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In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces. [2] Production figures are for primary mine production. In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production. [3]
The first major gold mine in Canada was opened in 1867 by Marcus Hubert Powell and it was named the Richardson Mine, located in Ontario. It was closed in 1869 after two years and only 100 ounces of gold could be extracted. Canada is now the 4th largest producer of gold in the world. [2]
This list of gold mines in Canada is subsidiary to the list of mines article and lists working, defunct and future mines in the country. For practical purposes, defunct and future mines are demarcated in italics and bold respectively. Asterisks (*) note mines which produce(d) gold as a secondary product..
As of 2020, the world's largest gold producer was China with 368.3 tonnes of gold mined in that year. The second-largest producer of gold was Russia where 331.1 tonnes was mined in the same year, followed by Australia with 327.8 tonnes. [37] In 2023, the annual gold demand of 4,448 tonnes was 5% below that of 2022.
Official U.S. gold reserve since 1900 Changes in Central Bank Gold Reserves by Country 1993–2014 Central 2005 and 2014. A gold reserve is the gold held by a national central bank, intended mainly as a guarantee to redeem promises to pay depositors, note holders (e.g. paper money), or trading peers, during the eras of the gold standard, and also as a store of value, or to support the value of ...
By contrast, depletion gilding is a subtractive process whereby material is removed to increase the purity of gold that is already present on an object's surface. In depletion gilding, other metals are etched away from the surface of an object composed of a gold alloy by the use of acids or salts, often in combination with heat.
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [ citation needed ] The principle is that the asset is a capital investment that is a wasting asset , and therefore depreciation can reasonably be offset (effectively as a capital loss ...
Yamana Gold Inc. is a Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina. Headquartered in Toronto , the company was founded in 1994 and became listed on the Toronto Stock Exchange in 1995, the New York Stock Exchange in 2007, and the London Stock Exchange in 2020.