The world's proven reserves of gold are about 100,000 tons. Gold prices have risen nearly 15% in the last three months.
As a kind of metal with dual properties of currency and commodity, gold is an important part of foreign exchange reserves of various countries. Since the beginning of March, the international price of gold has risen from $1,676 an ounce to $1,912.77 on June 1, closing at $1,904.84.It has fallen below $1,900 a Troy ounce in the past two days, but remains high. In just three months, gold price rose nearly 15%.What changes have taken place in the whole gold industry chain in the face of the rising market?
Zhang Yongtao, Vice Chairman and Secretary General of the China Gold Association, said the rise in gold prices has provided a historical opportunity for the development of the domestic gold industry. The epidemic spread to the whole world, and the sudden changes in the international political and economic situation greatly enhanced the status and role of gold, providing strong support for the stability and rise of the international gold price. Gold prices goes higher and higher in continuous fluctuations, the gold market is active. At present, the international gold price remains high, which provides a historical opportunity for the development of the gold industry.
Data show that the global development of gold enterprises identified these resources development reserves of about 100,000 tons, including a basic knowledge reserves of about 50,000 tons. Among the 100 thousand tons of increased golden time technical resource information reserves, the main contents are distributed in more than a dozen different countries, such as South Africa, China, Russia, Australia, Indonesia, and the United States.
According to data released by the Ministry of Natural Resources, in 2019, China's gold reserves were 14,131.06 tons, accounting for about 14.13 percent of the global total. However, China's geological exploration level of gold mineral resources is relatively low, and its basic reserves are 2,298.36 tons, making it the ninth largest gold reserves in the world. Since 2016, the number of global gold drilling projects has gradually increased, and started to decline in 2019.In 2020, 1,990 gold drilling projects were implemented globally, up 23% from 1,546 in 2019.
On a monthly basis, the number of global gold drilling projects in 2020 rose gradually after falling in March, rising to 197 in December, up 112% from the March low of 93.Gold drilling projects are concentrated in Australia, Canada and the United States. In 2020, Australia, Canada and the United States will implement 659, 539 and 172 drilling projects respectively. Together, the three countries account for 72% of the world's gold drilling projects. From 2016 to 2018, the amount of newly discovered gold resources in the world showed a trend of gradual increase, reaching 1,682.7 tons in 2018, and showing a sharp decline in 2019.In 2020, the amount of newly discovered gold resources in the world increased significantly, increasing by 27% compared with 2019, reaching 1,090 tons. The total amount of newly discovered gold resources in 2020 is in the shape of "A", and the amount of newly discovered gold resources in June and July is the lowest and highest in the year, respectively, being 4.9 tons and 410.6 tons.
"Although the funds for geological exploration of gold deposits have decreased significantly in recent years, the proven reserves of gold deposits have increased steadily year by year." The main problems and challenges China faces for the economic development of gold mining industry are manifested in three aspects: First, the investment in the management of gold exploration funds has dropped sharply, leading to the "crisis of shortage of gold resources". Second, gold production and management enterprises need to make concerted efforts to adjust to the new normal. For example, cyanide residue has been listed in the List of Related Hazardous Wastes of the State, which puts forward a higher requirement for the production of gold mines. Third, gold science and technology information can't be meet the needs of different industries in the development of market. "science and technology innovation, including free and low cyanide environmental agents gold technicians (high cost, poor universality), the difficulties of deep ore body mining engineering technology has been difficult to break through the (such as high cost, difficult).