GOLD—2000 34.1 

GOLD

By Earle B. Amey

Domestic survey data and tables were prepared by Mahbood Mahdavi, statistical assistant, and the world production table 

was prepared by Ronald L. Hatch, lead international data coordinator. 

 Domestic gold mine production in 2000 was midway between 

the alltime high record reached in 1998 and what was produced 

in 1999. Primarily, the 3.5% improvement over the 1999 level 

was the result of more stable gold prices and the weakening of 

the United States dollar. The United States has been the second 

largest gold producer (behind South Africa) since 1991, when 

U.S. production surpassed that of the Soviet Union for the first 

time in five decades. Nevada produced more than three-fourths 

of domestic production; the remaining output came from 10

other States. Gold was produced at 64 lode mines; about a 

dozen large placer mines, all in Alaska; and numerous small 

placer mines, mostly in Alaska and the Western States. In 

addition, a small amount of domestic gold was produced as a 

byproduct of processing base metals, principally copper. Thirty 

mines yielded almost 97% of the gold produced in the United 

States. The value of U.S. gold mine production was about $3.2 

billion in 2000. 

 Domestic gold exploration activity dropped on a total dollar 

basis for the third consecutive year, declining from $194.5 

million in 1999 to $183.4 million in 2000. The percentage of 

the total world gold exploration budget going to the United 

States, however, increased by 16.8% in 2000 for the third time 

because U.S. companies spent proportionately more on gold as 

worldwide gold exploration expenditures dropped by 7% from 

1999, by 24% from 1998, and by 29% from 1997 (diGesu and 

others, 2000b). 

 Commercial-grade refined gold came from about two dozen 

domestic producers. Of several thousand companies and 

artisans, a few dozen companies dominated the fabrication of 

gold into commercial products. U.S. jewelry manufacturing was 

heavily concentrated in the New York, NY, and the Providence, 

RI, areas, with other concentrations in California, Florida, and 

Texas. In 2000, estimated end uses of gold were jewelry and 

arts, 89%; dental, 7%; and electrical and electronics, 4%. 

According to the World Gold Council (2001, p. 2), 2000 was the 

10th consecutive year of unit sales increases for gold jewelry in 

the United States. Total U.S. gold jewelry sales exceeded $15 

billion, up by 4% from sales in 1999. 

 Trade in refined bullion comprised 82.5% of U.S. gold 

imports and 80% of exports; net exports of bullion rose to 

256,000 kilograms (kg), up by more than 7% from that of 1999. 

As shown in tables 4 and 6, Canada provided about 60% of the 

bullion imported, and Switzerland was the destination for more 

than 60% of the bullion exported. 

 The dollar price for gold was volatile in 2000, but prices by 

yearend were only slightly lower than gold prices at the 

beginning of the year. Engelhard Corp.’s daily price of gold 

ranged from a low of nearly $265 per troy ounce1

 on October 27 

to a high of about $314 on February 7. The average for the year 

was, to the nearest dollar, $280. The previous year’s prices 

ranged from about $254 to $327 and averaged $280. 

 By the third quarter, 12-month London gold lease rates 

 

Gold in the 20th Century 

In 1900, the United States led the world in gold production 

with an output of 119 kilograms of gold, accounting for about 

31% of total world production, followed by Australia, Canada, 

and Russia. A hundred years ago, no gold was produced in 

South Africa, which is the largest producer of gold today. 

Colorado was the largest gold-producing State in the United 

States, providing about 36% of total U.S. gold output. 

Nevada, which is the leading domestic gold-producing State 

today, produced only 3% of the total U.S. output in 1900, but 

would benefit greatly from cyanide-heap leach technology to 

extract gold from its low-grade gold ores in the late 1960s. 

The major uses of gold in the early 1900s were for jewelry and 

monetary investments. At the opening of the 20th century, the 

official price of gold was $20.67 per troy ounce and Congress 

passed the Gold Standard Act of 1900, which confirmed the 

gold dollar as the standard unit of monetary value, with the 

value of $1 set at 25.8 grains of 900 fine gold. During the First

and Second World Wars, the international gold standard was 

suspended by the combatant but restored following cessation 

of hostilities. During the Great Depression, exports of gold 

except under Government license were prohibited, and all 

gold and gold certificates were recalled from general 

circulation. In 1934, silver was brought back as a standard 

unit of monetary value, and the gold content of the gold 

dollar was reduced to 13.7 grains of 900 fine gold. 

 In 2000, the United States was the second largest goldproducing country with an output of about 353 kilograms of 

gold accounting for about 14% of the total world output. 

South Africa ranked first and Australia, China, and Canada 

ranked third, fourth, and fifth respectively, in global gold 

output. Nevada produced three-fourths of U.S. gold, while 

Colorado produced less than 3% of the total domestic output.

Over 85% of today’s domestic gold is used for jewelry and 

arts with most of the remainder used as low-resistance 

electrical conductors. The price of gold in 2000 averaged 

$280 per troy ounce, which is about 14 times greater than the

price of gold in 1900. 

1

Elsewhere in this report, ounce by itself refers to troy ounce; 1 kilogram is 

equivalent to 32.1507 troy ounces. 
34.2 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2000 

dropped from about 1.6% in January to 1.2% in October and 

remained the same through December. Short-term lease rates 

decreased from historic lows of 0.5% in January to less than 

0.3% in August before rising to 0.7% in December (CRU 

International Ltd., 2001). 

 Total world mine production of gold was about the same as 

the record level reached in 1999. Despite a sixth successive 

decline in annual output, South Africa remained the largest 

producer of more than 80 gold-mining nations, followed by the 

United States, Australia, China, and Canada. Identified world 

gold resources at yearend 1999 were estimated to be 100 million 

kilograms (Mkg), of which 15% to 20% were byproduct 

resources; the world reserve base was estimated to be 73 Mkg, 

and reserves, 48 Mkg (R.P. Ashley, U.S. Geological Survey, 

oral commun., 2000). [This report uses the resource and reserve 

terminology of the U.S. Geological Survey (USGS), which is 

republished annually in USGS Mineral Commodity Summaries 

(U.S. Bureau of Mines and U.S. Geological Survey, 1980).] 

South Africa had about 50% of the resources, 50% of the 

reserve base, and 38% of the reserves. The United States had 

about 9% of world resources, 8% of the reserve base, and 12% 

of the reserves. 

 About 15% of all gold mined is estimated to have been used 

in dissipative industrial uses, or is either unaccounted for or 

unrecoverable (Thomas and Boyle, 1986, p. 6). Therefore, of an 

estimated 140 Mkg of gold mined in historical times through 

2000, 119 Mkg of gold remain, with about 33 Mkg held by 

central banks as official stocks and about 78 Mkg held privately 

as bullion, coin, and jewelry. 

 The USGS has issued a report on undiscovered gold, silver, 

copper, lead, and zinc deposits in the United States (U.S. 

Geological Survey, 2000). In the report, the amount of gold in 

undiscovered U.S. mineral deposits is estimated to range 

between greater than 13 Mkg (90% probability) and greater than 

22 Mkg (10% probability). The mean value of gold in the 

undiscovered deposits is 18 Mkg with nearly one-quarter of the 

gold estimated to be contained in undiscovered porphyry copper 

deposits. Other major gold deposit types considered in the 

report were hot spring gold, epithermal vein, plutonic porphyry 

gold, sediment-hosted gold, Au-Ag-Te veins, and low-sulfide 

gold-quartz vein deposits. Total discovered gold resources in 

the United States were estimated to be 27 Mkg; identified U.S. 

gold resources were estimated to be 15 Mkg and all U.S. gold 

production was 12 Mkg. 

Production 

 Domestic mine production data for gold were derived by the 

USGS from two separate voluntary surveys of U.S. 

operations—one for monthly production of copper, gold, lead, 

silver, and zinc from lode mines and the other for the same types 

of data from companies that responded annually. 

 Of the 77 lode gold producers in operation to which a survey 

request was sent, 75 responded. Thirteen of the 75 responses 

reported that their mines were closed and another 6 remained on 

care-and-maintenance status by the end of 2000. The individual 

company production and performance data in table 3 and cited 

elsewhere in this report were obtained from published sources, 

such as company annual reports. 

 Of the total domestic gold produced during 2000, about 93% 

was extracted from gold ore, and the remaining 7% was derived 

from other precious-metal ores, base-metal ores, and placer 

deposits. By comparison, similar data assembled for 1980 

indicated a 63% to 37% ratio. In both years, the contribution 

from placer mines amounted to less than 2% of the total gold 

produced. 

