GOLD—2002 33.1

GOLD

By Earle B. Amey

Domestic survey data and tables were prepared by Mahbood Mahdavi and Wanda G. Wooten, statistical assistants. The 

world production table was prepared by Regina R. Coleman, international data coordinator.

$351 per ounce on December 27. The average for the year 

was, to the nearest dollar, $311 per ounce. The previous year’s 

prices ranged from about $257 per ounce to $294 per ounce and 

averaged $272 per ounce.

The 12-month London gold lease rates in 2002 decreased 

steadily from about 1.1% in January to 0.5% in December. 

Short-term lease rates dropped to new lows near zero by the end 

of the year from the January high of 0.3% (CRU International 

Ltd., 2003).

Total world mine production of gold was about the same as 

the record level reached in 2001. South Africa increased its 

annual output after six successive declines and remained the 

largest gold producer among more than 80 gold-mining nations, 

followed by the United States, Australia, China, and Russia. 

Identified world gold resources at yearend 2002 were estimated 

to be 100 million kilograms (Mkg), of which 15% to 20% were 

byproduct resources; the world reserve base was estimated to 

be 89 Mkg, and reserves were 42.5 Mkg. [This report uses 

the resource and reserve terminology of the U.S. Geological 

Survey (USGS), which is published annually in the USGS’s 

Mineral Commodity Summaries.] South Africa had about 50% 

of the world resources, 46% of the reserve base, and 38% of the 

reserves. The United States had about 9% of the resources, 7% 

of the reserve base, and 13% 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 143 Mkg of gold mined in historic times through 

2002, 121 Mkg of gold remain; about 33 Mkg is held by central 

banks as official stocks and about 88 Mkg is held privately as 

bullion, coin, and jewelry.

In a USGS report on undiscovered gold deposits in the United 

States (U.S. Geological Survey, National Mineral Resource 

Assessment Team, 2000), 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 are hot 

spring gold, epithermal vein, plutonic porphyry gold, sedimenthosted gold, gold-silver-tellurium veins, and low-sulfide goldquartz vein deposits. Total discovered gold resources in the 

United States were estimated to be 27 Mkg, of which identified 

gold resources were estimated to be 15 Mkg and all gold 

produced up to 2002 totaled 12 Mkg. 

Domestic gold mine production in 2002 fell to its lowest level 

since 1991. Primarily, the 11% drop from 2001 output resulted 

from a continuing trend toward consolidation of major gold 

companies. Although annual gold output fell by almost 40,000 

kilograms (kg) in 2002, the value of U.S. gold production 

increased to about $3.0 billion in 2002. Stronger gold prices 

and a weakening U.S. dollar in the global economy toward the 

end of 2002 encouraged an increase in gold output for 2003. 

The United States has been the world’s second largest gold 

producer (behind South Africa) since 1991, when its output 

surpassed that of the Soviet Union for the first time in five 

decades. Nevada accounted for more than 80% of domestic 

production in 2002. The remaining output came from nine other 

States. Gold was produced at 53 lode mines 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. Of 

the gold produced in the United States, 30 mines yielded almost 

99%.

Domestic gold exploration activity dropped on a total dollar 

basis for the fifth consecutive year, declining sharply to $77.2 

million in 2002 from $107.2 million in 2001. The percentage 

of the total world gold exploration budget going to the United 

States decreased to 9.9% in 2002 from 12.6% in 2001; 

worldwide gold exploration expenditures dropped by 8% from 

2001 and 22% from 2000 (diGesu and others, 2003).

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 Providence, 

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

Texas. In 2002, estimated end uses of gold were jewelry and 

arts, 84%; dental, 8%; electrical and electronics, 7%; and other 

1%.

According to the World Gold Council (2003, p. 1), 2002 was 

the 12th consecutive year of unit sales increases for gold jewelry 

in the United States. Total U.S. gold jewelry sales exceeded 

$15.9 billion, up by 2% from sales in 2001.

International trade in refined bullion comprised 79% of U.S. 

gold imports and 72% of gold exports; net exports of bullion 

decreased to 13,000 kg, down by more than 94% from that of 

2001. Canada provided more than 80% of the bullion imported, 

and Switzerland was the destination for more than 51% of the 

bullion exported (tables 4, 6).

The dollar price for gold rose throughout 2002, with the 

average price 14% more than the average gold price in 2001. 

Engelhard Corp.’s daily price of gold in 2002 ranged from a low 

of nearly $279 per troy ounce1 on January 29 to a high of about 

1

In this report, “ounce” refers to troy ounce; 1 kilogram is equivalent to 32.2 

troy ounces.
33.2 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

Production

In this report, domestic mine production data for gold were 

derived from two voluntary USGS 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 

surveyed annually. 

A survey was sent to all 53 lode gold producers believed to 

be operational in 2002; 52 responded. Of the 52 respondents 9 

reported that their mines were closed, and another 2 remained 

on care-and-maintenance status at the end of 2002. The 

individual company production and performance data listed in 

table 3 and cited elsewhere in this report were obtained from 

published sources, such as company annual reports.

Of all gold produced domestically during 2002, 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 alone amounted to less than 2% of the total 

gold produced.

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

Surveys reported that gold output increased to an estimated 

17,400 kg (560,000 ounces) worth $173.5 million in 2002 from 

an 17,100 kg (551,000 ounces) worth $149 million in 2001, or 

an approximate increase in production of 2% and an increase 

in associated value of about 16% (Szumigala and Swainbank, 

2003b). Placer production dropped to 620 kg (20,000 ounces) 

from 700 kg (23,000 ounces) of gold.

The underground Fort Knox gold mine operated by Kinross 

Gold Corp. near Fairbanks began to produce gold in 1997. 

Kinross reported that the mine produced about 12,800 kg 

(411,000 ounces) of gold in 2002, making it the country’s 

seventh largest gold producer (Kinross Gold Corp., 2003a, p. 1).

The Greens Creek Mine on Admiralty Island, off Juneau, 

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

underground trackless mine was milled at the mine site. The 

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

concentrates. Szumigala and Swainbank (2003b, p. 13) reported 

that the mine produced 3,200 kg (103,000 ounces) of gold. 

Greens Creek was a joint venture between Kennecott Greens 

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

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

was placed on care and maintenance. However, the mine 

continued to produce gold as the existing ore heaps were rinsed 

to extract the metal (Szumigala and Swainbank, 2003b, p. 11).

Nova Gold Resources Inc. completed its $10 million 

expenditure to earn a 70% interest in the Donlin Creek project 

from Placer Dome Inc. Measured and indicated resources at 

Donlin Creek were increased to 137 metric tons (t) (4.4 million 

ounces) of gold grading 5.2 grams per metric ton (g/t). Inferred 

resources increased to 193 t (6.2 million ounces) of gold grading 

5.2 g/t. Total resources are estimated to be 712 t (22.9 million 

ounces) of gold grading 2.8 g/t (Szumigala and Swainbank, 

2003a, p. 51).

California.—Gold production in California decreased by 

more than 33% in 2002 (table 2). Glamis Gold Ltd., through 

its wholly owned Glamis Rand Mining Co., produced 2,100 kg 

(67,000 ounces) of gold at its Rand Mine, California’s largest 

gold mine, near Randsburg. Mining operations will cease in 

2003. Glamis also closed its Picacho gold mine in southern 

California after more than 20 years of operation (Glamis 

Gold Ltd., 2003, p. 1). In northern California, Barrick Gold 

Corporation’s McLaughlin Mine is no longer the State’s largest 

gold producer; mining ceased in 1996, but gold continued to 

be processed from low-grade ore that was stockpiled during 

the life of the mine until the third quarter of 2002. The third 

largest gold producer, the Briggs Mine in southern California, 

is owned by Canyon Resources Corp. Most of the ore mined 

was produced from the Gold Tooth pit. Lesser amounts of ore 

was mined from underground workings in the eastern section at 

the North Briggs pit. Total gold produced was 1,800 kg (57,000 

ounces) (Canyon Resources Corp., 2003).

