{"id":27451,"date":"2017-10-30T18:42:23","date_gmt":"2017-10-30T23:42:23","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27451"},"modified":"2017-10-30T18:42:23","modified_gmt":"2017-10-30T23:42:23","slug":"breaking-china-worlds-largest-gold-producer-mine-supply-plummets-10","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27451","title":{"rendered":"BREAKING: China \u2013 World\u2019s Largest Gold Producer Mine Supply Plummets 10%"},"content":{"rendered":"
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BREAKING: China \u2013 World\u2019s Largest Gold Producer Mine Supply Plummets 10%<\/a><\/h3>\n

The world\u2019s top gold producer saw its mine supply plummet by 10% in the first half of 2017.\u00a0 According to the GFMS World Gold Survey newest update, China\u2019s gold production in 1H 2017 fell the most in over a decade.\u00a0 The fall in Chinese gold production is quite significant as\u00a0the country will have to increase its imports to make up the shortfall\u00a0in\u00a0its mine supply<\/span><\/p>\n<\/header>\n

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The data in the GFMS 2017 Q3 Gold Survey Update & Outlook reported that Chinese gold mine supply declined 23 metric tons to 207 metric tons in the 1H 2017 versus the 230 metric tons during the same period last year:<\/p>\n

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The report stated the reason for the decline in Chinese gold production was due to the government\u2019s increased efforts to curb pollution as well as heightened\u00a0awareness of environmental protection.\u00a0 Furthermore, GFMS analysts forecast that Chinese gold production will continue to deteriorate\u00a0for the remainder of the year as production is scaled down<\/strong>.<\/p>\n

This is undoubtedly bad news for a country that is not only the world\u2019s largest gold producer but also because China consumes all of its domestic mine supply.\u00a0 To get an idea just how far China is ahead of the rest of the pack, take a look at the following chart:<\/p>\n

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Last year, Chinese gold mine supply of 454 metric tons (mt), was 56% higher than second-ranked Austraila at 291 mt<\/strong>.\u00a0 These eight top gold mining countries produced 56% of the total world\u2019s supply of 3,222 mt in 2016.\u00a0 Lastly, you will notice that South Africa came in last place at 150 mt.\u00a0 However, South Africa was the leading gold supplier in the world in 1970, when it produced a staggering 1,000 mt:<\/p>\n<\/div>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

BREAKING: China \u2013 World\u2019s Largest Gold Producer Mine Supply Plummets 10% The world\u2019s top gold producer saw its mine supply plummet by 10% in the first half of 2017.\u00a0 According to the GFMS World Gold Survey newest update, China\u2019s gold production in 1H 2017 fell the most in over a decade.\u00a0 The fall in Chinese […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[130,14606,16789,570,647,16788],"class_list":["post-27451","post","type-post","status-publish","format-standard","hentry","category-economics","tag-china","tag-gold-production","tag-gold-supply","tag-news","tag-precious-metals","tag-srsrocco-in-mining"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27451"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27451\/revisions"}],"predecessor-version":[{"id":27452,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27451\/revisions\/27452"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}