Global gold production fell by 3.8 million ounces in 2020 as covid-related disruptions in South America more than offset gains in Russia and West Africa.
They said they expected authorities to realize the sliding scale they propose would be a more effective mechanism for the government to share in higher commodity prices than the windfall tax and strategic minerals scheme included in the new code.
Increasing disposable income in emerging economies and the adoption of greener technologies, are the two factors to drive most of the expected increased demand in copper during the next five years.