Newmont Gold Company’s Mesquite Mine, near Brawley, 

ceased mining operations in the second quarter of 2001 

following the depletion of the main ore body. Production from 

residual heap leaching is expected to continue another year. A 

permitting process for expansion is underway.

Near the Nevada-California State line, in San Bernardino 

County, CA, the Castle Mountain Mine produced an estimated 

1,750 kg (56,000 ounces) of gold. Residual gold production 

is expected to continue into 2004 as a result of continued heap 

leaching (MK Gold Company, 2003, p. 1). Castle Mountain was 

a joint venture between Viceroy Resource Corp. (75%) and MK 

Gold Company (25%).

Colorado.—Gold production in the State was 5% higher with 

an increase in production from the Nation’s ninth largest gold 

mine, the Cresson Mine, in the Cripple Creek District of Teller 

County. AngloGold Ltd. (2003, p. 14) reported that this open pit 

mining operation produced 7,000 kg (225,000 ounces) of gold in 

2002. An expansion of the Cresson Mine was completed late in 

2002, which is expected to raise its annual gold output to about 

11,200 kg (360,000 ounces) and extend the mine’s life until 

2012 (Mining Journal, 2002a).

A Colorado State Senate committee voted 5 to 2 to postpone 

indefinitely consideration of a bill that would have banned gold 

and silver mines from using cyanide in processing ore. The 

proposed bill had been amended to exclude current mining 

operations (Keller and Carroll, 2003, p. 61).

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

near Salmon in 2001 left Idaho with no active gold mines. 

However, leaching of ore already extracted in 2001 continued in 

2002. Beartrack produced more than 270 kg (8,700 ounces) of 

gold, less than one-half the output of 2001. Leaching of crushed 

ore is expected to continue to produce gold, with declining 

yields, for another year (Meridian Gold Inc., 2003, p. 7).

Montana.—Exploration for gold was strong during the early 

part of 2002 owing to increasing gold prices. By July, however, 

the rush was over. Gold prices stagnated short of the threshold 

levels needed to sustain interest and investment dollars for 

exploration or development in the State (McCulloch, 2003, p. 

80).

Placer Dome Inc.’s wholly owned Golden Sunlight Mine 

near Whitehall was Montana’s largest gold-producing mine 

with 3,500 kg (111,800 ounces) of gold in 2002, about 43% less 

than in 2001. Mining of the open pit was completed in August. 
GOLD—2002 33.3

Future gold production will come from the processing of lowgrade ore stockpiles, which should be completed in 2003 (Placer 

Dome Inc., 2003, p. 8).

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 State. Primary gold 

production decreased to 239,500 kg (7.7 million ounces).

Newmont Mining Company, the Nation’s largest gold mining 

company in 2002, mined 84,500 kg (2.7 million ounces) of 

gold from 14 open pit operations, 5 underground mines, and 17 

processing facilities in Elko, Eureka, Humboldt, and Pershing 

Counties (Newmont Gold Company, 2003, p. 18). Newmont 

reopened its Mule Canyon Mine in April and operated it for 

about 9 months until the ore was mined out. Newmont also 

mined gold in several small open pits at the Trenton Canyon 

Mine and also began to develop major projects, such as the 

Leeville underground mine (Platts Metals Week, 2002a).

Barrick was the Nation’s second largest gold mining 

company in 2002 and reportedly recovered 43,900 kg (1.4 

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 19,900 kg (640,000 ounces) of gold; it 

was the Nation’s largest underground gold mine (Barrick Gold 

Corporation, 2003, p. 5). The mine had an underground cooling 

system to keep temperatures around 27o C (80o F) even though 

the temperature of the surrounding rock can be as much as 60o C 

(140o 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 closed its Ruby Hill 

gold mine near Eureka in October; the open pit mine, which was 

opened in 1997, has reached the end of its reserve life (Platts 

Metals Week, 2002d).

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

produced about 10,500 kg (337,000 ounces) of gold at its Jerritt 

Canyon Mine, the Nation’s eighth largest gold mine (AngloGold 

Ltd., 2003, p. 14; Meridian Gold Inc., 2003, p. 3). Other gold 

mines in Humboldt County included the Hycroft (formerly the 

Crofoot/Lewis) and 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 

McCoy/Cove gold and silver mine, which completed production 

in March, and is in full reclamation mode. In June, Echo Bay 

Mines Ltd. entered into a no-cash sale of the entire McCoy/

Cove complex to Newmont that includes all reclamation and 

closure obligations (Echo Bay Mines Ltd., 2002, p. 3). The 

country’s third largest gold mine, the Cortez Mine in Lander 

County and owned by Placer Dome (60%) and Kennecott 

Minerals Company (40%), produced 33,600 kg (1.1 million 

ounces) (Placer Dome Inc., 2003, p. 8).

At Round Mountain, about 95 kilometers north of Tonopah, 

the Round Mountain Gold Corporation mine of Kinross Gold 

Corp. (50%) and Barrick (50%) produced about 23,500 kg 

(755,000 ounces) of gold during the year (Kinross Gold Corp., 

2003b, p. 22). The property is the fourth largest U.S. gold mine.

Newmont continued to develop the Rossi-Storm Deposit at 

the Midas Mine, which poured its first gold on December 9, 

1998. Midas (previously named Ken Snyder) produced about 

7,300 kg (233,000 ounces) of gold (Driesner and Coyner, 2003, 

p. 15).

Exploration also continued in the State. Newmont and 

Barrick pursued their interests within the major districts along 

the Carlin Trend. Newmont, Glamis Gold, Cordex, and others 

also were involved in the Battle Mountain and Iron Point 

districts of Lander and Humboldt Counties. Placer Dome 

further examined its Crossroads and Pediment deposits in the 

Bullion and Cortez Districts of Lander and Eureka Counties. 

Some excitement was generated by Midway Gold’s highgrade vein discovery in the Rye Patch District of Nye County. 

Newmont is exploring the property (Tingley and Castor, 2003, 

p. 83).

South Dakota.—Gold production decreased by about 

68% compared with that of 2001. Even though Barrick’s 

124-year-old Homestake Mine at Lead was shut down at the 

end of 2001, it will produce about 7,500 kg (240,000 ounces) 

of additional gold before closure. Barrick is expected to spend 

more than $66 million during 8 years of final reclamation and 

remediation (American Metal Market, 2000).

Goldcorp Inc. operated an open pit gold mine, the Wharf 

Mine, near Lead, which produced about 2,550 kg (82,000 

ounces) of gold (Goldcorp Inc., 2003, p. 2).

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

operated by Kennecott Utah Copper Corp., produced about 

12,800 kg (412,000 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 sixth largest gold producer in 2002. Kennecott 

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

and heap–leaching operation that produced 2,330 kg (75,000 

ounces) of gold (Rio Tinto Ltd., 2003, p. 4).

Washington.—Kinross’ Kettle River underground mine, in 

the northeastern part of the State, produced 950 kg (30,600 

ounces) of gold in its 12th year of production (Kinross Gold 

Corp., 2003b, p. 26).