Alaska.—The State’s Division of Geology and Geophysical 

Surveys reported that gold output decreased to 15,600 kg 

(501,000 ounces) worth $140 million in 2000 from an estimated 

16,100 kg (518,000 ounces) worth $144 million in 1999, or an 

approximate decrease in production of 3% and a decrease in 

associated value of about 3% (Szumigala and Swainbank, 

2001). Placer production dropped to 1,300 kg (41,000 ounces) 

from 1,700 kg (56,000 ounces) of gold. 

 The underground Fort Knox gold mine near Fairbanks began 

to produce gold in 1997. Kinross Gold Corp. reported that the 

mine produced about 11,300 kg (363,000 ounces) of gold in 

2000, making it the country’s ninth largest gold producer 

(Kinross Gold Corp., 2001, p. 24). 

 The Greens Creek Mine on Admiralty Island, off Juneau, 

completed its fourth year at full production levels. Ore from the 

underground trackless mine was milled at the mine site. The 

mill produced gold and silver doré, lead, zinc, and bulk 

concentrates. Hecla Mining Co. reported (2001, p. 7) that the 

mine produced 2,600 kg (83,700 ounces) of gold. Greens Creek 

was a joint venture between Kennecott Greens Creek Mining 

Co. (70.3%) and Hecla Mining (29.7%). 

 USMX Inc.’s Illinois Creek gold mine in west-central Alaska 

was placed on care and maintenance, but continued to produce 

gold as the existing heaps were rinsed (Szumigala and 

Swainbank, 2001). 

 Continued drilling at the Pogo joint venture between Teck 

Corp. and Sumitomo Metal Mining America Inc. defined new 

gold ore zones in the eastern interior region (Wilburn, 2001, p. 

49). 

California.—Gold production in California remained about 

the same as that of 1999, as shown in table 2. California’s 

largest gold mine, Newmont Gold Co.’s Mesquite Mine, near 

Brawley, yielded more than 4,100 kg (130,000 ounces) of gold 

from oxide and sulfide ores that were mined by open pit 

methods (Newmont Gold Co., 2001, p. 53). 

 In eastern Imperial County, Glamis Gold Ltd. continued to 

produce gold by using heap-leaching methods at its Picacho 

Mine and continued exploration at its nearby Imperial project. 

Picacho produced about 45 kg (1,400 ounces). In 1997, after 16 

years of gold production, reserves were exhausted, and mining 

ceased. Gold recovery from the last ore heap was expected to 

take another year, after which reclamation will begin. Glamis 

Gold, through its wholly owned Glamis Rand Mining Co., also 

produced 3,100 kg (100,000 ounces) of gold at its Rand Mine 

near Randsburg. Almost all mining at the Rand Mine was 

carried out at the Yellow Aster Pit (Glamis Gold Ltd., 2001, p. 

2). 

 Near the Nevada-California State line, in San Bernardino 

County, the Castle Mountain Mine produced an estimated 3,700 

kg (119,000 ounces) of gold (Viceroy Resource Corp., 2001, p. 

2). Castle Mountain was a joint venture between Viceroy 

Resource Corp. (75%) and MK Gold Co. (25%). 

Colorado.—Gold production in the State was 7% higher with 

a significant increase in production from the Nation’s 11th 

largest gold mine, the Cresson Mine, in the Cripple Creek 

District of Teller County. AngloGold Ltd. reported (2001, p. 
GOLD—2000 34.3 

20) that this open pit mining operation produced 7,700 kg 

(248,000 ounces) of gold in 2000. 

Idaho.—Meridian Gold Inc.’s closure of its Beartrack Mine 

near Salmon leaves Idaho with no active gold mines. Beartrack 

produced more than 2,250 kg (73,000 ounces) of gold in 2000 

about 45% less than in 1999. Leaching of crushed ore is 

expected to continue to produce gold over the next several years 

on a declining basis (Meridian Gold Inc., 2001). 

Montana.—Exploration for gold was continued at an 

extremely low level, funded by a few venture capital dollars. No 

major mining companies were known to be involved. Low gold 

prices during the year and market limitations targeted interest 

toward gold with investment potential, such as free-milling gold 

and gold placers (McCulloch, 2001, p. 82). 

 Placer Dome Inc.’s wholly owned Golden Sunlight Mine near 

Whitehall was Montana’s largest gold-producing mine with 

6,600 kg (212,300 ounces) of gold in 2000, about 47% more 

than in 1999 (Placer Dome Inc., 2001, p. 10). 

Nevada.—Nevada maintained its longstanding position as the 

Nation’s dominant gold-producing State. Of the Nation’s top 30 

gold-producing mines, 15 were in the Silver State. Primary gold 

production increased to 268,000 kg (8.6 million ounces). 

 Newmont Gold, the largest gold mining company in North 

America, produced 94,000 kg (3.0 million ounces) of gold from 

9 open pit operations, 4 underground mines, and 17 processing 

facilities in Elko, Eureka, Humboldt, and Pershing Counties. 

Newmont Gold marked 35 years of production on the Carlin 

Trend, which it discovered in the mid-1960s. Mining of the 

high-grade Deep Post pit deposit concluded at the end of 2000, 

while gold production from stockpiles will continue into early 

2001. With reserves of 93,000 kg (3.0 million ounces) of gold, 

Deep Post consists of both a surface zone, currently being mined 

within the Betze-Post Pit, and a deeper zone, which was nearly 

completed as an underground mine, with gold production 

beginning the first quarter of 2001. Barrick Gold Corp. 

completed an asset swap with Newmont in May 1999 that 

provided access to the Deep Post underground deposit zone 

through a decline at the bottom of the Betze-Post Pit. The asset 

swap also provided the opportunity to begin a mile-long 

exploration drift from the Deep Star Mine to the Deep Post 

Deposit, called the Gold Margin Corridor. Carlin operation’s 

largest open pit mine, Gold Quarry, was mined out in the spring 

of 2000. In August 2000, mining also ended at the Rosebud 

underground mine. Exploration drilling near existing gold 

mines have located an additional 75,000 kg (2.4 million ounces) 

of gold reserves (Newmont Gold Co., 2001, p. 7). 

 Barrick Gold Corp. was the Nation’s second largest gold 

mining company in 2000 and reportedly recovered 51,200 kg 

(1.6 million ounces) of gold at its Betze-Post Mine/Goldstrike in 

Eureka County. In nearby Elko County, Barrick continued the 

development of its Meikle Mine/Goldstrike, an underground 

operation that produced 25,100 kg (806,000 ounces) of gold; it 

was the Nation’s largest underground gold mine. The mine had 

an underground cooling system to keep temperatures around 

80 F even though the temperature of the surrounding rock can 

be 140 F (Gold News, 1998). These Barrick operations on the 

Carlin Trend were developed within a 2,800-hectare 

landholding known as the Goldstrike Property (Barrick Gold 

Corp., 2001, p. 5). 

 Northwest of Elko, AngloGold Ltd. and Meridian Gold Inc. 

produced about 10,700 kg (344,000 ounces) of gold at their 

Jerritt Canyon Mine, the Nation’s 10th largest gold mine 

(AngloGold Ltd., 2001, p. 20). Other gold mines in Humboldt 

County included the Hycroft (formerly the Crowfoot/Lewis) and 

the Marigold Mines. 

 South of and parallel to the Carlin Trend, the Battle 

Mountain/Eureka Trend runs from southeastern Humboldt 

County southeast through Lander and Eureka Counties. Gold 

mining operations along this trend in Lander County include the 

Battle Mountain Complex, which was placed on care and 

maintenance on January 1, 2000 (Battle Mountain Gold Co., 

2000, p. 7); the McCoy/Cove gold and silver mine, which 

produced 5,100 kg (163,000 ounces) (Echo Bay Mines Ltd., 

2001, p. 9); and the country’s fourth largest gold mine, the 

Cortez Mine, owned by Placer Dome (60%) and Kennecott 

Minerals Co. (40%), which produced 31,400 kg (1.0 million 

ounces) (Placer Dome Inc., 2001, p. 9). 

 At Round Mountain, about 95 kilometers (km) north of 

Tonopah, the Round Mountain Gold Corp. mine of Echo Bay 

Mines Ltd. produced about 19,800 kg (638,000 ounces) of gold 

during the year (Echo Bay Mines Ltd., 2001, p. 9). The 

property is the sixth largest U.S. gold mine. 

 Battle Mountain Gold Co. continued its exploration project by 

extending the Phoenix Zone at the Battle Mountain Complex, 

thereby adding about 31,000 kg (1 million ounces) of gold to its 

reserve base. In addition, Dynatec Corp. continued to develop 

the Rossi-Storm Deposit at the Ken Snyder Mine, which poured 

its first gold on December 9, 1998. Ken Snyder’s second full 

year of commercial production was 5,300 kg (171,000 ounces) 

of gold making it the country’s 13th largest gold mine in 2000 

(Franco-Nevada Mining Corp. Ltd., 2001, p. 2). 

