Jiangxi ranks third gold output

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Last updated at: (Beijing Time) Thursday, March 11, 2004

Jiangxi ranks third gold output

East China's Jiangxi Province produced 12.868 tons of gold in 2003, up 23 percent year-on-year, becoming the country's third leading gold producer, after Shandongand Henan provinces.

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East China's Jiangxi Province produced 12.868 tons of gold in 2003, up 23 percent year-on-year, becoming the country's third leading gold producer, after Shandongand Henan provinces.

Jiangxi plans to turn out 15.2 tons of gold this year, which would be a rise of 18.12 percent year-on-year, according to a recent work conference on the local gold industry.

The local gold industry will spend 50 million yuan (6 million US dollars) in fixed assets investment in 2004, double the figure of 2003, and another 50 million yuan (6 million dollars) in geological exploitation, a big leap from 11 million yuan (1.32 million dollars) a year ago.

As a result, the industry is expected to earn 75 million yuan (9 million dollars) in profits in 2004, up 23 percent year-on-year.

More than 200 gold fields and spots, included 68 gold beds, have been discovered in Jiangxi, which had had a proven gold reserve of 500 tons by the end of 2002.

New gold resources proved locally in 2003 reached 32 tons, withthe amount in 2004 was expected to reach 20 tons.

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