‘Informal’ Gold Mining ‘Now 15%’ of World Output (Bullion Vault – April 5, 2019)

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Artisanal + small-scale mines adds 700 tonnes to decade total…

GOLD MINING output worldwide is running more than 4% higher than previously estimated according to leading analysts, thanks to a boom in so-called “informal” projects across developing economies.

With total world gold mine output recording a 10th consecutive year of growth in 2018, and its 9th new all-time high, specialists analysts Metals Focus this week announced a “fairly substantial revision” to their estimates for artisanal and small-scale mining (ASM).

These often illegal and highly dangerous projects produced around 550 tonnes of gold in 2018 according to Metals Focus’ new figures, some 15% of total global output.

Together with other revisions, the extra ASM output adds more than 730 tonnes to Metals Focus’ prior 2010-2018 figures, nearly 2.7% more than last year’s estimate for the decade so far.

The size of Metals Focus’ revisions grows across its annual data series, rising from 33 additional tonnes in both 2010 and 2011 (then 1.2%) to more than 200 tonnes on 2018’s output (some 6.3%).

For the rest of this article: https://www.bullionvault.com/gold-news/gold-mining-040520193

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