 Exploration continued to decline. Activity was concentrated 

along the major “trends,” Battle Mountain, Carlin, Getchell, and 

Midas. Several companies pursued high-grade vein targets, 

such as feeder-vein systems beneath the former Hog Ranch open 

pit mine in Washoe County and the Hollister open pit mine in 

Elko County (Tingley and LaPointe, 2001, p. 82). 

South Dakota.—Gold production decreased by more than 

17% compared with that of 1999. Homestake Mining Co’s 

124-year-old Homestake Mine at Lead will be shut down by the 

end of 2001. Homestake plans to produce about 7,500 kg 

(240,000 ounces) of additional gold before closure, and expects 

to spend over $66 million over 8 years on final reclamation and 

remediation (American Metal Market, 2000g). The Homestake 

Mine was again the largest gold-producing mine in South 

Dakota and the 14th largest gold-producing mine in the country. 

During the year, the mine, a nearly 2.5-km-deep operation with 

associated surface mining, yielded about 5,300 kg (171,000 

ounces) of gold (Homestake Mining Co., 2001, p. 4). 

 Goldcorp Inc. operated an open pit gold mine near Lead, the 

Wharf Mine, which produced about 2,900 kg (94,000 ounces) of 

gold (Goldcorp Inc., 2001, p. 5). 

Utah.—Rio Tinto Ltd.’s Bingham Canyon Mine, which was 

operated by Kennecott Utah Copper Corp., produced about 

16,500 kg (529,000 ounces) of gold as a byproduct of its copper 

mining operations near Salt Lake City. Long ranked as one of 

the Nation’s principal gold-producing mines, Bingham Canyon 

was the seventh largest gold producer in 2000. Kennecott also 

operated the nearby Barney’s Canyon Mine, an open pit and 

heap-leaching operation that produced 4,800 kg (153,000 

ounces) of gold (Rio Tinto Ltd., 2001, p. 3). 
34.4 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2000 

Washington.—Echo Bay Mines’s Kettle River underground 

mine, in the northeastern part of the State, produced 2,900 kg 

(94,000 ounces) of gold in its 10th year of production (Echo 

Bay Mines Ltd., 2001, p. 9). 

 The Crown Jewel project, with projected annual production of 

5,400 kg (175,000 ounces) of gold, received an unfavorable 

ruling on a water-quality permit. The ruling, made by 

Washington State’s Pollution Control Hearings Board, delayed 

the project’s startup date (American Metal Market, 2000d). 

World Review 

 World gold mine production was about the same as in 1999. 

Increased production from mines in Russia and the United 

States was enough to help offset a continuing decline in gold 

output from South Africa. According to its annual review of 

world gold supply and demand, Gold Fields Mineral Services 

Ltd. calculated that the total global supply of gold in 2000 was 

3.95 Mkg (123 million ounces) compared with the previous 

year’s total supply of 4.15 Mkg (129 million ounces) (Klapwijk 

and others, 2001, p. 7). Gold Fields Mineral Services also 

reported level mine production; increases in official sector sales 

(1.5%); no net producer hedging; and a implied net 

disinvestment of 291,000 kg (9 million ounces), which was sales 

of bars and coins by private investors. Old gold scrap levels 

hardly changed in 2000 (Klapwijk and others, 2001, p. 7). 

 On the demand side, Gold Fields Mineral Services reported 

only 5,000 kg (155,000 ounces) less that its 1999 level. Jewelry 

fabrication increased by 26,000 kg (810,000 ounces) as strong 

growth in the Middle East outweighed weakness in the Indian 

subcontinent and Europe. Bar hoarding fell by 18% largely as a 

result of lower Japanese demand. Coin fabrication collapsed to 

46,000 kg (1.4 million ounces), but the amount of gold used in 

electronics increased by 15% (Klapwijk and others, 2001, p. 

10). 

 With regard to gold exploration, the Metals Economics 

Group, Halifax, Nova Scotia, Canada, determined from its 

annual survey of worldwide exploration budgets for 656 

companies (diGesu and others, 2000a) that $1.09 billion (46%) 

of the 2000 world exploration budget total for nonferrous metals 

was directed to gold, with 428 companies reporting active gold 

programs. The expenditures for gold were $238 million less 

than the $1.33 billion (52% of the total) reported for gold 

exploration in 1999. As in the preceding 6 years, Latin America 

received the highest expenditure for gold—$662.9 million 

(28%) of the reported 2000 world total exploration dollars 

(diGesu and others, 2000b). 

Australia.—Australian gold mine production dropped by 

about 2% from 1999. However, Australia retained its position 

as the world’s third largest gold-producing nation. Of the 

296,400 kg (9.2 million ounces) of gold mined in 2000, Western 

Australia, Queensland, and Northern Territory accounted for 

about 70%, 12%, and 8%, respectively (Australian Bureau of 

Agricultural and Resource Economics, 2001, p. 15); Western 

Australia’s production was derived principally from mining 

operations near Kalgoorlie. Other Australian gold-producing 

States were, in descending order of output, New South Wales, 

Victoria, Tasmania, and South Australia. 

 Cost at the Granny Smith Mine, traditionally one of the 

lowest producers, doubled. The higher costs were partially a 

result of lower gold production as waste rock was mined to gain 

access to an ore zone. In addition, operational difficulties were 

experienced owing to harsh weather during the first quarter 

(Klapwijk and others, 2001, p. 45). 

 The Australian Bureau of Statistics reported that expenditures 

for mineral exploration in Australia increased during the second 

quarter of 2000. The 4% increase in spending marked a reversal 

in the decline of exploration expenditures in Australia since 

1997. Spending for gold exploration, which accounted for the 

largest share of total spending, rose by more than $20 million in 

the second quarter of 2000 (American Metal Market, 2000a). 

 Medals for the Sydney Olympics were made from donated 

newly mined gold and silver, plus old Australian coins that were 

out of circulation. Each gold metal was made of pure silver 

with a minimum of 6 grams of gold for plating. During the 

Olympic Games, 650 gold metals were awarded (American 

Metal Market, 2000b). 

Brazil.—During 2000, gold production declined 1% to about 

the 52-metric-ton (1.7-million-ounce) level. Output from the 

informal, noncorporate mining sector, the garimpeiros, was 

estimated to have dropped to as low as 12,000 kg (370,000 

ounces) of gold. Low gold prices, higher fuel prices, stricter 

environmental controls, and restriction of mining activities in 

native Indian reserves encouraged garimpeiros to find 

alternative and more formal employment. Most of the formal 

mining sector, however, performed well, maintaining about 

40,000 kg (1.3 million ounces) of gold production by reducing 

costs (Klapwijk and others, 2001, p. 37). 

Canada.—Canada dropped to fifth position in the ranking of 

world gold producers, as its output declined by 2% to 154,000 

kg. Gold was produced at about 33 lode gold mines, the same 

as that of 1999. During the year, no gold mines began 

operation, six gold mines reopened, and six gold mines 

shutdown or suspended operations. Canada’s principal 

gold-producing Provinces were Ontario (47%), Quebec (22%), 

British Columbia (17%), and Manitoba (5%). Gold was also 

produced in Alberta, New Brunswick, Newfoundland, Nunavut, 

Saskatchewan, the Northwest Territories, and Yukon Territory. 

The reopening of the Red Lake Mine in northwestern Ontario in 

August, after 4 years of shutdown due to a labor dispute, was 

the highlight of the year for gold mining in Canada. Highly 

successful exploration work, which resulted in the discovery of 

the nonrefractory High Grade Zone, allowed the mine to be 

redeveloped into an exceptionally high-grade and low-cost gold 

mine. The mine is currently the lowest cost gold mine in 

Canada (Michel Miron, Natural Resources Canada, written 

commun., 2001). 

Chile.—Gold output in Chile increased 19% to 54,000 kg (1.7 

million ounces) despite a number of mine closures. Closures 

included the high-cost Andacollo Mine, which suspended 

operations in September, and the El Tambo Mine where 

operations ceased in June due to ore depletion. The new El 

Peñon had a strong performance, adding just under 10,000 kg 

(3.0 million ounces) to Chile’s gold output in 2000 (Klapwijk 

and others, 2001, p. 37). 

China.—The Chinese produced 180,000 kg of gold in 2000, 

up 4% from the 173,000 kg of gold produced in 1999 (Platts 

Metals Week, 2001). 

 The Chinese Government released an outline of how China is 

restructuring its gold market in a series of economic reforms to 

comply with standards set by the World Trade Organization for 

membership. China is also expected to establish a national gold 
GOLD—2000 34.5 

exchange in 2001, which will trade only spot gold. China 

produces 180,000 kg of gold from 1,200 mines, and its central 

bank holds 395,000 kg of gold (American Metal Market, 

2000c). 

