Gold production worldwide

Discussion in 'Bullion Investing' started by bullionrating, Oct 27, 2011.

  1. bullionrating

    bullionrating New Member

    What is the total gold production worldwide monthly / annually ?
     
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  3. vest007

    vest007 New Member

    I think the annual mine production is around 2,500 tonnes / year. But ths figure can be slightly confusing, since it doesn't take in to account surplus gold supply from gold scrap and other sources.

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  4. bullionrating

    bullionrating New Member

    that really helped,
    i know one thing that out of total 2400-2500 tonnes, India imports 1000 tonnes of gold every year.
     
  5. vest007

    vest007 New Member

    Hmm... total supply must be significantly more than 2,500. I had noted down earlier that gold scrap is not included in those figures. So I think 3,500 tonnes a year will be a conservative estimate.

    India imported 958 tonnes of gold in 2010, so that will be about 28-30%.
     
  6. Kevin1

    Kevin1 New Member

    just curious what is the silver production worldwide?
     
  7. vest007

    vest007 New Member

    I think right now, it is around 22,000 tonnes a year.

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  8. itmtrader

    itmtrader New Member

    Global gold mine production increased by 3 percent over the third quarter of this year to approximately 659 tonnes, as a number of new operations either came online or increased production. Increased Australianproduction contributed to the majority of the output growth, although Mexico and Argentinaalso exhibited positive production on an annualized basis. Offsetting the impact of these developments was a decline in production in Indonesia, Russia and Peru. The decline in production in Indonesia should not be a point of concern for investors as its production totals in 2009 had increased almost 66 percent last year, the largest one year production increase of any country in the world. Last year the only other top 10 gold producing country in the world to demonstrate double digit growth in annual production was Ghana, with a 13 percent increase.
     
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