Tag - Production
Wednesday, May 3 2017
By GCRU Gold News on Wednesday, May 3 2017, 03:14
World's top gold producer and consumer China produced 101.197 mt (2.95 million oz) of gold in the first quarter of 2017, decreasing 9.3% from 111.563 mt achieved a year earlier, the China Gold Association said Friday in a statement.
Wednesday, April 26 2017
By GCRU Gold News on Wednesday, April 26 2017, 02:53
Have we indeed reached mined peak gold production? With future mines being on average much lower grade then mines currently in production, at the very least, considering it takes up to 20 years from discovery to production, it’s not hard to believe we are have reached peak mined gold for this mining cycle.
Tuesday, March 21 2017
By GCRU Gold News on Tuesday, March 21 2017, 22:24
But while most investors focus on the potential for increasing demand, few consider if supplies will be able to meet that demand. And if supplies can’t keep up with demand, that should lead to much higher gold prices.
And according to the Thomson Reuters report, there are “few new projects and expansions expected to begin producing this year, and those in the near-term pipeline are generally fairly modest in scale, hence our view that global mine supply is set to continue a multiyear downtrend in 2017.”
Friday, March 3 2017
By GCRU Gold News on Friday, March 3 2017, 07:38
China is way ahead in gold production -- 453 metric tons in 2016. And Russia isn't far behind second-place Australia with 288 metric tons.
Monday, February 27 2017
By GCRU Gold News on Monday, February 27 2017, 02:46
Australian gold output hit a 17-year high of 298 tonnes in 2016 as higher bullion prices drove mining companies to dig deeper, a sector survey released on Sunday showed.
Monday, September 5 2016
By GCRU Gold News on Monday, September 5 2016, 00:27
"The analysis of the current situation and the available data make it possible to suppose that the total amount of gold production in Russia will reach 400 tonnes, and increased gold reserves may allow to preserve the growth rates until 2050,"
Monday, February 29 2016
By GCRU Gold News on Monday, February 29 2016, 07:41
Gold output in Australia, the world’s second-biggest producer, reached the highest in 12 years in 2015 as rising prices see miners revive mothballed operations.
Full-year production was 285 metric tons last year, almost two tons more than in 2014 and the highest annual total since 2003, mining consultancy Surbiton Associates Ltd. said Sunday in an e-mailed statement.
Thursday, February 4 2016
By GCRU Gold News on Thursday, February 4 2016, 02:54
China, the world's top gold miner and consumer, produced 450.05 tonnes of the precious metal in 2015, down 0.4 percent from a year earlier, the country's gold industry body said on Wednesday.
Consumption rose 3.7 percent to 985.9 tonnes, driven by a recovery in jewellery manufacturing and consumption, the China Gold Association said.
Sunday, January 17 2016
By GCRU Gold News on Sunday, January 17 2016, 22:09
Gold output has peaked in this commodities cycle, according to mining industry leaders and analysts who say few big projects will reach the point of production amid falling prices.
The lack of new assets and declining output at existing mines is expected to curb gold supply, a glimmer of hope for surviving producers of the precious metal in an industry coming to terms with a rush of investment when prices were far higher.
Wednesday, October 7 2015
By GCRU Gold News on Wednesday, October 7 2015, 22:44
The cliff appears to be imminent. According to numerous professional estimates, gold output will top out in 2015 or 2016 and then go into decline for several years at least. Using consensus figures,
Goldcorp estimates that global production will drop six per cent in the next three years, and almost 18 per cent in the next nine years.
Tuesday, October 6 2015
By GCRU Gold News on Tuesday, October 6 2015, 12:50
Sudan said it expects to produce 80 tonnes of gold in 2015, its minister of minerals said on Tuesday, topping last year’s record-high production in the war-torn African nation.
Monday, August 31 2015
By GCRU Gold News on Monday, August 31 2015, 11:28
The world’s second largest gold mining nation, Australia, saw gold output rise in the June quarter according to a survey by Melbourne-based consultancy, Surbiton Associates. Gold production for the period totalled some 72 tonnes (2.31 million ounces), an increase of almost three tonnes or four per cent over the March 2015 quarter. With most Australian miners having June year-ends, Surbiton puts the fiscal year total (to end-June) at 285 tonnes.
Friday, August 14 2015
By GCRU Gold News on Friday, August 14 2015, 06:34
In the first six months of the year, gold production in China jumped eight percent year over year to 228.7 tons, further cementing China’s dominant position in the sector.
Friday, July 24 2015
By GCRU Gold News on Friday, July 24 2015, 11:03
Furthermore, most of the current projects in the gold mining pipeline were evaluated on the basis of prices above US$1,200/oz and the fall in prices to US$1,100/oz will result in a significant cut in future supply. We estimate that nearly 40% of project production capability is uneconomic at current prices.
With major gold miners struggling to replace reserves, production may begin to decline and higher prices will be required to justify the next round of large capital expenditures.
Sunday, June 28 2015
By GCRU Gold News on Sunday, June 28 2015, 23:24
This is a chart every gold investor needs to see. While the gold mining industry works harder every year to produce the highly sought-after monetary metal, its overall productivity continues to decline. Actually, decline is too soft of a word to describe what’s taking place in the world’s leading gold producers.
The top five companies diesel consumption per ounce of gold produced doubled from 12.7 gallons per oz (gal/oz) in 2005 to 25.8 gal/oz in 2013, while production declined from 25.2 million oz (Moz) to 22.9 Moz respectively. This has everything to do with decline of average gold yield from the group which fell from 1.7 grams per ton (g/t) in 2005 to less than 1.2 g/t in 2013.
Thursday, May 28 2015
By GCRU Gold News on Thursday, May 28 2015, 23:34
“It used to be we were the only country that could make money on gold and the rest of the world couldn’t,” says Major. “That has turned around. Gold production here could be zero by 2020. And that means that employment on the gold mines could be zero by 2020.”
Wednesday, April 8 2015
By GCRU Gold News on Wednesday, April 8 2015, 00:08
From Russia to South Africa to North America, the biggest producers saw profits turn to losses as prices plunged, forcing them to cut spending on mines in half over three years. While bullion output will probably reach a record in 2015, the increase will be the smallest in at least six years, before production drops 1 percent in 2016, according to Barclays Plc.
Monday, March 30 2015
By GCRU Gold News on Monday, March 30 2015, 09:36
Is gold about to "run out"? The correct answer to that question is the likelihood of that happening is precisely 0%
Friday, March 13 2015
By GCRU Gold News on Friday, March 13 2015, 05:30
Monthly gold production reached a new monthly low in January, according to data released by Stats SA1. Although a number of temporary factors might have contributed to the unusually low level, general historical trends show that gold has lost the prominent place it once had in the South African economy.
Tuesday, February 24 2015
By GCRU Gold News on Tuesday, February 24 2015, 00:23
A year ago, the Financial Post published a note stating that Barrick Gold Corp.’s production was set to drop significantly in 2014. It did just that, falling to 6.25 million ounces (from 7.4 million in 2013).