India.—The Delhi Stock Exchange offered online trading in 

gold bullion early in November and thereby initiated the first 

stock exchange in India for bullion trading. Almost 29 Mkg of 

gold, valued at $300 billion, are held in India. The Government 

holds only about 400,000 kg of gold, with the remainder in 

private hands. In addition, India imports over 800,000 kg of 

gold annually to satisfy its demand for jewelry (American Metal 

Market, 2000e). 

Indonesia.—Gold output was estimated to have dropped by 

2% in 2000 to 125,000 kg. The Grasberg Mine, which produced 

96,000 kg of gold, generated as a byproduct 77% of the 

country’s gold output. Also, the Minahasa and Kelian Mines 

declined in gold output owing to industrial action and 

community protests through road blocks. Losses were more 

than offset by extra gold output from two new gold mining 

operations: The Gosowong Mine produced more than 7,000 kg 

of gold in its first full year of operation. In addition, the Batu 

Hijau copper-gold mine shipped its first concentrate at the end 

of 1999 and contributed almost 10,000 kg to Indonesian gold 

output in 2000 (Klapwijk and others, 2001, p. 39). 

Mexico.—Gold production increased by 11% to almost 

26,000 kg in 2000 (Klapwijk and others, 2001, p. 37). 

 The International Monetary Fund (IMF) has completed its 

planned sales of over 400,000 kg (13 million ounces) of gold by 

reevaluating the gold without depressing the gold market. 

Seven off-market transactions were made with the borrowing 

countries, Brazil and Mexico, selling the gold, buying it back, 

and raising cash by reevaluating the gold. The off-market 

transactions were part of an agreement to fund the IMF’s share 

of the "Highly Indebted Poor Countries" (HIPC) initiative. IMF 

sold its gold to Brazil and Mexico and accepted it back 

immediately from Brazil and Mexico for payment of an 

obligation due that same day. IMF takes advantage of the 

difference between the value of gold on its books and the much 

higher market price. The cash is then invested and the interest is 

used to support the HIPC initiative (American Metal Market, 

2000f). 

Papua New Guinea.—Gold production in Papua New Guinea 

rose over 21% to 74,000 kg. Porgera Mine showed a 20% 

increase in gold production owing to higher grades and 

improved recovery at the plant. Record gold output of 16,000 

kg was reported at the Ok Tedi Mine, however, it is still 

embroiled in a protracted court battle with landowners over 

damage caused by waste in rivers around the mine (Klapwijk 

and others, 2001, p. 40). 

Peru.—For the fifth consecutive year, gold production in Peru 

exceeded that in Brazil, making it the largest gold producer in 

Latin America at 133,000 kg of gold, which was 3% more than 

that of 1999. Gains at the Yanacocha and Orcopampa Mines 

were enough to offset the losses from the Pierina Mine where 

gold output declined 2%, as lower grade ore was processed. 

Further losses of 25% were expected and reported at the Sipan 

Mine. Production is expected to rise even further at the largescale, low-cost, open pit, heap-leach Yanacocha Mine in 

northern Peru, when La Quinua (one of the five deposits that 

constitute the Yanacocha Mine) is brought into production in 

2001 (Klapwijk and others, 2001, p. 36). 

Russia.—Production in Russia grew by 11%, to 140,000 kg 

of gold, moving Russia to the sixth position among the top gold 

producing countries. Two years of strong growth in gold 

production indicate that gold reserves are available to be mined 

should Russian owners receive adequate financial backing. 

Liberalization in the gold industry, which started a few years 

ago and accelerated after the economic crisis of 1998, allowed 

many commercial banks to obtain licenses for trading and 

exporting gold. The proliferation of these banks has provided 

more than sufficient funding to the gold industry, which buys 

between 70% and 80% of the gold from the mines. Much of the 

buying is completed through prepurchasing schemes entered 

into before the gold is produced. Most of the gold is exported 

with a 5% export duty on precious metals ores and concentrate 

imposed by the Central Bank (Klapwijk and others, 2001, p. 

40). 

South Africa.—Gold production in South Africa, the world’s 

largest gold-producing nation, declined for the seventh 

consecutive year, to 431,000 kg of gold, 5% less than that of 

1999, and left gold production at its lowest level in 46 years. 

South Africa has not had a year-on-year increase in gold output 

since 1993, and consequently with the increase in gold 

production in Australia and North America, its share fell from 

30% of the world’s gold output in 1993, to roughly 17% in 

2000. The successive declines can, in part, be explained by 

operational difficulties related to the maturity of the industry 

and the nature of the ore deposits: narrow veins in hard rock 

being mined at deep levels. In 2000, the number of working 

shifts were reduced, which also affected gold production 

(Klapwijk and others, 2001, p. 33). 

 The tonnage and grade of ore milled during 2000 by the 

mines comprising the membership of the Chamber of Mines of 

South Africa amounted to almost 84 billion kilograms at a grade 

of 4.51 grams per ton of gold ore; this compares with a higher 

total tonnage of 87 billion kilograms at a higher grade of 4.62 

grams per ton that was milled by Chamber members in 1999. 

 Of the top 15 gold-producing companies in the world in 2000, 

4 were South African. AngloGold Ltd., listed on the Australian 

Stock Exchange in November 1999, remained the leading goldproducing company in the world. Gold Fields Ltd. was third in 

the world. The other two companies were Harmony Gold 

Mining Co. Ltd. (8th) and Durban Roodepoort Deep Ltd. (12th). 

Durban Roodepoort Deep was listed on the Australian Stock 

Exchange in March 1999 (Klapwijk and others, 2001, p. 31). 

Uzbekistan.—Gold production in Uzbekistan remained 

constant at 85,000 kg. Gold output at the Zarafshan-Newmont 

Gold’s joint venture, which processes high-grade tailings from 

the state-owned Muruntau Mine at Zarafshan, dropped by 8% 

primarily due to changes in production levels. In addition, 

Navoi Mining and Minerals, operators of the Muruntau Mine in 

the Kyzylkum desert, reported throughput and fine gold 

recovery increased. Navoi announced plans to start building a 

biooxidation plant at its Uchkuduk site, which could see gold 

output increase further in the future (Klapwijk and others, 2001, 

p. 41). 

Outlook 

 World gold producers are expected to reduce capital spending 

during the next 2 or 3 years. Small-to-medium-sized companies 

will be absorbed by the larger gold mining companies, and the 
largest companies will merge as a consolidation phase takes 

place in the gold mining industry. This trend of consolidation to 

maintain gold reserves is expected to continue; thus, forecasts of 

a future gold industry comprised of less than 10 major 

companies cannot be easily dismissed. Moreover, larger 

companies that produce as much as 300,000 kilograms per year 

of gold could materialize in the next 2 to 3 years. 

Capital spending reductions will occur; this means less gold

exploration and suggests that new pipeline projects will not be 

sufficient to replace old ones. The U.S. gold industry already 

has been closing its gold mines, 10 in 1999 and 12 more in

2000. It is not only the low price of gold that drives spending 

down; it is also due to lack of investor interest because too many 

gold companies are generating poor returns. 

References Cited

American Metal Market, 2000a, Australian mineral exploration rebounds 

slightly but still lags: American Metal Market, v. 108, no. 182, September 

20, p. 4.

———2000b, Australians add local color to medals for Olympic Games:

American Metal Market, v. 108, no. 166, August 28 p. 15.

———2000c, Barclays releases outline of China’s gold liberalization: American 

Metal Market, v. 108, no. 182, September 20, p. 4.

———2000d, Crown Jewel mine stalled: American Metal Market, v. 108, 

no. 15, January 25, p. 6.

———2000e, Delhi Stock Exchange ready to debut online gold trading:

American Metal Market, v. 108, no. 182, September 20, p. 14.

———2000f, IMF completes gold transactions for debt relief: American Metal

Market, v. 108, no. 69, April 11, p. 7.

———2000g, Low grades, high costs force mine closing: American Metal

Market, v. 108, no. 178, September 14, p. 6.

AngloGold Ltd., 2001, Report for the quarter and year ended 31 December

2000: Republic of South Africa, AngloGold Ltd. news release, January 30,

60 p.

Australian Bureau of Agricultural and Resource Economics, 2001, Australian 

mineral statistics, fourth quarter 2000: Canberra, Australian Bureau of 

Agricultural and Resource Economics, 32 p.

Barrick Gold Corp., 2001, Barrick achieves record 2000 production and cash 

flow record earnings before US$1.1 billion provision—Reserves remain

intact at US$300 gold: Toronto, Canada, Barrick Gold Corp. press release,

February 1, 19 p.

