Top 10 Gold Producing Countries and Prospects for 2012 Output

April 9, 2012
| Economics
| Africa, Asia and the Pacific, Russia and Central Asia, The Americas

Although the price of gold has fallen recently due to an improved global economic outlook at the start of the year, many analysts believe this trend probably is temporary as concerns about the global economy and supply side pressures probably will drive up prices later this year. In this analysis, LIGNET takes a closer look at the top ten gold producing countries and the role they may play in this rapidly changing market.
Since 2005, gold production worldwide has steadily risen from 2,470 metric tons to 2,700 metric tons, according to the U.S. Geological Survey. Many analysts expect this trend will continue in 2012. However, production and labor costs are causing worries in the mining industry and could threaten to slow production. Soaring gas prices have stunted profits for many of the world’s largest mining companies like Barrick Gold (ABX.TO) and Newmont Mining (NEM.T), who have been forced to put a hold on some new projects and struggle to find affordable, skilled labor.

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