China may overtake South Africa as world`s top gold producer this year

Emerging global superpower China may snatch South Africa's crown as the world's top gold producer this year. South Africa has thus far managed to hold on to the crown, but China, which has established itself as the world's second-largest gold producer after seven years of continued growth, now looks set to overtake South Africa in the production stakes.

In the nine months to end September, China's output of gold reached 191,5 tons, which is just fractionally behind South Africa's output of 192,8 tons. "It will be very interesting to see how the world's largest gold-producing countries rank at the end of this year," said Australian mining consultants Surbiton Associates. "It looks like China could overtake South Africa to become the world's number one producer for 2007 ... Australia will probably take third place, followed by the United States," it said. (mg.co.za)