Battle Mountain Gold Co., 2000, Form 10-K: Washington, DC, U.S. Securities 

and Exchange Commission, 97 p.

CRU International Ltd., 2001, Precious metals market outlook: London, CRU 

International Ltd., Q2, 94 p.

diGesu, Dominique, Bearmish, Marilyn, Angelucci, Josee, Fox, Debbie, Haynes,

Shelley, Hopkinson, Lori, Lowery, Jim, Slaunwhite, Janice, and Selva,

Sandra, 2000a, Overview of worldwide exploration budgets (part I): Halifax,

Nova Scotia, Canada, Metals Economics Group Strategic Report, v. 13, no. 5,

September-October, p. 1-5.

——— 2000b, Overview of worldwide exploration budgets (part II): Halifax, 

Nova Scotia, Canada, Metals Economics Group Strategic Report, v. 13, no. 6,

November-December, p. 12-19. 

Echo Bay Mines Ltd., 2001, Echo Bay Mines announces fourth quarter and full

year 2000 results: Englewood, CO, Echo Bay Mines Ltd. press release,

February 15, 19 p.

Franco-Nevada Mining Corp. Ltd., 2001, Franco-Nevada reports third quarter

results and is on track for a record year: Toronto, Canada, Franco-Nevada 

Mining Corp. Ltd. news release, January 31, 7 p.

Glamis Gold Ltd., 2001, Glamis Gold achieves record gold production and 

reports improved outlook for 2001: Reno, NV, Glamis Gold Ltd. news 

release, February 20, 4 p. 

Gold News, 1998, Gold snapshot—Underground mines are growing trend: Gold

News, November-December, p. 2. 

Goldcorp Inc., 2001, Goldcorp annual report 2000: Toronto, Canada, Goldcorp

Inc., 28 p.

Hecla Mining Co., 2001, Hecla releases 4th quarter and year-end results,

produces nearly 8 million ounces of silver: Coeur D’Alene, ID, Hecla 

Mining Co. press release, March 6, 8 p.

Homestake Mining Co., 2001, Homestake reports Q4 earnings of $0.02 per

share, all-time record quarterly and annual gold production, lowest cash costs 

in 23 years: Walnut Creek, CA, Homestake Mining Co. news release, 

February 6, 25 p.

Kinross Gold Corp., 2001, Kinross annual report 2000: Toronto, Canada,

Kinross Gold Corp., 60 p.

Klapwijk, Philip, le Roux, Hester, Walker, Paul, Newman, Philip, and Alway, 

Bruce, 2001, Gold 2001: Gold Fields Mineral Services Ltd., 113 p.

McCulloch, R.B., 2001, Montana: Mining Engineering, v. 53, no. 5, May, 

p. 80-82.

Meridian Gold Inc., 2001, Meridian Gold reports record profits in the fourth

quarter and full year 2000: Reno, NV, Meridian Gold Inc. press release,

February 22, p. 2.

Newmont Gold Co., 2001, Newmont Gold Company annual report 2000: 

Denver, CO, Newmont Gold Co., 58 p.

Placer Dome Inc., 2001, Placer Dome reports record cash flow and mine 

operating earnings: Vancouver, B.C., Canada, Placer Dome Inc. press 

release, February 15, 19 p.

Platts Metals Week, 2001, China’s gold demand could rise: Platts Metals Week,

v. 72, no. 9, February 26, p. 4.

Rio Tinto Ltd., 2001, Rio Tinto quarterly production report for the quarter

ending 31 December 2000: London, England, Rio Tinto Ltd. media release,

January 24, 24 p.

Szumigala, D.J., and Swainbank, R.C., 2001, Alaska’s mineral industry 2000: 

Alaska Division of Geology and Geophysics Surveys Information Circular

47, March, 14 p.

Thomas, P.R., and Boyle, E.H., Jr., 1986, Gold availability appraisal: U.S. 

Bureau of Mines Information Circular 9070, 87 p.

Tingley, J.V., and LaPointe, D.D., 2001, Nevada: Mining Engineering, v. 53,

no. 5, May, p. 82-86.

U.S. Bureau of Mines and U.S. Geological Survey, 1980, Principles of a 

resource/reserve classification for minerals: U.S. Geological Survey Circular

831, 5 p.

U.S. Geological Survey, 2000, 1998 assessment of undiscovered deposits of 

gold, silver, copper, lead, and zinc in the United States: U.S. Geological

Survey Circular 1178, 21 p.

Viceroy Resource Corp., 2001, Viceroy year-end 2000 results & review:

Vancouver, Canada, Viceroy Resource Corp. press release, March 9, p. 2.

Wilburn, D.R., 2001, Exploration: Mining Engineering, v. 53, no. 5, May, 

p. 41-51.

World Gold Council, 2001, 2000 gold jewelry sales exceed $15 billion record; 

sales continue 10 year growth trend: New York, NY, World Gold Council

press release, July 16, 2 p.

GENERAL SOURCES OF INFORMATION

U.S. Geological Survey Publications

Contributions to the Gold Metallogeny of Northern Nevada: 

(CD-ROM), U.S. Geological Survey Open-File Report 98-

338, 1999. 

Geologic and Grade-Tonnage Information on Tertiary

Epithermal Precious- and Base-Metal Vein Districts 

Associated With Volcanic Rocks, Bulletin 1666, 1986. 

Geologic Characteristics of Sediment- and Volcanic-Hosted 

Disseminated Gold Deposits—Search for an Occurrence 

Model, Bulletin 1646, 1985. 

Geology and Resources of Gold in the United States, Bulletin

1857, 1998. 

Gold. Ch. in Mineral Commodity Summaries, annual.

Gold. Ch. in Minerals Yearbook, annual.

Gold. Ch. in United States Mineral Resources, Professional

Paper 820, 1973. 

Precious Metals. Mineral Industry Surveys, monthly.

Principal Gold-Producing Districts of the United States, 

Professional Paper 610, 1968. 

Other

American Metal Market, daily. 

Canadian Mines Handbook 1997-98. 

34.6 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2000 
GOLD—2000 34.7 

Engineering and Mining Journal, monthly. 

Gold. Ch. in Mineral Facts and Problems, U.S. Bureau of Mines 

Bulletin 675, 1985. 

Jewelers’ Circular-Keystone, monthly. 

Mining Journal, biweekly. 

The Mining Record, weekly. 

The Northern Miner, weekly. 

Platts Metals Week, weekly. 

Randol Mining Directory 1999. 

World Gold—A Minerals Availability Appraisal, U.S. Bureau 

of Mines Special Publication SP 24-94, 1994. 
TABLE 1

SALIENT GOLD STATISTICS 1/

1996 1997 1998 1999 2000

United States:

 Mine production kilograms 326,000 362,000 366,000 341,000 353,000

 Value thousands $4,090,000 $3,870,000 $3,480,000 $3,070,000 $3,180,000

 Gold recovered by cyanidation:

 Extracted in vats, tanks, closed containers 2/ kilograms 170,000 201,000 238,000 196,000 90,000

 Leached in open heaps or dumps 3/ do. 124,000 132,000 103,000 131,000 193,000

 Refinery production:

 Concentrates and doré do. NA 270,000 277,000 265,000 197,000

 Recycled materials (new and old scrap) do. NA 100,000 163,000 143,000 81,600

 Exports, refined do. 406,000 391,000 430,000 435,000 440,000

 Imports for consumption, refined do. 143,000 194,000 257,000 196,000 184,000

 Net deliveries from foreign stocks in Federal Reserve

 Bank of New York do. 373,000 143,000 310,000 303,000 r/ 356,000

 Stocks, December 31:

 Industry 4/ do. NA 17,300 16,600 14,700 9,300

 Commodity Exchange (Comex) 5/ do. 20,700 15,200 25,200 37,900 52,900

 Department of the Treasury metric tons 8,140 8,140 8,130 8,170 8,140

 Volume of U.S. Gold Futures Trading 6/ do. 14,300 29,700 28,600 29,800 20,600

 Department of the Treasury: 7/

 American Eagle gold coin kilograms 10,700 20,000 49,200 78,200 13,900

 Other numismatic gold coins do. 1,190 500 86 430 330

 Consumption in industry and the arts do. NA 137,000 219,000 245,000 183,000

 Apparent demand, refined 8/ do. NA 265,000 667,000 283,000 380,000

 Price, average per troy ounce 9/ 389 332 295 280 280

 Employment, mine and mill only 10/ 16,900 16,300 13,400 10,300 10,400

 World:

 Production, mine kilograms 2,290,000 r/ 2,450,000 2,510,000 r/ 2,550,000 r/ 2,550,000 e/

 Official bullion reserves 11/ metric tons 34,400 34,000 33,600 33,500 r/ 33,000

e/ Estimated. r/ Revised. NA Not available.

