China Minmetals buys majority stake in Canadian miner<http://www.chinadaily.com.cn/bizchina/2008-01/30/content_6430906.htm> (Xinhua) Updated: 2008-01-30 14:54
China Minmetals announced in Beijing on Tuesday that it has bought a majority stake in Northern Peru Copper (NPC) of Canada, thus acquiring the property of El Galeno copper and gold mine and Hilorico gold mine in northern Peru....... China bags silver in gold<http://www.chinadaily.com.cn/bizchina/2008-01/30/content_6430403.htm> (Agencies/China Daily) Updated: 2008-01-30 10:39 China's gold output rose 12.67 percent in 2007 to 270.491 tons, but the gain was not enough to overtake top producer South Africa, the deputy secretary-general of the China Gold Association said yesterday. *Related readings: *China becomes world's 2nd largest gold producer<http://www.chinadaily.com.cn/china/2008-01/29/content_6428667.htm> Gold shoots to record $927/ounce<http://www.chinadaily.com.cn/world/2008-01/29/content_6427517.htm> 'Gold rush' grabs Chinese as prices hit new high<http://www.chinadaily.com.cn/bizchina/2008-01/19/content_6406185.htm> Old frenzy missing as gold prices hit record<http://www.chinadaily.com.cn/bizchina/2008-01/08/content_6378410.htm> Gold futures jumps higher upon debut<http://www.chinadaily.com.cn/bizchina/2008-01/09/content_6381474.htm> Production fell just short of South Africa's 272 tons. The two countries were neck and neck in gold output in the second half of the year, leading London-based GFMS to estimate that China had already become the world's largest producer in 2007. "The real output may be a little higher and we may have to adjust final figures a little because of the special characteristics of Chinese statistics, but for now we are going with 270.5 tons," Hou Huimin told Reuters. Output in the fourth quarter leapt to 79.035 tons, according to Reuters' calculations, as miners raced to cash in on rising gold prices. Gold hit a record high of $929.40 an ounce yesterday. China now accounts for over a tenth of the world production, estimated at 2,444 tons by GFMS. Global output fell 1 percent in 2007, GFMS estimated, as gold mining costs passed $400 per ounce for the first time in the third quarter.............