World Review

World gold mine production decreased about 2% from the 

2001 output. Fairly steep production drops from mines in 

the United States and Indonesia were not counteracted by an 

increase in Peru. According to its annual review of world gold 

supply and demand, Gold Fields Mineral Services Limited 

calculated that the total global supply of gold in 2002 was 3.98 

Mkg (128 million ounces) compared with the previous year’s 

total supply of 3.92 Mkg (126 million ounces) (Klapwijk and 

others, 2003, p. 7). Gold Fields Mineral Services also reported 

a decrease in mine production (1.4%); increases in official 

sector sales (5.1%); no net producer hedging; and no implied net 

disinvestment for sales of bars and coins by private investors. 

Old gold scrap levels increased sharply by almost 18% in 2002 

after a 16% rise in 2001.

On the demand side, Gold Fields Mineral Services reported 

that total fabrication was 347,000 kg (11 million ounces), less 

than its 2001 level. Jewelry fabrication decreased by 349,000 
33.4 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

kg (11.2 million ounces) to its lowest level since 1994 owing 

mainly to lower demand, particularly in India and Italy, the 

Middle East, and East Asia. Bar hoarding was up 2%, largely 

as a result of higher Japanese demand. Coin fabrication was up 

22% largely owing to the doubling of new Canadian coins. The 

amount of gold used in the electronics market, which fell 28% 

in 2001 with lower demand for computers and other electronic 

products, rose slightly to 210,000 kg (6.75 million ounces). 

Many countries in Asia, particularly Japan, had sizable gains in 

their electronics markets, but these gains were erased by losses 

in Europe (Klapwijk and others, 2003, p. 10).

With regard to gold exploration, the Metals Economics 

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

annual survey of exploration budgets for 724 companies that 

$784 million (45.2%) of the 2002 world exploration budget total 

for nonferrous metals was focused on gold, with 475 companies 

reporting active gold programs. The expenditures for gold 

were $66 million less than the $849 million (42.5% of the total) 

reported for gold exploration in 2001. As in the preceding 

8 years, Latin America received the highest expenditure for 

gold C$207.6 million (26.5% of the reported 2002 world gold 

exploration dollars) (diGesu and others, 2003).

Australia.—Australian gold mine production dropped by 

about 4% from 2001. However, Australia retained its position 

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

273,000 kg (8.8 million ounces) of gold mined in 2002, Western 

Australia, Queensland, and New South Wales accounted for 

about 70%, 10%, and 8%, respectively (Australian Bureau of 

Agricultural and Resource Economics, 2003, p. 15); Western 

Australia’s production was derived principally from mining 

operations near Kalgoorlie. Other Australian gold-producing 

States, in descending order of output, were Northern Territory, 

Tasmania, Victoria, and South Australia.

Higher costs were reported at a number of gold mining 

operations. At the Paddington Mine, costs were up 26% owing, 

in part, to the increased processing costs associated with ore 

from the new White Foil deposit. In addition, a crown pillar 

failed at Sons of Gwalia’s underground Gwalia Mine that 

caused a shortfall in production and an increase in costs of 27%. 

Furthermore, lower-than-expected ore grades in the center pit of 

the Marvel Loch Mine contributed to a 15% rise in cash costs. 

Finally, the Super Pit Mine, Australia’s largest gold producer, 

reported costs 4% higher owing to lower recovery rates and 

higher unit mining and processing costs. Overall, the weighted 

average cash cost for Australian gold mines increased to $187 

per ounce in 2002 from $175 per ounce in 2001 (Klapwijk and 

others, 2003, p. 41).

Directors at AurionGold Ltd. agreed to a $740 million 

takeover acquisition by Placer Dome Inc. Placer Dome had 

extended its offer many times while AurionGold searched 

unsuccessfully for a rival suitor. The takeover made Placer 

Dome the world’s fifth largest gold mining company (American 

Metal Market, 2002a). Australia’s gold industry is 70% 

owned by foreign mining companies, following Placer Dome’s 

takeover of AurionGold. Overseas control of the Australian 

gold industry rose from 20% (5 years ago) to 30% by the end 

of 2000. In the wake of further takeovers, foreign ownership 

rose to 60% by early 2002. Latest gold production data show 

that North American companies control about 48%, with a split 

of 25% Canadian and 23% United States. South African-based 

companies account for 20%, and European groups have 2% 

(Platts Metals Week, 2002b).

Thunderbox Mine in Western Australia poured its first gold 

bar. The mine, which is a joint venture [LionOre Mining 

International Ltd. (60%) and by Dalrymple Resources NL 

(40%)] is expected to produce 6,800 kg (220,000 ounces) of 

gold in 2003 (Mining Journal, 2002b).

Brazil.—During 2002, gold production declined by 5% to 

50,500 kg (1.6 million ounces). A moderate improvement came 

from the output of the informal noncorporate mining sector, the 

garimpeiros. The largest decline in the corporate sector came 

from the Igarape Bahia Operation, which was closed in June and 

reported about a 5,000-kg (160,000-ounce) drop in gold output 

(Klapwijk and others, 2003, p. 37).

Canada.—Canada dropped to the seventh in the ranking of 

world gold producers, because its output decreased by more than 

6% to 149,000 kg (4.79 million ounces). Canada’s principal 

gold-producing Provinces were Ontario (51.5%), Quebec 

(22%), British Columbia (15%), and Manitoba (4%). Gold 

was also produced in Alberta, New Brunswick, Newfoundland, 

Nunavut, Saskatchewan, the Northwest Territories, and Yukon 

Territory. Despite a good performance from some of the largest 

operations, mine closures and lower grades at maturing mines 

combined continued to drive down full-year gold production. 

The Red Lake Mine, Canada’s largest, reported a 4% increase 

in gold output to more than 16,000 kg (514,000 ounces). 

Additional production came from the Eskay Creek Mine, where 

higher mining and processing rates yielded a 12% rise in gold 

production to just more than 11,000 kg (354,000 ounces), and 

the LaRhonde Mine, where output was also up 11% to more 

than 8,000 kg (257,000 ounces) (Klapwijk and others, 2003, p. 

36).

Chile.—Gold output in Chile decreased for the second 

consecutive year to 40,000 kg (1.3 million ounces), an 6% 

decline owing to continued mine closures. The closures 

included El Indio Mine, which ceased operation in the middle 

of 2002, and the suspension of activities at the Refugio Mine in 

2001. In addition, there was lower by product output at stateowned Codeloc’s mining units (Klapwijk and others, 2003, p. 

37).

China.—The Chinese produced an estimated 190,000 kg 

(6.1 million ounces) of gold in 2002, up 2.5% from the 185,000 

kg (5.95 million ounces) of gold produced in 2001 (Antaike 

Precious & Minor Metals Monthly, 2003).

The Shanghai Gold Exchange (SGE) opened trading activities 

late in 2002 and thereby ended more than one-half century of 

central bank dominance over China’s gold industry. Initially, 

trade was limited to physical gold. China designated 42 

warehouses across the country for gold deliveries, with the 

exchange charging a small fee equal to 0.06% of the transaction 

value. The SGE has 108 founding members composed of 13 

commercial banks, 24 gold firms and mines, 61 gold end users, 

8 refineries, and 2 coin mints (American Metal Market, 2002b).

India.—India eased the importation of gold and silver jewelry 

by granting a general license for imports to Indian citizens. 