1/ Data are rounded to no more than three significant digits, except prices.

2/ May include small quantities recovered by gravity methods.

3/ May include tailings, waste-ore dumps, and previously mined ore at some inactive mines.

4/ Unfabricated refined gold held by refiners, fabricators, dealers, and the U.S. Department of Defense.

5/ Commodity Exchange (Comex) Division of the New York Mercantile Exchange.

6/ Comex only.

7/ Fiscal year bullion disbursements to U.S. Mint coin programs. Fiscal year begins October 1, of year prior to year indicated.

8/ Defined as refinery production from primary materials plus refinery production from old scrap plus net bullion flow to market from foreign stocks at the 

New York Federal Reserve Bank plus net imports of bullion. Assumed to include gold held for investment purposes. Excludes gold contained in fabricated 

items, imported coins, and official monetary gold.

9/ Engelhard Corp. industries quotation.

10/ Data from Mine Safety and Health Administration.

11/ Held by central banks, governments, and international monetary organizations. Data from International Monetary Fund.

TABLE 2

MINE PRODUCTION OF GOLD IN THE UNITED STATES, BY STATE 1/

(Kilograms)

State 1999 2000

Alaska 2/ 16,200 r/ 15,600

Arizona 786 442

California 17,500 17,200

Idaho W W

Montana 7,540 r/ 9,310

Nevada 256,000 r/ 268,000

South Dakota 10,300 r/ 8,230

Washington 3,250 2,930

Other States 3/ 29,700 r/ 31,700

 Total 341,000 353,000

r/ Revised. W Withheld to avoid disclosing company proprietary data, included with "Other States."

1/ Data are rounded to no more than three significant digits; may not add to totals shown.

2/ Production data collected by the State.

3/ Includes Colorado, New Mexico, South Carolina, Utah, Wisconsin, and States indicated by symbol W. 
TABLE 3

LEADING GOLD-PRODUCING MINES IN THE UNITED STATES IN 2000, IN ORDER OF OUTPUT 1/

Rank Mine County and State Operator Kilograms

1 Betze-Post/Goldstrike Eureka, NV Barrick Gold Corp. 51,200

2 Twin Creeks 2/ Humboldt, NV Newmont Gold Co. 41,100

3 Carlin operations 2/ Elko, Eureka, NV do. 37,000

4 Cortez Lander, NV Placer Dome Inc. 31,400

5 Meikle/Goldstrike 3/ Elko, NV Barrick Gold Corp. 25,100

6 Round Mountain Nye, NV Round Mountain Gold Corp. 19,800

7 Bingham Canyon 4/ Salt Lake, UT Kennecott Utah Copper Corp. 16,500

8 Lone Tree 2/ Humboldt, NV Newmont Gold Company 15,100

9 Fort Knox 5/ Fairbanks, AK Fairbanks Gold Mining Inc. 11,300

10 Jerritt Canyon Elko, NV Independence Mining Co., Inc. 10,700

11 Cresson Teller, CO Cripple Creek & Victor Gold Mining Co. 7,700

12 Golden Sunlight Jefferson, MT Placer Dome Inc. 6,600

13 Ken Snyder Elko, NV Euro-Nevada Mining Co. 6,040

14 Homestake Lawrence, SD Homestake Mining Co. 5,320

15 McCoy/Cove Lander, NV Echo Bay Mines Ltd. 5,060

16 Barney's Canyon Salt Lake, UT Kennecott Barney's Canyon Mining Co. 4,760

17 Bald Mountain White Pine, NV Placer Dome Inc. 4,180

18 Mesquite 2/ Imperial, CA Newmont Gold Co. 4,060

19 Ruby Hill Eureka, NV Homestake Mining Co. 3,890

20 Castle Mountain San Bernardino, CA Viceroy Resources Corp. 3,690

21 McLaughlin Napa, Yolo, CA Homestake Mining Co. 3,350

22 Denton-Rawhide Mineral, NV Kennecott Rawhide Mining Co. 3,250

23 Rand Kern, CA Glamis Rand Mining Co. 3,110

24 Kettle River Ferry, WA Echo Bay Mines Ltd. 2,930

25 Wharf Lawrence, SD Wharf Resources, Ltd. 2,920

26 Briggs Inyo, CA Canyon Resources Corp. 2,690

27 Greens Creek 6/ Juneau, AK Kennecott Greens Creek Mining Co. 2,510

28 Rochester Pershing, NV Coeur d'Alene Mines Corp. 2,360

29 Beartrack Lemhi, ID Meridian Gold Inc. 2,250

(7/) Florida Canyon Pershing, NV Florida Canyon Mining, Inc. W

W Withheld to avoid disclosing company proprietary data.

1/ Data are rounded to no more than three significant digits; these mines accounted for more than 96% of the U.S. gold production in 2000.

2/ Mill output.

3/ Previously reported county location was incorrect.

4/ Mine production refers to total quantity of gold produced in concentrates.

5/ Mine production refers to gold equivalent produced.

6/ Updated to reflect locality name change.

7/ Production at Florida Canyon is withheld; mine is among the top 30 gold-producing mines in the United States, but is not shown in rank

order to avoid disclosing company propriety data.

Sources: Company annual reports, Securities and Exchange Commission's 10K and 6K reports, and company news releases.
TABLE 4

U.S. EXPORTS OF GOLD, BY COUNTRY 1/ 2/

Ores and concentrates 3/ Doré and precipitates Refined bullion 4/ Total

Quantity Value Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

1999 117 $1,180 87,300 $778,000 435,000 $3,880,000 523,000 $4,660,000

2000:

 Armenia -- -- -- -- 284 2,560 284 2,560

 Australia -- -- -- -- 10,900 99,100 10,900 99,100

 Austria -- -- -- -- 50 470 50 470

 Bahamas, The -- -- -- -- 29 221 29 221

 Bolivia -- -- -- -- 42 360 42 360

 Brazil 9 89 -- -- 402 3,430 411 3,520

 Canada -- -- 4,550 28,700 4,350 43,800 8,900 72,400

 China 2 20 -- -- -- -- 2 20

 Costa Rica -- -- -- -- (5/) 3 (5/) 3

 France 5 40 -- -- (5/) 5 5 44

 Germany 494 6,800 10 65 115 886 620 7,750

 Guatemala -- -- -- -- 511 5,000 511 5,000

 Hong Kong (5/) 3 -- -- 2,200 19,800 2,200 19,800

 Iceland -- -- -- -- (5/) 4 (5/) 4

 India -- -- 18 137 -- -- 18 137

 Ireland -- -- 3 27 14 70 17 97

 Israel -- -- 7 44 8 63 15 107

 Italy -- -- -- -- 58 620 58 620

 Japan -- -- 134 1,020 425 4,760 559 5,780

 Korea, Republic of 1 5 -- -- 1,160 9,830 1,160 9,840

 Mexico 149 1,590 514 6,820 31,000 295,000 31,700 303,000

 Netherlands Antilles -- -- 2 6 2 23 4 29

 Pakistan -- -- -- -- 57 512 57 512

 Peru -- -- -- -- 6,180 53,200 6,180 53,200

 Philippines 7 52 -- -- 6 68 13 120

 Romania -- -- -- -- 5 39 5 39

 Saudi Arabia -- -- -- -- 1,970 17,600 1,970 17,600

 Singapore -- -- 8 81 1,080 9,460 1,090 9,540

 South Africa -- -- -- -- 1 6 1 6

 Spain -- -- -- -- (5/) 3 (5/) 3

 Sweden -- -- 8 37 12 105 20 141

 Switzerland 35 342 100,000 887,000 267,000 2,460,000 368,000 3,350,000

 Taiwan -- -- 27 178 1,890 17,000 1,920 17,100

 Turkey -- -- -- -- 217 1,950 217 1,950

 United Arab Emirates -- -- -- -- 3,290 28,500 3,290 28,500

 United Kingdom 42 739 -- -- 107,000 955,000 107,000 956,000

 Venezuela -- -- -- -- 61 595 61 595

 Total 745 9,680 106,000 924,000 440,000 4,030,000 547,000 4,970,000

-- Zero.

1/ Data are rounded to no more than three significant digits; may not add to totals shown.

2/ Ash and residues data were zero for listed years.

3/ Includes base metal ores, concentrates, and matte destined for refining.

4/ Bullion also moves in both directions between U.S. markets and foreign stocks on deposit in the Federal Reserve Bank. Monetary gold excluded. 

5/ Less than 1/2 unit.

