年中國黃金產出下降9%

The gold market may be obsessed about the dollar and prospect of a rise in US interest rates. But there’s another factor looming on the horizon: a fAll in gold mine supply.

黃金市場可能會對美元以及美國加息的前景着迷。但還有一個因素正在逼近：金礦供應下降。

After rising every year since 2008 global gold supply plateaued last year, according to the World Gold Council. In China, the world’s biggest producer, it fell by a record 9 per cent, the second time output has fallen in the country since 1980.

根據世界黃金協會(World Gold Council)的數據，自2008年以來全球黃金供應每年都增長，這一增長在去年陷入停滯。作爲世界最大的黃金生產國，去年中國的黃金供應創紀錄地下降9%，這是自1980年來中國的黃金產出第二次下降。

China accounts for about 15 per cent of the world’s gold production, a higher proportion than Saudi Arabia has in the oil market. But since 2016 authorities have tightened their scrutiny on gold mining, which has led to the closure of smaller mines in the country.

中國約佔世界黃金產量的15%，這個比例高於沙特佔石油市場的比例。但自2016年以來，中國當局收緊了對黃金開採的審查，導致中國的小型金礦紛紛關閉。

“The environment is gaining increasing appreciation from policymakers,” Alistair Hewitt, head of market intelligence at the World Gold Council, said. “Gold mining has come under tighter regulations.”

“環境越來越受到政策制定者的重視。”世界黃金協會市場情報部門負責人阿利斯泰爾?休伊特(Alistair Hewitt)說，“黃金開採受到更嚴格的監管。”

China produced an estimated 420.5 tonnes of gold last year, according to the World Gold Council. Over the same period, Chinese demand for gold rose by 4 per cent to 953.3 tonnes, it said.

根據世界黃金協會的數據，去年中國的黃金產量估計爲420.5噸。該組織表示，同期中國對黃金的需求上升了4%，至953.3噸。

Global gold production rose to 3,268.7 tonnes in 2017 from 3,263 tonnes a year earlier, according to the WGC. That was the smallest increase since 2008, when gold mined fell more than 2 per cent during the financial crisis.

2017年，全球黃金的產量從上一年的3263噸上升至3268.7噸。這是自2008年以來的最小漲幅。2008年金融危機期間，黃金開採量下降了逾2%。

The price of gold has risen 15 per cent since the beginning of 2017 to trade at $1,334.78 a troy ounce.

自2017年初，金價上漲了15%，交易價爲每盎司1334.78美元。

Almost all of China’s gold goes to meet domestic demand, since companies are not allowed to export gold.

中國幾乎所有的黃金都用於滿足國內需求，因爲中國不允許企業出口黃金。

As regulations tighten at home, China’s gold companies are increasingly looking to make overseas acquisitions. Last year Shandong Gold agreed to buy 50 per cent of Barrick Gold’s Veladero mine in Argentina for $960m.

隨着中國收緊法規，中國的黃金公司日益期盼進行海外收購。去年，山東黃金礦業股份有限公司(Shandong Gold Mining)同意以9.6億美元購買巴里克黃金公司(Barrick Gold)持有的阿根廷貝拉德羅(Valedero)金礦50%的股權。