Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
China 2012 gold output up nearly 12%: report
by Staff Writers
Shanghai (AFP) Feb 24, 2013


Gold production in China, the world's second largest market for the precious metal, surged nearly 12 percent year-on-year last year despite a slowdown in the domestic economy, state media reported.

Output rose to 403.1 tonnes in 2012, up 11.66 percent from 2011, the official Xinhua news agency said late Saturday, quoting figures from the Ministry of Industry and Information Technology.

China is the world's second largest consumer of gold after India. A global industry group, the World Gold Council, has put China's consumer demand for gold at 776.1 tonnes last year, flat from 2011.

The council attributed the stable Chinese demand to a slowdown in the domestic economy and consolidation in gold prices which discouraged investors, according to its latest report released this month.

China's economy -- the world's second largest -- grew at its slowest pace in 13 years in 2012, expanding 7.8 percent from the year before.

But the economy has been showing renewed vigour since late last year, with growth accelerating in the final three months of 2012 to 7.9 percent, snapping seven straight quarters of weakening expansion.

"The signs of economic improvement bode well for gold demand in China, although the indications are for a steady firming of demand rather than for strong growth," the World Gold Council said.

China's Ministry of Industry said domestic gold prices dropped in December last year as worries over the US "fiscal cliff" caused uncertainty.

US lawmakers clinched a last-gasp deal to avoid the fiscal cliff of tax hikes and spending cuts.

China's gold producers recorded a combined 35 billion yuan ($5.6 billion) in profits last year, up just 4.0 percent from 2011, the ministry said.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Sharp to suspend tie-up talks with Hon Hai: report
Tokyo (AFP) Feb 23, 2013
Struggling Japanese electronics maker Sharp plans to suspend tie-up negotiations with Taiwan's Hon Hai and search for new capital partners, local media reported on Saturday. Cash-strapped Sharp had been trying to seal a capital-injection deal with Hon Hai Precision, also known as Foxconn, by a March 26 deadline. But Sharp said it would be "difficult to conclude the deal by the deadline d ... read more


TRADE WARS
Nation Could Double Energy Productivity

China energy consumption rises 3.9% in 2012

Beijing's Pollution Alarms Neighbors

Quantum cryptography put to work for electric grid security

TRADE WARS
Turning carbon dioxide to fuel

Scaling up production of graphene micro-supercapacitors

Wireless power transfer technology for high capacity transit

Chevron pursues Australian shale

TRADE WARS
Global wind energy capacity grows 19 percent in 2012

Finding the right space for offshore wind turbines

Spotting the invisible cracks in wind turbines

New framework for wind energy assessments

TRADE WARS
SOLON Completes 5MW Prairie Fire Solar Plant

Physicists propose 'wireless' solar cells

SunWize to Develop Two Solar Photovoltaic Projects in Ecuador

ReneSola PV Module Installations Top 100 MW in Greece

TRADE WARS
Technical hitch closes Slovenian nuclear plant

Taiwan mulls nuke plant referendum

Finland's Fennovoima may downsize reactor plans

Trust our nuclear technology: French president to India

TRADE WARS
Engineering cells for more efficient biofuel production

Avoiding virus dangers in 'domesticating' wild plants for biofuel use

U.S. grasslands losing to biofuel crops

What green algae are up to in the dark

TRADE WARS
Welcome Aboard Shenzhou 10

Reshuffle for Tiangong

China to launch 20 spacecrafts in 2013

Mr Xi in Space

TRADE WARS
Global warming: Heat stress hits labour productivity

German greenhouse gas emissions rose in 2012

Climate change is not an all-or-nothing proposition

Climate change's costly wild weather consequences




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement