China's gold output rises 11.66%

China produced 403.1 tonnes of gold in 2012, up 42.1 tonnes or 11.66 percent year on year, according to new data released by the Ministry of Industry and Information Technology. Among the total, 341.8 tonnes came from gold mines, while 61.3 tonnes were a byproduct of nonferrous metal smelting, the ministry said. Meanwhile, gold producers realized 380.79 billion yuan (60.57 billion U.S. dollars) in industrial output value, up 33.91 percent. Their profits rose 4 percent to 35 billion yuan. Gold price in China declined in December last year following a downtrend in the international market as the deadlock in the United States' "fiscal cliff" bargain added to the market uncertainty, the ministry said.