Before March 31, only a limited number of individuals were 

licensed to import gold or silver jewelry (Platts Metals Week, 

2002c).
GOLD—2002 33.5

Indonesia.—Gold output dropped to 135,000 kg (4.34 million 

ounces) in 2002. Lower ore grades contributed to decreased 

output from the Grasberg Mine. The Gosowong and Minahasa 

Mines ceased mining late in 2001 but continued to process 

lower grade gold stockpiles (Klapwijk and others, 2003, p. 38).

Mexico.—Gold production was down to 20,600 kg (662,000 

ounces) in 2002. This was despite the fact that gold production 

at La Herradura, Mexico’s largest gold mine, rose to almost 

4,800 kg (154,000 ounces) (Klapwijk and others, 2003, p. 37).

Papua New Guinea.—Gold production in Papua New Guinea 

dropped slightly to 65,200 kg (2.1 million ounces). Lower gold 

output from the Porgera Mine was a result of vandalism that 

damaged power line poles in the vicinity of the open pit mine 

(Klapwijk and others, 2003, p. 38).

Peru.—Latin America’s largest gold producer reported an 

impressive 14% increase to reach 157,000 kg (5.05 million 

ounces) of gold output. Peru’s largest gold mine, Yanacocha, 

contributed to the gain with 71,000 kg (2.28 million ounces) 

of gold, which was 20% more than in 2001. The increase 

in gold output was primarily the result of higher grades and 

mining rates at the mine and extra output from the first full-year 

contribution from the La Quinua open pit deposit. Decreased 

gold production was reported at the Pierina Mine, which was 

only down by 1% to 28,000 kg (900,000 ounces) (Klapwijk and 

others, 2003, p. 36).

Russia.—Production in Russia grew by almost 4% to 158,000 

kg (5.08 million ounces) of gold, moving the country up to the 

fifth position among the top gold-producing countries. Much of 

the increase can be attributed to higher levels of financing that 

commercial banks have made to the gold mining industry. In 

2002, 48 commercial banks concluded contracts with producers 

to buy 178,000 kg (5.7 million ounces) of gold, which was 

50,000 kg (1.6 million ounces) more than in 2001. Expansions 

were completed at the Olimpiada Mine, which added more than 

9,000 kg (300,000 ounces) of gold. In addition, the Julietta 

Mine finished its first partial year of operation by producing 

more than 3,000 kg (100,000 ounces) of gold (Klapwijk and 

others, 2003, p. 40).

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

leading gold-producing nation, rose for the first time since 

1993; however, with the increase of gold production in Russia, 

South Africa’s share fell to roughly 15% in 2002 from 30% 

of world gold output in 1993. Most gold mines maintained or 

marginally improved output, with an additional boost from the 

Target Mine, the country’s first new underground gold mine 

in 20 years. In addition, there was higher gold production at 

the Deep South Mine where expansion plans progressed well. 

Gold production at the Mponeng Mine increased by about 3,000 

kg (100,000 ounces) to 15,000 kg (500,000 ounces) owing to 

more production flexibility, following the commission of four 

additional raise lines. Higher ore grades at the Beatrix and 

Driefontein Mines increased gold output by more than 1,000 kg 

(32,000 ounces).

Some corporate deals concluded in 2002 were motivated, in 

part, by the introduction of South Africa’s new Mineral Bill, 

which encouraged black ownership. For example, in the Free 

State district, a number of assets changed hands and at the center 

of the activity was the black empowerment group, African 

Rainbow Minerals (ARM). ARM and Harmony Gold Mining 

Co. Ltd. took control of AngloGold Ltd.’s Free State assests, 

followed by further consolidation in the Free State district when 

they also bought Gold Field Ltd.’s St. Helena Mine (Klapwijk 

and others, 2003, p. 33).

The tonnage and grade of ore milled during 2002 by mines 

comprising the membership of the Chamber of Mines of South 

Africa amounted to almost 81.5 billion kilograms at a grade of 

4.27 g/t of gold ore; 83 billion kilograms at a grade of 4.13 g/t 

was milled by Chamber members in 2001.

Of the top 15 gold-producing companies in the world 

during 2002, 5 were South African. AngloGold, listed on the 

Australian Stock Exchange only 3 years earlier, remained the 

leading gold-producing company in the world. Gold Fields was 

fourth in the world. The other three companies were Harmony 

Gold (6th), ARM (11th), and Durban Roodepoort Deep Limited 

(13th). Durban Roodepoort Deep also was listed on the 

Australian Stock Exchange just 3 years before in March 1999 

(Klapwijk and others, 2003, p. 3).

Uzbekistan.—Gold production in Uzbekistan rose slightly to 

90,000 kg (2.9 million ounces). In its 35th year of operation, 

the giant open pit, state-owned Muruntau Mine in the Kyzyl 

Kum Desert, reported gold production of about 58,000 kg (1.9 

million ounces) of gold in 2002, up by 2% from 2001. Gold 

output at the Zarafshan-Newmont Gold joint venture (which 

processes high-grade gold tailings from Muruntau) also reported 

an increase in gold recovered, primarily due to higher than 

expected leach ore grade (Klapwijk and others, 2003, p. 40).

Outlook

Consolidation will continue in the gold industry worldwide as 

gold producers seek to secure their assets, cut costs, and exploit 

higher gold prices. The U.S. gold industry, which has been 

closing its gold mines (10 in 1999, 12 in 2000, 11 in 2001, and 

9 in 2002), also will continue to consolidate. With sustained 

higher gold prices in 2003, world exploration spending for 

new gold resources is expected to stabilize in 2003 after 

several consecutive years of decreases. A modest increase in 

exploration may take place in 2004, with most of the increase in 

Latin America. 

References Cited

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

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

American Metal Market, 2002a, AurionGold directors accept Placer Dome 

bid: American Metal Market, v. 110, no. 90-2, October 15, p. 4.

American Metal Market, 2002b, Trade on Shanghai Gold Exchange kicks off: 

American Metal Market, v. 110, no. 92-4, October 31, p. 4.

AngloGold Ltd., 2003, Annual report 2002: Johannesburg, South Africa, 

AngloGold Ltd., January 31, 18 p.

Antaike Precious & Minor Metals Monthly, 2003, China targets 200 t gold 

output in 2003: Antaike Precious & Minor Metals Monthly, no. 38, 

March, p. 6.

Australian Bureau of Agricultural and Resource Economics, 2003, Australian 

mineral statistics—Fourth quarter 2002: Canberra, New South Wales, 

Australia, Australian Bureau of Agricultural and Resource Economics, 32 p.

Barrick Gold Corporation, 2003, Barrick earns $54 million or $0.10 per share 

in the fourth quarter: Toronto, Ontario, Canada, Barrick Gold Corporation 

press release, February 12, 40 p.

Canyon Resources Corp., 2003, Canyon Resources pays off bank debt, 

announces Briggs Mine 2002 results, extends term of warrants: Golden, 

CO, Canyon Resources Corp. press release, March 11, 2 p. 
33.6 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

CRU International Ltd., 2003, Precious metals market outlook: London, 

United Kingdom, CRU International Ltd., March 10, 60 p.

diGesu, Dominique, Bearmish, Marilyn, Goulden, Jason, Hadley, John, 

Haynes, Shelley, Lowery, Jim, Slaunwhite, Janice, and Selva, Sandra, 

2003, Overview of worldwide exploration budgets (part II): Metals 

Economics Group Strategic Report, v. 16, no. 1, January-February, p. 9-17.

Driesner, Doug, and Coyner, Alan, 2003, Major mines of Nevada 2002: 

Reno, NV, Nevada Bureau of Mines and Geology, Special Publication 

P-14, 28 p.

