Join us for the Davos in the Desert’s 2024 Gold Mining Conference, a premier virtual event bringing together industry leaders, investors, and professionals from around the globe. This conference offers a unique platform to explore the latest trends, technologies, and developments in the gold mining industry. Whether you are an investor seeking investable ideas or a professional in the mining sector looking to stay ahead of technological advancements, this conference is for you.
The following are among the primary end uses/sources of demand for gold:
- Jewelry: Gold’s luster, malleability, and resistance to tarnish make it a popular choice for rings, necklaces, bracelets, and other adornments.
- Investment: Gold serves as a store of value and a hedge against inflation. Investors buy gold bars, coins, and exchange-traded funds to diversify their portfolios.
- Currency and Reserves: Central banks hold gold reserves as part of their foreign exchange reserves.
- Electronics: Gold’s excellent conductivity and resistance to corrosion make it essential in electronics, including circuit boards, GPS systems, calculators, connectors, and switches.
- Dentistry: Gold alloys are used for dental crowns, bridges, and fillings due to their biocompatibility and durability.
- Aerospace: Gold-coated films protect astronauts, satellites, and spacecraft from extreme temperatures and radiation.
- Medicine: Gold nanoparticles are used in diagnostics, drug delivery, and imaging.
- Art and Decoration: Gold leaf is applied to paintings, sculptures, architectural fixtures, and trimmings.
- Catalysis: Gold nanoparticles act as catalysts in chemical reactions, including automotive emissions control.
- Lubricants: Gold nanoparticles improve lubricant performance in machinery.
- Global demand for gold averaged 4,448 metric tons in 2023, with U.S. consumption at 250 metric tons.
- Approximately 3,000 metric tons of gold were produced from mines worldwide in 2023.
- Global central banks held nearly 37,000 metric tons of gold, about 17% of all gold mined throughout history.
- Notable transactions: Newmont Corporation acquired Newcrest Mining for $16.8 billion, and Pan American Silver Corp. acquired Yamana Gold for $4.8 billion.
The following are some new technologies designed to render gold mining more productive:
- Advanced Machinery: High-capacity haul trucks and hydraulic shovels/excavators transport massive amounts of ore and move the earth swiftly and accurately.
- State-of-the-Art Drills: Modern drills bore into the earth, revealing hidden deposits more effectively.
- Complex Processing Plants: These plants refine ore efficiently, minimizing waste and environmental impact.
- Digital Transformation: The industry utilizes automation, data analytics, and remote monitoring.
- Mineral Exploration Techniques: Innovative technologies include:
- Airborne Gravity Gradiometry (AGG)
- Airborne Electromagnetics (EM)
- Induced Polarization (IP)
- Hyperspectral Mapping
- Superconducting Quantum Interference Device (SQUID)-based Time-Domain Electromagnetic (TDEM)
- 3D Electric and Electromagnetic Surveys
- Portable Mineralogical and Geochemical Analyzers
- Unmanned Aerial Vehicles (UAVs)
- Automatic Spectroscopic Scanning of Drill Cores
- Neural Networks/Deep Learning for data processing and interpretation.
The following are some interesting facts about the Gold Mining industry:
- Major gold producers include China, Russia, Australia, South Africa, the United States, and Peru.
- Gold’s chemical symbol is “Au,” derived from the Latin word “aurum,” and its atomic number is 79.
- Gold is incredibly malleable and ductile; a single ounce can be stretched into a wire about 50 miles (80 kilometers) long.
- Pure gold is yellow, but it can appear in shades of red and green when alloyed with other metals.
- Gold is dense; a cubic foot weighs over half a ton (19,300 kilograms).
- Until the 20th century, many countries used the gold standard, where paper money was backed by physical gold reserves.
- Gold is found in asteroids and even in the Earth’s core; some estimates suggest that Earth’s core contains more gold than all the world’s mines combined.
- All the gold ever mined would fit into three Olympic-sized swimming pools.