China to remain largest gold producer

BEIJING -- The China Gold Association, or CGA, forecast on Thursday that China will likely remain the world's largest gold producer for the sixth consecutive year in 2012.

The association's latest data showed that China produced 323 tonnes of gold from January to October, up 11 percent from the same period last year.

China surpassed South Africa to become the largest gold producer in 2007 and remained the biggest as of the end of last year, according to a report released Thursday by the CGA.

China is currently the world's second-largest gold consumer after India. In 2011, China's total gold consumption stood at 761.05 metric tons, the report said.

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