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China’s Q1 gold output down 10% on year to 74 tonnes

ABSTRACT

In the first quarter of 2021, China’s domestic gold output totaled 74.4 tonnes, with 15.5 tonnes being by-products from nonferrous mining, according to a release by the China Gold Association on April 30. Total production fell 9.9% on year, mainly due to the two mining accidents during the quarter in Shandong, a core gold mining base in the country.
Among the total, China’s top-tier gold miners including China Gold produced 30.8 tonnes of gold over January-March, or 52.3% of the country’s total, with the proportion being 6.65 percentage point higher than the first quarter of 2020, suggesting the further enhancement of concentration in the industry. As for gold consumption nationwide in Q1, the volume reached

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