Tag - Production
Tuesday, May 5 2020
By GCRU Gold News on Tuesday, May 5 2020, 04:10
Two of the world’s biggest gold refiners, Valcambi and Argor-Heraeus, are restoring almost all operations after Switzerland relaxed coronavirus lockdown measures, they said on Monday.
The decisions end six weeks of partial or full closure that disrupted global gold supply and helped to drive prices in New York and London further apart than they have been in decades.
Saturday, April 18 2020
By GCRU Gold News on Saturday, April 18 2020, 04:24
This latest production shutdown by the US Mint also comes on the back of other recent production shutdowns and production scale-backs that have affected everything from the Royal Canadian Mint in Ottawa, to the world’s largest gold refineries in Switzerland, and to South Africa’s Rand Refinery, restricting further the already constrained bullion supply chain globally. While some of the Swiss refineries such as PAMP and Argor-Heraeus have restarted production, this is to a limited extent, and the physical bullion supply chain still remaining challenging.
As a reminder, all of this is happening in an environment of continued enormous demand for gold bullion coins and other physical precious metals, which has led to strong premiums on precious metals bars and coins above the spot prices that the London and New York bullion banks are generating through their relentless synthetic and derivative paper gold churning.
Thursday, April 16 2020
By GCRU Gold News on Thursday, April 16 2020, 01:34
The clamor for retail investors to get hold of precious-metals coins is about to get more urgent.
Sunday, April 5 2020
By GCRU Gold News on Sunday, April 5 2020, 23:30
Three of the world’s biggest gold refineries said they will partially reopen after a two week closure that disrupted global supply of the metal.
Tuesday, March 31 2020
By GCRU Gold News on Tuesday, March 31 2020, 02:22
Not only is no bullion being produced, but Authorized Purchasers are not able to get their “allocation” of West Point gold & silver bullion.
Monday, March 23 2020
By GCRU Gold News on Monday, March 23 2020, 23:04
Three of the world’s largest gold refineries said on Monday they had suspended production in Switzerland for at least a week after local authorities ordered the closure of non-essential industry to curtail the spread of the coronavirus.
Monday, February 10 2020
By GCRU Gold News on Monday, February 10 2020, 21:46
For the third year in a row, the Turkish Mint has produced more gold coins than the U.S. Mint.
Friday, January 31 2020
By GCRU Gold News on Friday, January 31 2020, 00:09
After flat-lining over the last several years, gold mine output fell by 1% in 2019. This is further evidence that we could be heading into a long-term and perhaps irreversible decline in gold mine production.
According to the World Gold Council, total gold mine output in 2019 came in at 3,463.7 tons.
Monday, February 12 2018
By GCRU Gold News on Monday, February 12 2018, 22:07
Global gold mine production rose fractionally to 3,268.7 ton in last year, the highest annual total in the series of World Gold Council.
Monday, August 21 2017
By GCRU Gold News on Monday, August 21 2017, 00:33
Gold production has fallen 2 percent in the first five months of 2017 from the same period a year ago, Hynes added, citing data from the World Bureau of Metal Statistics. Production in the month of May alone was down 3.1 percent from a year ago.
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.