Echo Bay Mines Ltd., 2002, Echo Bay Mines announces second quarter 2002 

results: Englewood, CO, Echo Bay Mines Ltd. press release, July 30, 14 p.

Glamis Gold Ltd., 2003, Glamis Gold achieves record operating results for 

2002 and expands Marlin Resource: Reno, NV, Glamis Gold Ltd. news 

release, January 16, 3 p. 

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

Gold News, no. 6, November-December, p. 2.

Goldcorp Inc., 2003, Another wonderful year: Toronto, Ontario, Canada, 

Goldcorp Inc. news release, February 11, 24 p.

Keller, J.W, and Carroll, C.J., 2003, Colorado: Mining Engineering, v. 55, 

no. 5, May, p. 60-65.

Kinross Gold Corp., 2003a, Kinross announces operating results for 2002 and 

increased ownership of Omolon: Toronto, Ontario, Canada, Kinross Gold 

Corp. news release, February 19, 2 p.

Kinross Gold Corp., 2003b, Kinross Gold Corporation 2002 annual report: 

Toronto, Ontario, Canada, Kinross Gold Corp., January 11, 112 p.

Klapwijk, Philip, Walker, Paul, Newman, Philip, Alway, Bruce, Meader, 

Neil, Spenser, Tim, and Atkinson, Ben, 2003, Gold 2003: London, United 

Kingdom, Gold Fields Mineral Services Limited, April, 113 p.

McCulloch, R.B., 2003, Montana: Mining Engineering, v. 55, no. 5, May, 

p. 80-81.

Meridian Gold Inc., 2003, Meridian Gold reports fourth quarter 2002 results: 

Toronto, Ontario, Canada, Meridian Gold Inc. press release, February 24, 

12 p.

MK Gold Company, 2003, MK Gold Company reports 2002 year end results: 

Salt Lake City, Utah, MK Gold Company press release, March 27, p. 3.

Mining Journal, 2002a, Cripple Creek & Victor expansion complete: Mining 

Journal, v. 339, no. 8706, October 11, p. 245.

Mining Journal, 2002b, Thunderbox pours first gold: Mining Journal, v. 339, 

no. 8712, November 22, p. 367.

Newmont Gold Company, 2003, Form 10-K: Securities and Exchange 

Commission, 198 p. 

Placer Dome Inc., 2003, Placer Dome reports profitable 2002: Vancouver, 

British Columbia, Canada, Placer Dome Inc. press release, February 19, 

25 p.

Platts Metals Week, 2002a, Firming gold price helps revamp Nevada gold 

operations: Platts Metals Week, v. 73, no. 25, June 24, p. 2.

Platts Metals Week, 2002b, Foreign ownership of Australian gold sector 

reaches 70%: Platts Metals Week, v. 73, no. 49, December 9, p. 13.

Platts Metals Week, 2002c, India eases jewelry imports: Platts Metals Week, 

v. 73, no. 14, April 8, p. 9.

Platts Metals Week, 2002d, Ruby Hill gold mine to close in October: Platts 

Metals Week, v. 73, no. 29, July 22, p. 15.

Rio Tinto Ltd., 2003, Rio Tinto quarterly production report for the quarter 

ending 31 December 2002: London, United Kingdom, Rio Tinto Ltd. 

news release, February 3, 21 p.

Szumigala, D.J., and Swainbank, R.C., 2003a, Alaska: Mining Engineering, 

v. 55, no. 5, May, p. 49-53.

Szumigala, D.J., and Swainbank, R.C., 2003b, Alaska’s mineral industry 

2002: Alaska Division of Geology and Geophysics Surveys Information 

Circular 49, March, 15 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 Castor, S.B., 2003, Nevada: Mining Engineering, v. 55, 

 no. 5, May, p. 82-85.

U.S. Geological Survey, National Mineral Resource Assessment Team, 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.

World Gold Council, 2003, The national retail report—Gold jewelry sales 

2002: 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. 

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 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.

Principles of a Resource/Reserve Classification for Minerals. 

Circular 831, 1980.

Other

Canadian Mines Handbook 2001-02.

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 Record, The, weekly.

Northern Miner, The, weekly. 

Randol Mining Directory 1999.

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

of Mines Special Publication SP 24–94, 1994.
GOLD—2002 33.7

1998 1999 2000 2001 2002

United States:

Mine production kilograms 366,000 341,000 353,000 335,000 298,000

Value thousands $3,480,000 $3,070,000 $3,180,000 $2,940,000 $2,980,000

Gold recovered by cyanidation:

Extracted in vats, tanks, closed containers2 kilograms 242,000 190,000 142,000 117,000 99,600

Leached in open heaps or dumps

3 do. 99,300 130,000 194,000 195,000 177,000

Refinery production:

Concentrates and doré do. 277,000 265,000 197,000 191,000 196,000

Recycled materials (new and old scrap) do. 163,000 143,000 81,600 82,700 78,100

Exports, refined do. 430,000 435,000 440,000 395,000 185,000

Imports for consumption, refined do. 257,000 196,000 184,000 161,000 172,000

Net deliveries from foreign stocks in Federal Reserve Bank of

New York do. 310,000 303,000 356,000 259,000 40,000

Stocks, December 31:

Industry

4 do. 16,600 14,700 9,300 3,700 3,500

Commodity Exchange (Comex)

5 do. 25,200 37,900 52,900 38,000 r 63,900

Department of the Treasury metric tons 8,130 8,170 8,140 8,120 8,140

Volume of U.S. Gold Futures Trading

6 do. 28,600 29,800 20,600 21,100 28,000

Department of the Treasury:

7

American Eagle gold coin kilograms 49,200 78,200 13,900 10,700 12,500

Other numismatic gold coins do. 86 430 330 250 370

Consumption in industry and the arts do. 219,000 245,000 183,000 179,000 163,000

Apparent demand, refined8 do. 667,000 399,000 337,000 257,000 264,000

Price, average per troy ounce

9 $295.24 $279.91 $280.10 $272.22 $311.33

Employment, mine and mill only

10 13,400 10,300 10,400 9,500 7,600

World:

Production, mine kilograms 2,500,000 2,570,000 r 2,590,000 r 2,600,000 r 2,550,000 e

Official bullion reserves

11 metric tons 33,600 33,500 33,000 33,000 32,200

TABLE 1

SALIENT GOLD STATISTICS 1

r

Revised.

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

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

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.

10Data from Mine Safety and Health Administration.

State 2001 2002

Alaska2 16,700 W

Arizona W W

California 13,800 9,180

Idaho W W

Montana W W

Nevada 253,000 240,000

South Dakota W W

Washington 1,700 W

Other States3 49,600 48,500

Total 335,000 298,000

TABLE 2

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

(Kilograms)

2

Production data collected by the State.

