2012-11-23 13:44:27 - Gold Mining - A Global Strategic Business Report - a new market research report on companiesandmarkets.com
Global gold production is projected to exceed 2.6 thousand metric tons by 2012. Gold production is being primarily driven by increasing gold prices, which are improving the economic viability of hitherto unviable resources, and technologies. Even though rising prices are exerting pressure on production and also encouraging investment, several factors such as strikes, technical issues, substantial lag time between discovery and commencement of production, and diminishing ore grades are hampering companies from increasing output.
Gold supply is a mix of mined gold, central bank supply, and scrap recovery. About two-thirds of global gold supply is met from mined gold. In 2009, mine production broke away from a trend of decreasing production that began in 2006. The year witnessed significant increase in
scrap supply, as people liquidated their gold assets to cash in on the high prices of gold, following the economic downturn, and the subsequent emergence of gold as a safe haven for investment. On the other hand, central banks emerged as net buyers of gold for most part of 2009. As such supply and demand was more or less balanced, leading to continued high prices of gold.
China dominates gold mine production worldwide as stated by the new market research report on gold mining. Gold is produced in almost all the continents, with the exception of Antarctica. However, operations and production volumes vary from region to region. China holds a leadership position in terms of the global gold production in terms of volume. The country overtook South Africa in 2007 to become the largest gold producing nation. Other regions with substantial gold production include Australia, the US, Peru, Russia, Canada, Indonesia, Uzbekistan, Papua New Guinea, Mexico, and Brazil.
Asia-Pacific represents the largest gold producing region in the world. Europe represents the fastest growing gold producing region, driven by growth in Russia, the largest gold producing country in the European region.
Jewelry represents the largest market for gold. Owing to significant decline in demand, following the economic crisis, jewelry share declined substantially in 2009. However, increase in investor demand resulted in higher demand for official coin fabrication, thereby assisting in offsetting some of these losses. However, following the turnaround in economic conditions, jewelry demand surged in the first quarter of 2010. Similarly, gold demand from investment, especially Exchange Traded Funds (ETFs) witnessed rapid increase in demand, following the economic crisis, as gold was perceived as a safe investment.
The report titled Gold Mining: A Global Strategic Business Report provides a comprehensive review of market trends, competitive scenario, technological overview, and recent industry activity. Discussion on gold demand by segment provides a holistic overview of the global gold industry. The study analyzes market data and analytics in terms of production volume for regions including The United States, Canada, Europe, Asia-Pacific, Latin America, South Africa, and Rest of World.
The global gold mining industry is highly fragmented with the leading five producers accounting for less than 30% of gold produced worldwide. Key players profiled in the report include AngloGold Ashanti Limited, Barrick Gold Corporation, CompaÃ±Ãa de Minas Buenaventura S.A.A., DRDGOLD Limited, Freeport McMoRan Copper & Gold Inc., Gabriel Resources Limited, Gold Fields Limited, Goldcorp Inc., Harmony Gold Mining Company Limited, Jinshan Gold Mines Inc., Kinross Gold Corporation, Newcrest Mining Limited, New Gold Inc., Newmont Mining Corporation, Polyus Gold, Randgold Resources Plc, Rio Tinto Group, Quadra FNX Mining Ltd.
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