Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
NumberSleuth produced a fantastic gold infographic illustrating all the major trends: how much above-ground gold (gold that has been mined) is there in all the world, and how much gold gets mined per year worldwide?
“More than half of all humanity’s gold has been extracted in the past 50 years. Now the world’s richest deposits are fast being depleted, and new discoveries are rare.
“Gone are the hundred-mile-long gold reefs in South Africa or cherry-size nuggets in California. Most of the gold left to mine exists as traces buried in remote and fragile corners of the globe.
“It’s an invitation to destruction. But there is no shortage of miners, big and small, who are willing to accept.”
Read more here or click the infographic.
From: Number Sleuth
6 Comments
Nick Moony
Excellent
stirling
Very interesting…
Kmagarwal
very well compiled. it is really gives lots of insight about gold all over the world.
Percy Zambrano
Really very useful summary to understand where we are. Thanks.
Adam Ruden
Why is PNG not colored red in the graphic? Simple errors like this make me question the validity of the rest of the numbers.
Hallywood
Gold is not consumed and the 32k MT held by Central Banks and ETF’s is known to be hypothecated and as a result the number is much lower. The 165,000 MT mined is history is an often quoted stat that first showed up in National Geographic in the ’80s and has no substantiation. Other than that, pretty pictures