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Gold mining

DATE OF PUBLICATION: 2020-12-28 10:28:11 According to statistics, in 2020, the 20 largest gold mining companies lost ~ 5% of total gold production, primarily due to work interruptions associated with the imposed quarantine. Gold production is likely to recover in 2021. Based on medium-term projections, production will be about 6% more than revised projections for the post-quarantine period for 2020. This year, the global gold mining industry has faced unprecedented problems caused by production interruptions, which were the main factors behind the notable production drops recorded in several regions. North America, South America and Africa were the most impacted, with Canada producing 1,160,000 ounces of gold in the second quarter of 2020. This was significantly less (-22%) than 1,482 thousand ounces of gold mined in the second quarter of 2019. Québec gold production in Q2 2020 was down a record 32% compared to Q2 2019, while gold production in Ontario fell 17%, driven by both government-sanctioned and voluntary production suspensions.20 gold miners were planning to mine about 39,118 thousand ounces of gold in 2020 before the emergence of Covid-19. After the suspensions were lifted, many affected companies revised their production forecasts for 2020, and as a result, this number dropped to ~ 37 291 thousand. ounces of gold, on the other hand, many gold miners saw record growth in gold production in the third quarter of 2020 as they sought to replenish production lost during the suspension. As expected, gold miners with assets located in regions suspension of work. As of 2021, 2 The top 0 gold miners are planning to mine ~ 39,381 koz of gold, calculated as the sum of the averages of their respective mining forecasts, which is ~ 6% more than the revised forecast for 2020 after quarantine. Material provided by InstaForex – – InstaForex

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