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Updated: 2012-11-27 07:49
( China Daily)

Gold supply gap to expand further in 2015: Ministry

China's gold consumption is expected to exceed 1,000 metric tons in 2015, but its gold output will only reach 450 tons, the Ministry of Industry and Information Technology said on Monday. China will strengthen the geological exploration of gold, promote related companies' mergers and reorganization, accelerate their technological upgrading and strengthen global resource allocation, said a statement from the ministry. China is expected to increase its gold reserves to between 8,000 and 9,000 tons during the 12th Five-Year Plan (2011-15), 20 percent higher than during the 11th Five-Year Plan (2006-10).

Prospects looking up for steel industry

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