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Gold remained as the top-explored commodity in 2015
September 22, 2016

A recent report from SNL Metals & Mining found that despite the year-on-year decline in the global exploration budget in 2015, gold’s US$3.94 billion allocation made it the top-explored commodity again in 2015, with 45 percent of the global total.

Evaluating capital financings by exchange shows that firms listed on the TSX Group accounted for 55 percent (US$544 million) of the total raised from July 1, 2016, through August, followed by firms listed on the ASX with 30 percent (US$291 million). The aggregate US$986.5 million raised was significantly higher than the US$324 million raised in the same period last year, SNL Metals & Mining said in its report “Chart Watch: Gold by the numbers.

Drilling activity in the Canada-U.S. region accounted for 39 percent of all significant gold results announced between July 1 and Sept. 8, with a further 29 percent hosted by the Asia-Pacific region.

The Africa and Canada-U.S. regions had the highest in situ values for reported reserves and resources at primary gold projects at Sept. 8, with values totaling US$1.48 trillion and US$1.26 trillion, respectively. For gold in non-gold primary projects, Asia-Pacific was the key contributor in terms of resource value, accounting for US$692 billion of the total non-gold primary in situ value.

Revenue, calculated by multiplying 2015 total gold production from primary gold mines with the 2015 average gold spot price, shows Asia-Pacific and Africa as the most valuable gold regions, with gold revenues of US$20.22 billion and US$16.12 billion, respectively.

With US$5.58 billion in investments, Latin America accounted for the largest amount of planned and completed capital spending on gold announced from the beginning of 2015 through June 30, 2016. Canada-U.S. was second with US$5.0 billion, including $1 billion allocated by Barrick Gold Corp. to develop the Goldrush project in Nevada.

The full report can be accessed here: http://www.snl.com/web/client?auth=inherit#news/article?id=37768761&cdid=A-37768761-10027

 

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