Mainland China Still #1 Gold Producer

340.88 tonnes of gold were produced in maninland China last year, according to the National Development and Reform Commission (NDRC), making it the #1 gold producing nation in the world for the fourth year in a row.

The NDRC said China's gold industry has been developing fast, at an annual growth rate of 9.8 per cent from 1978 to 2007.

China produced 270.5 tons of gold in 2007, becoming the No. 1 gold producer for the first time.

Interestingly, there's been some consolidation as the production figures have moved up. Instead of the 1,200 companies that were in the field as of five years ago, there are now only about 700.