Professional Jeweler Archive: Gold Production Rises But Slowly

June 2000

Precious Metals & Bench/Data & Statistics


Gold Production Rises But Slowly

Annual increases of 1% contrast with 5% during the 1980s


The slow growth that marked worldwide gold production in the late 1990s is expected to continue into next year because of low prices and the unwillingness of producers to invest in upgrading old mines.

But continued growth of production in Latin America and Asia should keep supplies strong enough to meet demand. So for the short-term, commodity gold prices are expected to continue in the high $300-per-ounce range.

These countries estimated major increases or decreases in gold production between 1997 and 2001, courtesy of The Gold Institute, Washington, DC:

Production (in metric tons)
Countries
1997
2001
Change
Mexico
836
1,173
+40%
Mali
537
731
+36%
Philippines
1,045
1,409
+35%
Papua New Guinea
1,604
2,151
+34%
Peru
2,405
3,215
+34%
Indonesia
3,260
4,121
+26%
Ghana
1,791
2,035
+14%
Chile
1,701
1,929
+13%
China
5,041
5,650
+12%
Brazil
1,900
2,028
+7%
Kyrgyzstan
559
585
+5%
Zimbabwe
781
768
-2%
Uzbekistan
2,627
2,535
-4%
Australia
10,021
9,613
-4%
Canada
5,434
4,983
-8%
United States
11,414
10,407
-9%
Other Countries
28,492
30,123
+6%
Total
79,448
83,456
+5%

Copyright © 2001 by Bond Communications