Gold Exchange was also established, operating as a free-market forum for gold trading and pricing.
China Quick Facts:
| Geography |
China, (People's Republic of China), is situated in eastern Asia, bounded by the Pacific in the east. The third largest country in the world, next to Canada and Russia, it has an area of 9.6 million square kilometers, or one-fifteenth of the world's land mass. |
| Capital |
Beijing (Area: 16,800 square kilometers; Population: 12.59 million) |
| Population |
1,321,851,888 (July 2007 est.) |
| Economic Growth | + 8% |
| Climate |
Extremely diverse; tropical in south to subarctic in north |
| Government Type |
Communist state |
| Languages |
Standard Chinese or Mandarin (Putonghua, based on the Beijing dialect), Yue (Cantonese), Wu (Shanghaiese), Minbei (Fuzhou), Minnan (Hokkien-Taiwanese), Xiang, Gan, Hakka dialects
|
| Nationalities |
The People's Republic of China is a unified, multi-national country, comprising 56 nationalities |
| Money |
Chinese Money is called Renminbi (RMB) (means "People's Currency"). The popular unit of RMB is Yuan. (1.00 U.S. Dollar = 8.06 Yuan Feb. 7/06)
|
| Industries |
Mining and ore processing, iron, steel, aluminum, and other metals; coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizers; consumer products, including footwear, toys, and electronics; food processing; transportation equipment, including automobiles, rail cars and locomotives, ships, and aircraft; telecommunications equipment, commercial space launch vehicles and satellites
|
Excerpts from:
Mineralium Deposita (2002) - Tectonics and distribution of gold deposits in China - an overview
| | | |
