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33

China Steps Up Gold Output

China's annual gold output was currently increasing

China's annual gold output was currently increasing at a rate of 5% per annum and by 2009 the country could surpass South Africa or Australia as the world's number one gold miner, CPM Group Managing Director Jeffery Christian said on Thursday.

A decade ago, China was producing three million oz of gold per annum to about seven million oz at present.

"There is quite a bit of exploration on the go in China," Christian said.