It has been estimated that all the gold mined by the end of 2011 totalled 171,300 tonnes. At a price of US$1,500 per troy ounce, reached on 12 April 2013, one tonne of gold has a value of approximately US$48.2 million. The total value of all gold ever mined would exceed US$8.2 trillion at that valuation.
However, there are varying estimates of the total amount of gold mined to date, mainly because gold has been mined for thousands of years around the world. Another reason is that some countries are not particularly open about how much gold they are mining. In addition, it is difficult to account for gold output in illegal mining activities.
Gold Reserves - Wartime Relevance (Example from World War II)
... they moved off the gold standard and went to a fiat standard where they could devalue the currency faster because they had too much debt, but where is the gold going? It’s going to China, which I believe will be the next global reserve currency, it’ll eventually be Bitcoin.
Africa is home to 60 percent of global arable lands, 90 percent of all raw material reserves, 40 percent of gold reserves, 33 percent of diamond, 95 percent of world uranium deposits, and has the largest bauxite reserves in the world besides huge manganese, crude oil and iron ...
At US$1,600 oz gold, the La India open pit MineralReserve produces total revenues of US$888,000,000, the total operating costs of mining, process and G&A are US$480,000,000, leading to an operating profit of US$408,000,000 or a 46 per cent operating margin.
The new resource estimation is in addition to Séguéla’s current mineral reserves of 12.1 milllion tonnes averaging 2.80 g/t gold containing 1.09 million ounces ... The Séguéla gold project currently consists of the resource-defined, near-surface Antenna, Koula, Agouti, Boulder and Ancien orogenic lode-style deposits.
uncertainties involving interpretation of drilling results; environmental matters; the ability to obtain required permitting; equipment breakdown or disruptions; additional financing requirements; the completion of a definitive feasibility study for the Grassy MountainGold...
(TECT.TSX-V)(TETOF.OTCQB(T15B.FSE) (the "Company" or "Tectonic") today announced the completion of the Company's inaugural field program at the FlatGoldProject ("Flat"), an intrusion-hosted, bulk tonnage gold project located in the KuskokwimMineralBelt of southwestern Alaska, some 40 kilometres ("km") north of the Donlin Gold Project.
The country's foreign reserves were composed of 365.62 billion dollars of securities, 26.68 billion dollars of deposits, 14.65 billion dollars of special drawing rights, 4.79 billion dollars of gold ...
Ghana, a top cocoa and gold producer, has oil and gas reserves, but its debt payments are high, and its revenues are weak ...Last month, Akufo-Addo fired the government’s junior finance minister, CharlesAdu Boahen, over corruption allegations after he appeared in a documentary on illegal gold mining. ....
Korea's foreign reserves increased in November as the dollar-converted value of holdings rose thanks to the greenback's fall, central bank data showed Monday ...Foreign reserves consist of securities and deposits denominated in overseas currencies, International Monetary Fund reserve positions, special drawing rights and gold bullion.
KHARTOUM, Sudan (AP) — Sudan’s ruling generals and the main pro-democracy group on Monday signed a framework deal until elections but key dissenters have stayed out of the agreement ...The force amassed wealth through its gradual acquisition of Sudanese financial institutions and gold reserves in recent years ... All rights reserved ... .
The Governor of the Bank of Ghana, Dr ... This has led to high cost of borrowing and doing business in the country ... As the Guest of Honour, the Governor of the Central Bank, also said the banking sector lost some reserves as a result of some pressures on the local currency, hence the decision to introduce the domestic gold buying policy ... .
The brine reservoir at the second well, located 3.6 km from the first production test well, had a greater thickness between 343 and 598 metres of depth ...Second phase ... The company has ownership in multiple high-grade lithium reserves in Chile and Argentina, as well as gold, silver, and copper properties. Share .