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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: heinz446/26/2007 4:42:20 PM
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Gold!! what me worry
South Africa is the world’s largest producer of gold. But its mines have been in steady decline since 2001, and its global mining production market share has dropped from 50% to 11-12%. Some analysts see this decline as one of the main reasons why gold prices have climbed so drastically over these past few years.

And now, South Africa is experiencing some intense strikes that are trying to force the president’s hand to raise wages. Most analysts expect these strikes to filter down into the mining industry, perhaps in August.

Emerging gold-producing countries have snapped up some of the excess market share left behind by South Africa’s waning production. In fact, their market share has increased from 17.7% to 29.8% over the past decade… in places like Latin America, and specifically Peru.

Peru’s gold production has risen from 18 tonnes in 1992 to 207 tonnes (7,301,710 ounces) in 2005. Much of that production comes from Yanacocha, the world’s second-largest mine.

Peru accounts for 8% of the world’s production. Other Latin American countries combined account for about 10%. So, in total, Latin America accounts for 18% of world production and 65.5% of the emerging gold-producing countries’ production.

That 18% share is well above South Africa’s 11-12%. S.R. Nunnally
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