3

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

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.
33.8 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

Rank Mine County and State Operator Kilograms

1 Newmont Nevada Operations2 Various counties, NV Newmont Gold Company 77,800

2 Betze-Post/Goldstrike Eureka, NV Barrick Gold Corporation 43,900

3 Cortez Lander, NV Placer Dome Inc. 33,600

4 Round Mountain Nye, NV Round Mountain Gold Corporation 23,500

5 Meikle/Goldstrike Elko, NV Barrick Gold Corporation 19,900

6 Bingham Canyon3 Salt Lake, UT Kennecott Utah Copper Corp. 12,800

7 Fort Knox

4 Fairbanks, AK Fairbanks Gold Mining Inc. 12,800

8 Jerritt Canyon Elko, NV Independence Mining Company, Inc. 10,500

9 Cresson Teller, CO Cripple Creek & Victor Gold Mining Co. 7,000

10 Bald Mountain White Pine, NV Placer Dome Inc. 5,360

11 Golden Sunlight Jefferson, MT do. 3,480

12 Greens Creek Juneau, AK Kennecott Greens Creek Mining Co. 3,190

13 Denton-Rawhide Mineral, NV Kennecott Rawhide Mining Co. 2,590

14 Marigold Humboldt, NV Glamis Gold Ltd. 2,590

15 Wharf Lawrence, SD Wharf Resources, Ltd. 2,550

16 Barney's Canyon Salt Lake, UT Kennecott Barney's Canyon Mining Co. 2,330

17 Rochester Pershing, NV Coeur d'Alene Mines Corp. 2,240

18 Rand Kern, CA Glamis Rand Mining Co. 2,080

19 Briggs Inyo, CA Canyon Resources Corp. 1,770

20 Castle Mountain San Bernardino, CA Viceroy Resources Corporation 1,750

21 Getchell Humboldt, NV Placer Dome Inc. 1,740

22 Kettle River Ferry, WA Echo Bay Mines Limited 953

23 Illinois Creek

5 Yukon-Koyukuk, AK American Reclamation Group LLC 824

(6) Florida Canyon Pershing, NV Florida Canyon Mining, Inc. W

(6) McCoy/Cove Lander, NV Echo Bay Mines Limited W

(6) McLaughlin Napa, Yolo, CA Barrick Gold Corporation W

(6) Mesquite Imperial, CA Newmont Gold Company W

(6) Midas7 Elko, NV Euro-Nevada Mining Co. W

(6) Montana Tunnels Jefferson, MT Montana Tunnels Mining, Inc. W

(6) Ruby Hill Eureka, NV Homestake Mining Company W

TABLE 3

LEADING GOLD-PRODUCING MINES IN THE UNITED STATES IN 2002, IN ORDER OF OUTPUT1

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 99% of the U.S. gold production

in 2002.

2

Includes Battle Mountain Gold, Carlin Mines Complex, Lone Tree, Twin Creeks, and Reona. 3

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

Mine production refers to gold equivalent produced.

5

Estimated from State annual report.

6

Production at Florida Canyon, McCoy/Cove, McLaughlin, Mesquite, Midas, Montana Tunnels, and Ruby Hill are withheld; 

mines are among the top 30 gold-producing mines in the United States, but are not shown in rank order to avoid disclosing 

company propriety data.

7

Formerly Ken Snyder.

Sources: Company annual reports, Securities and Exchange Commission's 10K and 6K reports, and company news releases.
GOLD—2002 33.9

Quantity Value Quantity Value Quantity Value Quantity Value

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

2001 362 $4,680 93,900 $804,000 395,000 $3,300,000 489,000 $4,110,000

2002:

Argentina -- -- -- -- 17 157 17 157

Armenia -- -- -- -- 210 1,950 210 1,950

Australia -- -- -- -- 3 20 3 20

Austria -- -- -- -- 21 220 21 220

Bahamas, The -- -- -- -- 97 1,600 97 1,600

Belgium -- -- -- -- 10 100 10 100

Bolivia -- -- -- -- 106 1,090 106 1,090

Brazil -- -- -- -- 617 5,910 617 5,910

Canada 4 41 199 1,300 768 6,380 971 7,720

China -- -- -- -- 25 200 25 200

Colombia -- -- -- -- 2 18 2 18

Costa Rica -- -- -- -- 207 2,020 207 2,020

Dominican Republic 519 3,700 3 13 7 49 528 3,770

France -- -- -- -- 17 189 17 189

Germany (5) 4 -- -- 20 212 21 216

Guatemala -- -- -- -- 312 3,120 312 3,120

Hong Kong 15 74 -- -- 30 282 45 356

India 5 57 -- -- 4 40 9 97

Ireland -- -- 1 3 1 17 2 20

Israel 1 10 5 25 2 30 8 66

Italy -- -- 1 10 1 7 1 17

Japan (5) 3 28 219 23 205 51 426

Korea, Republic of -- -- -- -- 1,550 15,400 1,550 15,400

Liechtenstein -- -- -- -- 6 40 6 40

Luxembourg -- -- -- -- 4,980 49,600 4,980 49,600

Malaysia -- -- 16 144 419 4,250 435 4,390

Mexico -- -- 5 27 9,700 95,900 9,700 95,900

Netherlands (5) 3 -- -- -- -- (5) 3

Pakistan -- -- -- -- 59 567 59 567

Peru -- -- -- -- 3,210 30,300 3,210 30,300

Philippines -- -- 3 13 (5) 4 3 17

Romania -- -- -- -- 1 8 1 8

Saudi Arabia -- -- -- -- 1 13 1 13

Singapore -- -- 9 44 15 125 24 169

South Africa -- -- -- -- 39 216 39 216

Spain -- -- 7 34 -- -- 7 34

Sri Lanka -- -- -- -- 1 6 1 6

Sweden -- -- 11 42 8 81 19 123

Switzerland -- -- 71,400 718,000 93,600 930,000 165,000 1,650,000

Taiwan -- -- 3 14 37 314 40 329

Thailand -- -- -- -- 1 9 1 9

Trinidad and Tobago 3 37 -- -- 16 189 20 226

Turkey -- -- -- -- 298 2,750 298 2,750

United Arab Emirates 7 80 -- -- 2,750 27,100 2,760 27,200

United Kingdom 1 8 8 43 65,600 645,000 65,600 645,000

Vietnam -- -- -- -- 50 559 50 559

Total 556 4,020 71,700 720,000 185,000 1,830,000 257,000 2,550,000

-- 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.

TABLE 4

U.S. EXPORTS OF GOLD, BY COUNTRY1, 2

Ores and concentrates3 Doré and precipitates Refined bullion4 Total

Source: U.S. Census Bureau.

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.
33.10 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

Quantity Value Quantity Value Quantity Value

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

2001 40,300 $468,000 11,600 $127,000 490,000 $13,000

2002:

Antigua and Barbuda 1 10 -- -- -- --

Armenia -- -- 163 1,570 -- --

Aruba 1 10 -- -- -- --

Australia 4 43 (2) 4 1,900 40

Austria -- -- -- -- 17 8

Bahamas, The 4 39 -- -- -- --

Belgium 3,970 5,950 -- -- -- --

Bolivia (2) 3 -- -- -- --

Botswana 1 11 -- -- -- --

Brazil -- -- -- -- 265 8

British Virgin Islands 1 14 -- -- -- --

Cambodia 50 29 -- -- 18,600 216

Canada 28,000 325,000 26 217 167,000 4,070

Cayman Islands 3 39 -- -- 720 5

Chile -- -- -- -- 90 3

China 1 40 5 65 21,400 127

Colombia -- -- -- -- 25,500 151

Costa Rica (2) 3 -- -- -- --

Dominican Republic 22 273 5 24 22,300 894

France -- -- 9 76 854 15

Germany 3,660 15,500 101 1,190 3,600 59

Guatemala 1,360 8,070 53 603 -- --

Hong Kong 2 13 24 318 9,950 230

Hungary -- -- -- -- 5 5

India -- -- 5 36 -- --

Indonesia -- -- -- -- 160 3

Ireland -- -- (2) 4 379 7

Israel 5 41 11 65 77,500 1,030

Italy 21 199 2 15 -- --

Jamaica 16 141 -- -- -- --

Japan 34 393 14 170 364 24

Korea, Republic of -- -- 3 28 14 52

Malaysia -- -- -- -- 890 16

Mexico 4 36 6,460 70,100 1,380 25

Morocco -- -- 4 32 -- --

Netherlands -- -- -- -- 20,500 533

Netherlands Antilles 12 138 -- -- -- --

Peru -- -- 1,110 11,700 -- --

Romania -- -- -- -- 18 10

Saudi Arabia 50 375 -- -- -- --

Singapore 1 15 61 630 8,240 148

South Africa -- -- 13 93 -- --

Sri Lanka -- -- 2 9 -- --

Saint Lucia 1 19 -- -- -- --

Sweden 103 3,450 -- -- -- --

Switzerland 4,980 36,400 2,670 18,800 -- --

Taiwan -- -- 11 127 570 10

Thailand -- -- 1 16 790 14

United Kingdom 43,400 110,000 138 1,470 33,600 841

Venezuela 24 147 -- -- -- --

Total 85,800 507,000 10,900 107,000 417,000 8,550

TABLE 5

U.S. EXPORTS OF GOLD, BY COUNTRY1

Waste and scrap Metal powder Gold compounds

Source: U.S. Census Bureau.

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Less than 1/2 unit.
GOLD—2002 33.11

Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value

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

2001: 1,260 $1,300 31,100 $211,000 161,000 $1,420,000 223 $3,700 194,000 $1,640,000

2002:

Armenia -- -- -- -- 4 37 -- -- 4 37

Aruba -- -- -- -- 1,290 12,300 -- -- 1,290 12,300

Australia 21 214 -- -- 87 712 -- -- 108 926

Austria -- -- -- -- (4) 3 -- -- (4) 3

Belgium -- -- -- -- 29 297 -- -- 29 297

Benin -- -- -- -- 8 78 -- -- 8 78

Bolivia -- -- 306 2,330 -- -- -- -- 306 2,330

Brazil -- -- -- -- 16,300 161,000 -- -- 16,300 161,000

Canada 2,340 24,200 10 116 138,000 1,410,000 -- -- 140,000 1,430,000

Chile -- -- -- -- 5,100 50,400 -- -- 5,100 50,400

Colombia -- -- 13,000 99,900 3,210 29,600 -- -- 16,200 129,000

Congo -- -- 235 2,160 -- -- -- -- 235 2,160

Costa Rica -- -- -- -- 5 45 -- -- 5 45

Dominican Republic -- -- -- -- 229 1,620 -- -- 229 1,620

Ecuador -- -- 22 187 -- -- -- -- 22 187

France -- -- -- -- 63 554 -- -- 63 554

Germany -- -- 144 1,730 4 50 -- -- 148 1,780

Ghana 8 80 (4) 8 7 69 -- -- 15 157

Guinea -- -- 2 15 -- -- -- -- 2 15

Guyana -- -- -- -- 42 386 -- -- 42 386

Honduras -- -- 5,470 42,000 1 20 -- -- 5,470 42,000

Hong Kong -- -- -- -- 3 31 -- -- 3 31

Italy -- -- -- -- 1 5 -- -- 1 5

Japan -- -- -- -- 248 1,820 -- -- 248 1,820

Kazakhstan -- -- -- -- 50 516 -- -- 50 516

Mexico 352 3,270 916 8,000 4,850 52,400 -- -- 6,120 63,700

Netherlands Antilles -- -- -- -- 83 778 -- -- 83 778

Nicaragua -- -- 2,300 17,300 -- -- -- -- 2,300 17,300

Norway -- -- -- -- 510 5,050 -- -- 510 5,050

Panama -- -- 343 2,590 139 1,210 -- -- 482 3,800

Papua New Guinea -- -- -- -- 1 8 -- -- 1 8

Paraguay -- -- -- -- 193 1,950 -- -- 193 1,950

Peru -- -- 16,200 130,000 127 1,170 -- -- 16,300 131,000

Singapore -- -- -- -- 17 189 -- -- 17 189

South Africa -- -- -- -- 6 58 -- -- 6 58

Suriname -- -- -- -- 54 461 -- -- 54 461

Switzerland -- -- -- -- 728 7,710 -- -- 728 7,710

Taiwan -- -- -- -- 16 161 -- -- 16 161

Tanzania -- -- (4) 5 -- -- -- -- (4) 5

Thailand -- -- -- -- 3 23 -- -- 3 23

United Arab Emirates -- -- -- -- 150 1,410 -- -- 150 1,410

United Kingdom -- -- 3,030 25,700 -- -- -- -- 3,030 25,700

Uruguay -- -- -- -- 39 412 -- -- 39 412

Venezuela -- -- 5 38 -- -- -- -- 5 38

Zaire -- -- 188 1,700 -- -- -- -- 188 1,700

Zimbabwe -- -- -- -- 133 1,300 -- -- 133 1,300

Total 2,720 27,700 42,200 334,000 172,000 1,740,000 -- -- 217,000 2,100,000

TABLE 6

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

Ores and concentrates2 Doré and precipitates Refined bullion3 Ash and residues Total

4

Less than 1/2 unit.

Source: U.S. Census Bureau.

-- 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.
33.12 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

Quantity Value Quantity Value Quantity Value

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

2001 26,400 $55,800 9,450 $83,200 2,240 $6,590

2002:

Australia -- -- 15 165 -- --

Bahamas, The (2) 4 -- -- -- --

Belgium 2 21 -- -- -- --

Bolivia 29 223 -- -- -- --

Brazil 3 22 -- -- 19 121

Burkina -- -- 100 2,250 -- --

Canada 1,480 13,400 4,390 41,100 503 17

Colombia 393 3,250 1,850 15,200 -- --

Costa Rica 865 6,680 2 13 -- --

Dominican Republic 5,290 32,800 144 970 -- --

Ecuador 146 1,000 4 19 -- --

El Salvador 3 17 -- -- -- --

Finland -- -- 1 11 -- --

Germany 5 27 5 64 6,340 144

Guatemala 1 6 -- -- -- --

Ghana -- -- 12 55 -- --

Guyana 57 479 -- -- -- --

Honduras -- -- 4,010 31,800 -- --

Hong Kong 55 504 -- -- -- --

Italy 2 12 1 23 -- --

Jamaica 1 9 -- -- -- --

Japan 17 229 -- -- 11,200 658

Korea, Republic of 55 449 (2) 3 -- --

Liberia -- -- 19 178 -- --

Malaysia 151 1,370 -- -- -- --

Mexico 1,850 9,260 2 50 -- --

Netherlands 17 307 -- -- -- --

Norway -- -- 159 1,460 -- --

Panama 462 3,850 -- -- -- --

Peru (2) 8 -- -- -- --

Philippines 839 254 -- -- -- --

Sierra Leone -- -- (2) 3 -- --

Singapore 164 113 2 9 -- --

Saint Vincent and the Grenadines 5 21 -- -- -- --

Switzerland 3 28 11 102 -- --

Taiwan 1 24 -- -- -- --

United Kingdom 4 48 (2) 3 48 12

Total 11,900 74,400 10,700 93,500 18,100 952

TABLE 7 

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

Waste and scrap Metal powder Gold compounds

Source: U.S. Census Bureau.

-- Zero.