Source: U.S. Census Bureau.
TABLE 5

U.S. EXPORTS OF GOLD, BY COUNTRY 1/

Waste and scrap Metal powder Gold compounds

Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

1999 40,000 $302,000 270 $2,800 561,000 $14,100

2000:

 Armenia 7 67 -- -- -- --

 Australia 2 15 -- -- 867 54

 Belgium 1,870 17,100 -- -- -- --

 Bermuda -- -- 2 8 -- --

 Brazil -- -- -- -- 361 20

 British Virgin Islands -- -- 1 6 -- --

 Canada 26,500 168,000 56 500 1,100,000 7,700

 China 339 3,230 -- -- -- --

 Colombia -- -- 3 25 5,510 55

 Denmark -- -- -- -- 11,300 54

 Dominican Republic -- -- -- -- 1,230 127

 France 5 80 4 41 27 8

 Germany 1,390 18,300 23 155 14 14

 Guatemala 50 458 -- -- -- --

 Hong Kong 5 25 3 64 7,780 84

 India -- -- 1 19 1 3

 Israel 10 237 18 193 216,000 1,560

 Italy 2,000 16,000 (2/) 5 16,800 80

 Jamaica 1 21 15 146 -- --

 Japan 13 174 45 515 521 11

 Korea, Republic of -- -- -- -- 16,500 79

 Kuwait -- -- -- -- 4,940 24

 Lebanon -- -- 2 7 -- --

 Mexico 281 2,670 232 2,350 8,460 3,530

 Netherlands -- -- 1 19 207 1,120

 Netherlands Antilles (2/) 11 4 34 -- --

 Pakistan 4 36 1 9 -- --

 Singapore 1 25 1 18 709 460

 South Africa -- -- 1 5 1 10

 Sweden 982 9,420 5 28 -- --

 Switzerland 19 181 2 19 -- --

 Taiwan 12 486 (2/) 3 -- --

 Thailand -- -- 1 9 -- --

 United Arab Emirates 1 19 7 60 -- --

 United Kingdom 30,600 464,000 697 6,460 1,960 304

 Venezuela -- -- 2 16 -- --

 Total 64,100 700,000 1,130 10,700 1,390,000 15,300

-- Zero.

1/ Data are rounded to no more than three significant digits; may not add to totals shown.

2/ Less than 1/2 unit.

Source: U.S. Census Bureau.
TABLE 6

U.S. IMPORTS FOR CONSUMPTION OF GOLD, BY COUNTRY 1/ 

Ores and concentrates 2/ Doré and precipitates Refined bullion 3/ Ash and residues Total

Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value

Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

1999 117 $1,130 24,700 $210,000 196,000 $1,790,000 133 $1,760 221,000 $2,000,000

2000:

 Argentina -- -- 181 1,400 -- -- -- -- 181 1,400

 Aruba -- -- -- -- 622 6,000 -- -- 622 6,000

 Australia 38 392 5 35 151 1,330 -- -- 194 1,750

 Belgium -- -- -- -- (4/) 3 -- -- (4/) 3

 Bolivia -- -- 204 1,720 144 1,200 -- -- 348 2,930

 Brazil -- -- 135 1,080 40,100 364,000 -- -- 40,200 365,000

 Canada 27 243 6,090 52,700 110,000 1,020,000 32 586 116,000 1,070,000

 Chile -- -- 1,690 18,900 6,000 54,700 13 114 7,710 73,700

 Colombia -- -- 1,170 8,340 7,880 62,000 -- -- 9,040 70,300

 Costa Rica -- -- 139 1,170 -- -- -- -- 139 1,170

 Dominican -- -- -- -- 238 2,200 -- -- 238 2,200

 Repuiblic

 Ecuador -- -- 134 1,180 69 627 -- -- 203 1,810

 El Salvador -- -- -- -- 2 17 -- -- 2 17

 Fiji -- -- -- -- 786 9,350 -- -- 786 9,350

 France -- -- -- -- 683 6,310 -- -- 683 6,310

 Germany -- -- -- -- 10 38 -- -- 10 38

 Ghana -- -- 4 45 -- -- -- -- 4 45

 Guyana -- -- 67 710 4 34 -- -- 71 744

 Heard and -- -- 22 112 -- -- -- -- 22 112

 McDonald

 Islands

 Honduras -- -- 983 6,520 77 377 -- -- 1,060 6,900

 Israel -- -- -- -- 100 924 -- -- 100 924

 Italy -- -- 18 218 1 12 -- -- 20 229

 Jamaica -- -- -- -- 1 12 -- -- 1 12

 Mali -- -- -- -- 7 60 -- -- 7 60

 Mexico -- -- 4,450 37,900 786 7,440 8 91 5,250 45,400

 Nicaragua -- -- 730 4,390 399 4,160 6 1,010 1,130 9,550

 Norway -- -- -- -- 433 3,830 -- -- 433 3,830

 Panama -- -- -- -- 368 3,230 -- -- 368 3,230

 Peru -- -- 11,400 100,000 2,670 23,000 -- -- 14,100 123,000

 Russia -- -- 10 123 -- -- -- -- 10 123

 Singapore -- -- 1 7 (4/) 4 -- -- 1 10

 South Africa -- -- -- -- 2 22 -- -- 2 22

 Spain -- -- -- -- 1 7 -- -- 1 7

 Switzerland -- -- -- -- 1,150 10,300 -- -- 1,150 10,300

 United Arab -- -- 3 30 6 50 -- -- 9 80

 Emirates

 United Kingdom -- -- 11,500 55,300 5,020 45,700 (4/) 2 16,500 101,000

 Uruguay -- -- -- -- 6,240 60,900 0 0 6,240 60,900

 Total 65 636 39,000 292,000 184,000 1,680,000 60 1,800 223,000 1,980,000

-- Zero.

1/ Data are rounded to no more than three significant digits; may not add to totals shown.

2/ Includes base metal ores, concentrates, and matte destined for refining.

3/ Bullion also moves in both directions between U.S. markets and foreign stocks on deposit in the Federal Reserve Bank. Monetary gold excluded.

4/ Less than 1/2 unit.

Source: U.S. Census Bureau.
TABLE 7

U.S. IMPORTS FOR CONSUMPTION OF GOLD, BY COUNTRY 1/

Waste and scrap Metal powder Gold compounds

Quantity Value Quantity Value Quantity Value

 Year and country (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

1999 30,500 $94,100 5,500 $48,700 9,400 $59,700

2000:

 Australia 4 40 10 82 -- --

 Austria 2 26 -- -- -- --

 Belgium -- -- -- -- 1 4

 Bolivia 267 1,930 -- -- -- --

 Brazil 13 48 -- -- 1,550 9,210

 Canada 2,340 15,200 6,150 54,500 -- --

 China 11 96 -- -- -- --

 Colombia 47 387 -- -- 5,700 48,600

 Costa Rica 955 3,420 4 40 8 59

 Cote d'Ivoire -- -- 10 51 -- --

 Dominican Republic 9,990 22,800 20 155 -- --

 Ecuador 302 1,210 -- -- -- --

 El Salvador 2 10 -- -- -- --

 France 12 84 -- -- -- --

 Gambia, The -- -- (2/) 2 -- --

 Germany 116 103 10 82 16 37

 Ghana -- -- 89 870 -- --

 Guatemala 7 36 -- -- -- --

 Honduras 17 177 225 1,950 -- --

 Hong Kong 80 638 -- -- -- --

 Ireland (2/) 3 -- -- 51 660

 Israel 3 29 1 3 -- --

 Italy 2 23 (2/) 3 74 63

 Japan 18 118 1 13 316 174

 Korea, Republic of 13 97 -- -- -- --

 Liberia -- -- 1 10 -- --

 Malaysia 518 4,420 -- -- -- --

 Mali -- -- 8 70 -- --

 Mexico 3,400 13,700 6 95 -- --

 Nambia 6 35 -- -- -- --

 Netherlands 22 201 (2/) 3 19 14

 Netherlands Antilles 19 104 -- -- -- --

 Panama 119 638 -- -- -- --

 Peru 9 26 -- -- 170 1,520

 Philippines 38 275 -- -- -- --

 Sierra Leone -- -- 150 577 -- --

 Singapore 15 130 1 21 10 127

 Slovakia 7 62 -- -- -- --

 Spain 2 20 -- -- -- --

 St.Kitts and Nevis (2/) 3 -- -- -- --

 St. Vincent and the Grenadines 31 32 -- -- -- --

 Switzerland -- -- 29 219 -- --

 Taiwan 27 167 7 43 -- --

 Thailand 7 27 -- -- -- --

 United Arab Emirates 2 14 -- -- -- --

 United Kingdom 11,300 4,700 3 24 57 70

 Venezuela 23 195 -- -- -- --

 Total 29,800 71,200 6,720 58,800 7,970 60,500

-- Zero.

1/ Data are rounded to no more than three significant digits; may not add to totals shown.

2/ Less than 1/2 unit.

