Archive for September, 2016

Africa gold reserves said to be worth $1.5 TRILLION

Friday, September 23rd, 2016

endeavour-tabakoto-africa-gold image www.www-globalcommodities.com

A new report by SNL Metals and Mining shows Africa at the top of tables when it comes to the value of gold still in the ground.

Using the combined value of reserves and resources reported by explorers and mining companies active on the continent, the research company, calculated a figure of $1.48 trillion for primary gold projects.

Canada and the US came in second with gold in situ values as at September 8 of $1.26 trillion.

For gold in non-gold primary projects, Asia-Pacific was the key contributor in terms of resource value, accounting for $692 billion of the total according to SNL.

When it comes to the value of gold resources where it is mined as a secondary product alongside other metals, Africa falls down the rankings with less than $100 billion on the books.

in-situ-value-gold-africa-highest-SNL.gif www.www-globalcommodities.com

 

 

 

 

 

in-situ-value-gold-non-primary-asia-SNL www.www-globalcommodities.com

 

 

 

 

 

 

 

 

 

 

 

 

 

As for revenue, calculated by multiplying 2015 total gold production from primary gold mines with the 2015 average gold spot price, Asia-Pacific and Africa are once again the most as most valuable gold regions, with gold revenues of $20.2 billion and $16.1 billion, respectively.

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Henry Sapiecha

World’s largest, newest diamond mine to inject $5.2bn into Canada’s economy

Friday, September 9th, 2016

worlds-largest-newest-diamond-mine-to-inject-5-2-billion-into-canadas-economy-300x250 www.www-globalcommodities.com

Gahcho Kué, co-owned by De Beers Canada and Mountain Province Diamonds, is located at Kennady Lake, about 280 km northeast of Yellowknife. (Image courtesy of De Beers Group)

Gahcho Kué, the world’s largest new diamond mine due to begin production later this month, is expected to contribute $5.2 billion (Cdn$6.7 billion) to Canada’s economy and provide 1,200 new jobs, a report released Thursday by majority owner De Beers shows.

Gahcho Kué is expected to contribute $5.2 billion (Cdn$6.7 billion) to Canada’s economy and provide 1,200 new jobs.

Situated almost 300 kilometres east of Yellowknife, in Canada’s Northwest Territories, the mine — a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%) — has so far provided a $341 million (Cdn$440 million) boost to the NWT economy, the reports says. It has also contributed a further $272 million (Cdn$350 million) to the rest of Canada, according to the figures released by De Beers.

But what makes the mine especially important is the fact that two of Canada’s major diamond mines — Diavik and Ekati — are approaching the end of their productive lives, and —although it’s smaller— Gahcho Kué would be able to offset the production drop-off.

debeers-diamond-mines-map image www.www-globalcommodities.com

Courtesy of De Beers Group.

The report, which looks into the socio-economic impact of the Anglo American-owned diamond company in Canada, also highlights De Beer’s contribution to the country’s economy over the past 10 years:

  • More than Cdn$7 billion to Canada’s gross value added (GVA), with exports supported by DeBeers mining operations bringing Cdn$4 billion in foreign currency into the country’s economy. In 2015, they represented 28% of Canada’s export earnings from diamonds.
  • Cdn$55 million in support to First Nations through Impact Benefit Agreements (2006-2015).
  • An expected Cdn$24 million contribution to Alberta’s economy by the recent move of headquarters from Toronto to Calgary.
  • Cdn$750 million in exploration across Canada since 1961, supporting almost 100 jobs each year on average.
  • Responsible for the discovery of more than 170 kimberlites to date.

“In the 50 years we have been in Canada, we have seen how our business can be a catalyst for delivering both economic and social value, locally, regionally and across the country,” De Beers Canada’s chief executive Kim Truter said in a statement.

He noted that, only last year, De Beers’ activities contributed Cdn$1.2 billion ($930 million) to the Canadian economy.

www.www-gems.com

www.worldwidediamonds.info

www.gem-creations.com

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Henry Sapiecha

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