CHINA: Running Out of Gold Mine Supply?

The chart  from the article, “Chinese Gold Mining Exploding”, shows the steady as well as rapid increase of Chinese gold production.

As you can see from the graph, gold mine supply has increased at a much faster pace since 2008 when it was 288 mt compared to the forecasted 430 mt in 2013.  This is nearly a 50% increase during this time period (2008-2013) compared to the 44% increase from 2003-2008.

The Chinese are running through their gold mineable reserves faster than the rest of the world.  According to the USGS 2013 Gold Commodity Summary, the Chinese had 1,900 metric tons of gold reserves in 2012. The Chinese have approximately 5 years of gold mine reserves remaining if we figure 400 mt into 1,900 mt total reserve.  There hasn’t been an update on Chinese gold reserves on the USGS website for several years, but we can plainly see that Chinese present gold reserve life is much lower than other countries in the world.

Read More: srsroccoreport.com/china-running-out-of-gold-mine-supply/china-running-out-of-gold-mine-supply/