1

Data are rounded to no more than three significant digits; may not add to totals shown. 2

Less than 1/2 unit.
GOLD—2002 33.13

Country 1998 1999 2000 2001 2002e

Algeria -- -- -- 300 369 3

Argentina 20,400 38,515 25,954 30,630 32,486 3

Armenia 350 e 400 e 600 1,900 3,200

Australia 310,070 301,070 296,410 285,030 273,010 3

Belize

e 6 6 6 1 r, 3 1

Benine 500 500 500 500 500

Bolivia 14,444 11,788 12,001 12,395 11,256 3

Botswana 1 2 4 2 r 8 3

Brazil4 49,567 r 52,634 r 50,393 r 53,207 r 50,500

Bulgaria 1,253 1,034 1,100 e 1,000 e 1,000

Burkina Faso 1,091 886 1,000 e 1,000 e 1,000

Burundi -- -- -- 415 420

Burma 334 267 250 e 200 e 200

Cameroon

e 1,000 1,000 1,000 1,000 1,000

Canada 165,599 157,617 156,207 158,875 r 148,860 p

Central African Republice 50 41 3 12 3 20 20

Chile 44,980 48,069 r 54,143 r 42,673 40,000

Chinae 178,000 173,000 180,000 185,000 190,000

Colombia 18,810 43,847 37,018 21,813 20,799

Congo, Brazzaville

e 10 10 10 10 10

Congo, Kinshasa 151 207 52 50 50

Costa Rica 742 165 51 e 100 e 100

Cote d'Ivoire 3,400 2,717 3,154 3,100 e 2,000

Cubae 1,000 1,000 1,000 1,000 1,000

Dominican Republic 1,424 651 -- -- --

Ecuador5 3,500 e 2,026 2,871 2,297 2,300

El Salvador 98 71 e -- -- e --

Equatorial Guineae 500 500 500 500 500

Eritrea 573 534 264 270 e 300

Ethiopia6 2,500 4,905 5,177 5,200 e 5,300

Fiji 3,690 4,428 3,842 3,858 3,731 3

Finland 5,000 e 5,900 e 4,951 5,552 4,600

France 3,793 3,600 e 2,632 3,000 e 2,800

French Guiana, Guyane 2,673 2,819 3,469 r 3,971 r 2,971 p

Gabon

e, 7 70 70 70 70 70

Georgia

e 700 2,000 2,000 2,000 2,000

Ghana 72,541 79,946 72,100 68,700 69,707 3

Guatemala

e 100 4,449 3 4,500 4,500 4,500

Guinea 7,835 12,001 13,104 13,000 e 13,500

Guyana 12,960 12,905 13,510 14,183 12,000

Hondurase 150 879 3 878 3 880 890

India8 2,383 2,500 6,200 3,700 r 3,800

Indonesia

9 124,018 127,184 124,596 166,091 r 135,000

Iran 856 930 765 r 770 r, e 800

Italy

e 1,100 700 709 3 503 3 500

Jamaica -- -- -- 214 214

Japan 8,601 9,405 8,399 r 7,815 r 8,615 3

Kazakhstan 18,100 e 20,236 28,171 27,100 27,000

Kenya 388 10 990 1,243 1,545 r 1,600

Korea, North

e 4,500 r 2,500 r 2,000 r 2,000 r 2,000

Korea, Republic of

8 22,822 25,730 22,608 28,595 26,181 3

Kyrgyzstan

e 22,000 20,000 22,000 24,000 17,000

Liberia

e 800 1,000 1,000 1,000 800

Madagascar 12 8 e 5 (11) --

Malaysia 3,394 3,449 4,026 3,965 4,289 3

Mali 20,562 23,688 28,717 r 42,288 r 57,964 p

Mexico 25,427 23,755 26,375 26,300 e 20,617 3

Mongolia 9,531 r 10,146 r 11,808 r 13,675 r 12,097 3

Moroccoe 450 -- 505 r 1,190 r 2,654 p

Mozambique 17 20 23 25 e 25

See footnotes at end of table.

TABLE 8

GOLD: WORLD MINE PRODUCTION, BY COUNTRY 1, 2

(Kilograms)
33.14 U.S. GEOLOGICAL SURVEY MINERALS YEARBOOK—2002

Country 1998 1999 2000 2001 2002e

Namibia 1,882 2,005 2,417 2,851 2,815 3

New Zealand 7,544 8,577 9,880 r 9,885 r 9,770 3

Nicaragua 3,834 4,450 3,672 3,650 e 3,660

Niger

e 1,000 1,000 1,000 1,000 1,000

Nigeriae 10 10 10 10 10

Oman 891 r 884 r 1,029 r, 8 1,000 r, e 1,000

Panamae 1,500 1,500 1,500 1,500 1,400

Papua New Guinea 61,641 r 65,747 r 74,540 r 67,043 r 65,200 3

Peru

12 94,214 128,486 132,585 138,022 157,013 p

Philippines 34,038 31,031 36,540 r 33,840 r 40,000 3

Poland 409 r 489 r 367 r 349 r 350

Romaniae 4,000 4,000 4,000 4,000 4,000

Russia 114,900 125,870 143,000 152,500 r 158,000 3

Rwanda 17 10 10 10 e 10

Saudi Arabia 5,100 4,570 3,800 e 5,000 e 5,000

Senegal

e 550 550 550 550 550

Serbia and Montenegro 2,684 1,260 e 1,121 1,100 e 1,100

Sierra Leone

e, 13 15 3 30 30 30 30

Slovakia 340 363 306 300 e 300

Solomon Islands 1,565 3,456 338 300 e 100

South Africa 465,100 r 451,300 430,800 r 394,800 r 399,234 3

Spain 3,295 5,081 4,310 3,300 3,600 .

Sudan 5,671 r 5,566 r 5,774 r 5,417 r 6,000 3

Surinamee 300 300 300 14 300 300

Sweden 5,944 4,400 3,570 r 4,986 r 4,800 3

Taiwan 9 13 9 2 --

Tajikistane 3,000 3 2,700 2,700 2,700 2,700

Tanzania 427 4,767 15,060 30,088 r 36,600

Turkey

e, 15 1,000 1,200 500 2,000 r 5,000

Uganda 8 5 56 (11) (11)

United States 366,000 341,000 353,000 335,000 298,000 3

Uruguay 1,985 2,400 e 2,177 r 2,083 r 2,100

Uzbekistan 80,000 85,000 85,000 e 87,000 e 90,000 3

Venezuela 6,740 5,946 7,332 9,076 9,000

Vietname 1,500 1,500 2,000 3,000 r 3,000

Zambiae 765 700 e 600 e 130 150

Zimbabwe 25,175 27,666 22,070 18,050 15,469 3

 Total 2,500,000 2,570,000 r 2,590,000 r 2,600,000 r 2,550,000

15Indicates byproduct of base metals.

11Less than 1/2 unit.

12Includes documented production from placer artisanal production. 13Data are based on official exports and do not reflect gold moved through undocumented channels. 14Government estimates unreported production as high as 30,000 kilograms.

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.

10Reported exports.

(revised); 2002--8,500 (estimated).

5

Includes undocumented artisanal production.

6

Year ending July 7 of that stated.

7

Undocumented artisanal production.

2

Table includes data available through August 7, 2003.

3

Reported figure.

4

Officially reported figures are as follows, in kilograms: Major companies: 1998--37,787; 1999--42,367; 2000--42,025; 2001--46,001

(revised); 2002--42,000 (estimated). Garimpos 1998--11,780 (revised); 1999--10,267 (revised); 2000--8,368 (revised); 2001--7,206

TABLE 8--Continued

e

Estimated. pPreliminary. rRevised. -- 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.

GOLD: WORLD MINE PRODUCTION, BY COUNTRY 1, 2

(Kilograms)