Is China's 13th five-year plan gold production target achievable?
Chinese gold production has risen steadily over the past three decades, and has doubled in the past 10 years. China overtook South Africa as the world's largest gold producer in 2007, but last year experienced virtually flat year-on-year output growth. The country has set a target of 2,500t of gold production during the 13th Five-Year Plan (FYP) period (2016-2020). From the current production base (of ~450 tpa) this implies annualised growth of 3.5% to around 530t by 2020. The insight looks at the government initiatives to support this plan, the resources and industry structure of Chinese gold miners and whether the FYP target and longer term output growth is feasible.