"Is the world running out of gold."-DW, 19.3.19Quote:"There is...

"Is the world running out of gold."-DW, 19.3.19

Quote:

"There is simply no new major gold deposit left to be discovered. The largest and most profilic reserves have already been found, Matthew Miller, an analyst at CFRA Research told DW. Gold miners are struggling to grow reserves in line with their production."

"The rate of gold mine discoveries has declined over the past 3 DECADES, despite miners pumping more money into exploration, World Gold Council figures show."

"Among the new discoveries, there have been hardly any that the experts call world class deposits.. These are typically high grade with over 5moz of gold reserves that can be turned into profitable mines capable of producing over 250,000 ounces of gold."

"The average mine grade has fallen from over 10 grams in the early 1970*s to around 1.4 grams per ton today..."

"Its fair to say that all low hanging fruits have been plucked, Ing said. The miners will have to turn to countries such as ECUADOR and some other places in Latin America or Africa, because places like Canada have been well picked over."

"Analysts expect gold prices to rise in the longer TERM as gold mine SUPPLY struggles to expand....new frontiers such as seabed and asteroids."

"In future, most of the gold supply will come from RE-cycling and not mining, Miller said."

https://www.dw.com/en/is-the-world-running-out-of-gold/a-47974833 [Deutsche Welle, 19.3.19]