Mon, Apr 19, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Ten gold-rich countries mined 1,950 tons of precious metal in 2020

Wednesday, February 24, 2021
Opalesque Industry Update - Data researched by Trading Platforms UK indicates that ten selected gold-rich countries cumulatively mined 1,950 tons of precious metal in 2020. In 2019, the countries mined a total of 2,012 tons.

For both years, China maintained its gold production at 380 tons to rank top. Australia ranks second after mining 320 tons of gold in 2020, while in 2019, the amount was at 325 tons.

Russian was the third-highest producer last year at 300 tons, dropping from 325 tons mined in 2019.

The United States emerged fourth with 190 tons mined in 2020, while in 2019, the country produced 200 tons. Canada capped the top five spots with 170 tons in 2020, while in 2019, the figure was at 175 tons.

Ghana mined 140 tons last year, a slight drop from 2019's 142 tons. Elsewhere, Indonesia mined 130 tons of gold in 2020, while the previous country produced 139 tons.

Peru ranks eighth, having mined 120 tons in 2020, and in 2019, the country produced 128 tons. Kazakhstan mined 100 tons last year, while in 2019, the amount was at 107 tons. Mexico ranks tenth with 100 tons of mined gold in 2020, while in 2019, the figure was at 111 tons.

The analysis delves into driving factors behind 2020 gold production. According to the report: "The year was also characterized by gold hitting a record high price in August. The new price level meant that profits for miners would also be high. Possibly, this might be a motivating factor that fuelled more mining activities during Q3 and Q4 as producers made efforts to reap. Although gold prices hit a record high, this doesn't automatically translate into a rise in gold mining activity. Furthermore, a new all-time high price increased the demand for the precious metal as consumers shifted to focus on long-term investments as a store of value."

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. New Launches: Atlas Holdings closes fourth PE fund at $3.1bn, Zigg Capital nabs $225m to invest in proptech startups, Canvas Ventures raises $350m to help bring intentionality back to early-stage investing, BlackRock and Fidelity launch first green bond ETFs[more]

    Atlas Holdings closes fourth PE fund at $3.1bn From PE Insights: Atlas Holdings has held the first and final close of its fourth private equity investment fund, Atlas Capital Resources IV LP (ACR IV) at its hard cap of $3.1 billion. The latest fundraising, which began in Novembe

  2. SPACs: UK stock market to lure SPACs with rules overhaul, Nuvation Bio flounders after EcoR1 SPAC merger, Singapore Exchange may launch regulatory framework for SPACs by mid-2021, SPAC listings slow to a crawl with bankers buried in paperwork[more]

    UK stock market to lure SPACs with rules overhaul From Yahoo Finance: Britain's financial watchdog has fired the starting gun on plans to overhaul stock market rules in a bid to lure more SPACs to the London market. The Financial Conduct Authority (FCA) on Wednesday said it woul

  3. New Launches: Amundi launches Just Transition for Climate fund, Index Ventures launches $200m seed fund, China's Hosen Capital hits $800m hard cap for third US dollar fundraise, Shackleton launches fifth venture secondaries fund[more]

    Amundi launches Just Transition for Climate fund From Bloomberg: Amundi has launched a European fixed income fund that will support energy transition. The Just Transition for Climate fund is managed by Alban de Fa?, head of fixed income ESG investing, and Dany da Fonseca, credit portfo

  4. SPACs: Investors see $90bn SPAC craze fizzling in the next year, US regulator turns spotlight on rosy SPAC projections, SPACs drive March M&A record, but other infotech players are still buying, Blank-check ETFs keep coming even as SPAC fever cools down[more]

    Investors see $90bn SPAC craze fizzling in the next year From PE News: Investors overseeing almost $13tn in assets say the frenzy around Spac listings will slow over the coming 12 months, predicting a spate of high profile failures will suppress appetite for so-called blank-cheque comp

  5. PE/VC: 'Frustrated' limited partners are questioning PE-sponsored SPACs, European venture reaches all-time high in the first quarter of 2021[more]

    'Frustrated' limited partners are questioning PE-sponsored SPACs From Institutional Investor: It's hard to imagine that private equity firms would have stayed out of the booming business of special-purpose acquisition companies. But private-equity-sponsored SPACs could lead to conflicts