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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: craig crawford who wrote (111321)7/13/2001 4:18:40 PM
From: Arik T.G.  Read Replies (1) of 436258
 
Craig,
Some fact on Gold, to feed the debate:

Total known global production of gold in history = 125,000 tonnes.
Total global holdings of gold by central banks = 30,000 tonnes.
At current prices those 30,000 tonnes are worth $250 Billion .
Global gold production is 2,500 tonnes per annum and consumption is 3,300 tonnes. Disinvestment, lending and recycling of scrap gold bridges the gap.

Although South Africa still is the global leader in gold production, it also has the highest average production costs in the world. Coupled with labour problems, lowering grades as well as several mines reaching the end of their lives, it is not anticipated that South African production will increase in the future. In the '70 RSA produced over 1000 tonnes/year of the Global 1500 tonnes/year global production. South Africa’s gold production has been declining steadily, and in 2000 production was 423 tonnes (18% of global production)

ATG
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