Source: U.S. Census Bureau.
TABLE 8

GOLD: WORLD MINE PRODUCTION, BY COUNTRY 1/ 2/ 

(Kilograms)

Country 1996 1997 1998 1999 2000 e/

Argentina 723 2,289 20,400 38,515 26,000

Armenia e/ 244 3/ 500 350 400 400

Australia 289,530 314,500 310,070 301,070 296,410 3/

Belize e/ 5 5 6 6 6

Bolivia 12,634 13,292 14,444 11,787 11,001 3/

Botswana 5 28 1 2 r/ 4

Brazil 4/ 60,011 58,488 49,567 52,634 r/ 52,000 p/

Bulgaria 3,390 e/ 1,020 1,250 r/ 1,030 r/ 1,100

Burkina Faso 1,063 r/ 1,089 r/ 1,091 r/ 886 r/ 1,000

Burundi e/ 2,200 1,500 1,500 1,500 1,500

Burma 172 r/ 181 r/ 172 r/ 242 r/ 250

Cameroon e/ 1,000 1,000 1,000 1,000 1,000

Canada 166,378 171,479 165,599 157,617 r/ 153,781 3/

Central African Republic e/ 90 90 100 100 100

Chile 53,174 49,459 44,980 45,663 54,142 3/

China e/ 145,000 175,000 178,000 173,000 r/ 180,000

Colombia 22,073 18,811 18,813 19,000 e/ 19,000

Congo (Brazzaville) e/ 10 10 10 10 10

Congo (Kinshasa) e/ 8,200 9,600 4,800 4,000 4,000

Costa Rica 510 e/ 502 483 300 e/ 350

Cote d'Ivoire 1,883 5/ 2,419 5/ 3,400 2,717 r/ 3,154 3/

Cuba e/ 250 250 1,000 1,000 1,000

Dominican Republic 3,659 2,349 1,424 651 650

Ecuador e/ 5/ 7,208 3/ 3,070 3,500 4,000 4,000

El Salvador -- 110 98 100 100

Eritrea 98 612 r/ 573 570 r/ e/ 500

Ethiopia 6/ 2,500 5/ 3,000 e/ 2,500 5,000 r/ e/ 2,000

Fiji 4,452 4,671 3,690 4,491 r/ 3,675 3/

Finland 3,070 3,900 r/ 5,000 r/ e/ 5,900 r/ e/ 5,000

France 5,651 4,953 r/ 3,793 r/ 3,600 r/ e/ 3,000

French Guiana (Guyane) e/ 3,000 3,000 3,000 3,000 3,000

Gabon e/ 7/ 70 70 70 70 70

Georgia e/ 500 700 700 2,000 2,000

Ghana 49,211 54,662 72,541 r/ 79,946 r/ 72,080

Guatemala e/ 30 100 100 50 50

Guinea 6,838 7,100 11,700 13,300 e/ 13,000

Guyana 12,006 13,521 13,500 e/ 13,500 e/ 13,500

Honduras e/ 142 3/ 150 150 150 150

India 8/ 2,449 2,750 2,383 2,500 r/ 4,800 3/

Indonesia 9/ 83,564 86,927 124,018 127,184 r/ 124,596 3/

Iran 640 684 822 800 e/ 800

Italy -- -- 1,200 1,000 1,000

Japan 8,627 8,384 8,601 9,405 9,000

Kazakhstan e/ 12,500 18,700 r/ 18,100 r/ 19,982 r/ 3/ 20,000

Kenya 492 r/ 440 388 990 3/ 990

Korea, North e/ 5,000 5,000 5,000 5,000 5,000

Korea, Republic of 8/ 14,096 14,852 22,822 25,730 25,000

Kyrgyzstan e/ 1,500 17,400 3/ 22,000 20,000 20,000

Liberia e/ 700 500 800 1,000 1,000

Madagascar e/ 50 50 50 50 50

Malaysia 2,830 4,487 3,394 3,449 4,026 p/ 3/

Mali 4,329 r/ 16,323 r/ 20,562 r/ 23,688 r/ 25,000

Mauritania 189 -- -- -- --

Mexico 24,477 26,001 25,427 23,755 r/ 26,375 3/

Mongolia 6,976 8,451 10,040 10,038 10,000

Morocco e/ 482 3/ 450 450 450 450

Mozambique 67 6 17 20 20

Namibia 2,145 2,417 1,882 2,100 e/ 2,100

New Zealand 11,879 11,359 7,544 r/ 8,577 r/ 8,600

Nicaragua 1,500 e/ 2,562 3,834 2,700 e/ 2,800

Niger e/ 1,000 1,000 1,000 1,000 1,000

Nigeria e/ 6 6 10 10 10

Oman 576 575 575 e/ 575 e/ 575

See footnotes at end of table.
TABLE 8--Continued

GOLD: WORLD MINE PRODUCTION, BY COUNTRY 1/ 2/ 

(Kilograms)

Country 1996 1997 1998 1999 2000 e/

Panama 834 1,202 1,500 e/ 1,500 e/ 1,500

Papua New Guinea 51,119 45,418 64,106 61,293 74,000

Peru 10/ 64,788 79,117 r/ 94,214 r/ 128,486 r/ 132,585 3/

Philippines 30,180 r/ 32,671 r/ 34,038 31,031 r/ 30,000

Poland 598 435 600 e/ 600 e/ 600

Romania e/ 4,000 4,000 4,000 4,000 4,000

Russia 123,300 r/ 124,000 r/ e/ 114,900 r/ 125,870 r/ 140,000

Rwanda 1 r/ 10 r/ 17 r/ 10 r/ 10 3/

Saudi Arabia 7,530 7,260 9,000 9,000 e/ 9,000

Senegal e/ 600 550 600 400 400

Serbia and Montenegro e/ 3,000 3,000 2,684 1,260 1,200

Sierra Leone 11/ 16 20 r/ 15 30 e/ 30

Slovakia 540 458 340 300 300

Solomon Islands e/ 25 25 1,565 r/ 3/ 3,456 r/ 338 3/

South Africa 496,846 491,680 464,319 451,300 r/ 3/ 430,778 3/

Spain 2,832 r/ 1,824 3,295 5,081 r/ 5,000

Sudan e/ 4,500 4,554 r/ 4/ 5,653 r/ 4/ 6,000 6,000

Suriname e/ 300 300 300 300 300 12/

Sweden e/ 6,500 6,100 6,000 6,000 6,000

Taiwan 8/ 11 9 9 r/ 3/ 13 r/ 12

Tajikistan 1,100 e/ 2,550 3,000 2,700 e/ 2,700

Tanzania 318 300 720 6,100 e/ 6,100

Turkey e/ 13/ 1,200 1,000 1,000 1,200 1,200

Uganda 3 r/ 6 r/ 8 r/ 5 r/ 56 3/

United States 326,000 362,000 366,000 341,000 353,000

Uruguay e/ 1,000 2,800 r/ 1,985 3/ 2,400 r/ 2,300

Uzbekistan e/ 72,000 81,700 80,000 3/ 85,000 3/ 85,000

Venezuela 11,719 22,322 6,740 r/ 5,946 r/ 7,332 3/

Vietnam e/ 1,000 1,000 1,500 r/ 1,500 r/ 2,000

Zambia 14/ 119 290 e/ 765 700 r/ e/ 600

Zimbabwe 24,772 24,156 25,175 27,666 r/ 22,070 3/

 Total 2,290,000 r/ 2,450,000 2,510,000 r/ 2,550,000 r/ 2,550,000

e/ Estimated. p/ Preliminary. r/ Revised. -- Zero.

1/ World totals, U.S. data, and estimated data are rounded to no more than three significant digits; may not add to totals shown.

2/ Table includes data available through August 11, 2000.

3/ Reported figure.

4/ Officially reported figures are as follows, in kilograms: Major companies: 1996--41,142; 1997--41,062; 1998--41,000 (estimated); and 1999-2000-

not available. Garimpos 1995--23,473; 1996--18,869; 1997--17,426; 1998--17,500 (estimated); and 1999-2000--not available.

5/ Includes undocumented artisanal production.

6/ Year ending July 7 of that stated.

7/ Undocumented artisanal production.

8/ Refinery output.

9/ Excludes production from so-called people's mines, which may be as much as 18,000 kilograms per year, but includes gold recovered as byproduct

of copper mining.

10/ Includes documented production from placer artisanal production.

11/ Data are based on official exports and do not reflect gold moved through undocumented channels.

12/ Government estimates unreported production as high as 30,000 kilograms.

13/ Indicates byproduct of base metals.

14/ Year beginning April 1 of that stated. Byproduct of copper production by Zambia Consolidated Copper Mines Ltd. only. Some additional artisan

production was reported, but data are insufficient to make reliable estimates.