According to the journalist Cristian Gallegos, who remarked that gold has established itself as an essential element in the world economy due to its value and versatility. Currently, its price reaches $ 2,743 per ounce (2,631.18 euros), which would make it an attractive investment in times of financial uncertainty and geopolitical conflicts. In addition to its use in jewelry, this metal is fundamental in the technology industry and in financial markets such as a shelter.
Based on the latest report of the United States Geological Service (US Geological Survey)collected by the Mining Visuals portal, in 2023 the Golden Economic reserves at a global level added 59,000 metric tons (TM). Three countries concentrate most of these resources: Australia, Russia and South Africawhich positions them as key actors in the mining industry and the international supply of precious metal.
Gold reserves in Latin America: What country leads?
According to the portal ‘El Economista’, Brazil is the Latin American nation with greater gold reserves, accumulating 2,400 tons. However, it would face challenges such as illegal mining and environmental impact on the Amazon. Despite these problems, the country continues to bet on the exploration and production of metal, preserving its historical legacy in the mining industry.
For its part, Peru occupies second in the region with 2,300 tons of reserves. The country maintains a strong exploration activity, promoted by companies such as Barrick Gold and Newmont, which continue to expand their operations. An example of this is the Tres Marías project, located in Puno, where it seeks to increase attempts.
Australia leads the world ranking with a production of 12,000 tons. Photo: The economist
Greater gold producers in the world
Australia leads the world ranking with a production of 12,000 tons in 2023, which is equivalent to 20.34% of global reserves. This sector represents more than 50% of its exports and contributes 8% to Gross Domestic Product (GDP) of the country. Mines such as Boddington, Cadia and Tanami have been key in the growth of the Australian mining industry.
Secondly, it is Russiawhich produced 11,100 tons the same year. Despite the economic sanctions imposed after the invasion of Ukraine, the country has maintained its production thanks to strategic mines such as Olympiad in Siberia, which represents 20% of its national production, according to what is reported by the environment.
South Africa, although it has lost world leadership, remains the largest producer in Africa with 5,000 tons in 2023. Its mining tradition remains in force with farms such as East Rand, which reaches depths of 3,585 meters. However, the growing competition of other African nations represents a challenge for its atriferous industry.
USA It registered a production of 3,000 tons in 2023, highlighting states such as Nevada and Colorado. Only Nevada represented 80% of national production in 2021, promoting net exports to 9,000 million dollars. The country would seek to continue increasing its production to consolidate in the global market.
China, with a production similar to that of the United States, faces challenges due to strict environmental regulations. Although in the past it was the largest gold consumer, its mining industry is currently adapting to more rigorous ecological standards.
Finally, Indonesia produced 2,600 tons in 2023 and houses some of the world’s largest mines, such as Grasberg in Papua. The exploitation of gold in the country is an economic pillar, although environmental concerns represent a constant challenge for the sustainability of the industry.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
