China, poised to overtake the US as the second-biggest gold
producer this year, could deplete its bullion mines in six years
and companies should speed up overseas investments, Zijin Mining
Group Co said.
The Asian nation produces more than 200 tons of the precious
metal a year from its mines, and could run out of ore without new
discoveries, Ren Guangzhi, general manager of investment at Zijin,
owner of China's largest gold mine, said in Shanghai yesterday.
Bloomberg News reported rising economic growth in China has led
to surging demand for jewelry and spurred higher production from
Zijin Mining and Zhongjin Gold Corp.
(Shanghai Daily December 7, 2007)
