Gold is getting scarcer
The U.S. Geological Survey has estimated in its recently published annual report that, according to current knowledge, only about 50,000 tons of gold are still mineable. The annual report lists the largest gold producing countries and how much they have produced. The remaining gold resources are also estimated.
According to the new figures China is still the largest gold producer, however in 2019 China is likely to have produced around 19 tonnes less gold than in the previous year. Indonesia has produced more gold in 2019 than in 2018, and the world's largest gold mine, the Grasberg Mine, also exists there. A further significant drop (27 tonnes of gold less) in gold production was recorded by South Africa, once number one among the producing countries. The gold reserves still lying dormant in the earth were revised in South Africa from 6,000 to 3,200 tonnes.
According to the calculations of the U.S. Geological Survey, with an average annual production of 3,300 tons of gold, global gold resources would only last for about 15 years. However, the situation is not too dramatic, as resource estimates could go up again. Also, if the price of gold is high, the precious metal could also be taken from areas that are not so easily accessible.
Whether soon to be scarce or not, gold is a valuable and coveted commodity, among investors, jewellery lovers and central banks. Companies that can satisfy the hunger for gold include Bluestone Resources and RNC Minerals.
Bluestone Resources, well financed and supported by the Lundin Group, is developing its Cerro Blanco gold project in Guatemala. All the conditions are in place to move this world-class project forward rapidly.
RNC Minerals has two gold projects in Western Australia that are already producing. An inexpensive treatment plant is nearby. A nickel-cobalt project in Quebec is still in RNC Minerals' portfolio.
Recent corporate news and press releases from Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/) and RNC Minerals (https://www.resource-capital.ch/en/companies/rnc-minerals-corp/).
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