Mineral Industry Surveys

For information, contact: 

Micheal W. George, Gold Commodity Specialist 

U.S. Geological Survey

989 National Center 

Reston, VA 20192

Telephone: (703) 648-4962, Fax: (703) 648-7757

E-mail: mgeorge@usgs.gov 

Mahbood Mahdavi (Data)

Telephone: (703) 648-7778 

Fax: (703) 648-7975

E-mail: mmahdavi@usgs.gov 

Wanda G. Wooten (Mine Data) 

Telephone: (703) 648-4980 

Fax: (703) 648-7975

E-mail: wwooten@usgs.gov

Internet: http://minerals.usgs.gov/minerals

GOLD IN JULY 2006

U.S. mines produced 20,100 kilograms (kg) of gold in July,

equivalent to that of June, according to the U.S. Geological

Survey. The daily production rate of gold in July was 650 kg, 

9% lower than the 2005 annual average daily production rate of 

713 kg and 3% less than the June average rate of 670 kg.

Engelhard Industries’ average gold price for July was $636.62

per troy ounce, 6% more than the average June price. 

On July 24, Barrick Gold Corporation (Toronto, Ontario,

Canada) announced that it had reached an agreement with

Pioneer Metals Corporation (Vancouver, British Columbia, 

Canada) to offer cash for all of the issued and outstanding shares 

of Pioneer Metals. Pioneer had exploration projects and other 

interests, including the Grace property, which is adjacent to

NovaGold Resources Inc.’s (Vancouver) Galore Creek project 

in British Columbia, Canada. On the same day, Barrick

announced its offer to acquire all the outstanding shares of

NovaGold. The proposed transaction was valued at $1.29

billion and would increase Barrick’s share of the Donlin Creek

project in Alaska and the Galore Creek project to 100%. 

NovaGold had made an offer in June to acquire Pioneer, which 

was set to expire on July 25. If both transactions are completed, 

Barrick’s measured and indicated gold reserves in North 

America will rise by 54% (Barrick Gold Corporation, 2006a, b). 

According to the China Gold Association, China produced 

20,500 kg of gold in May, which brought the year-to-date total 

to 88,800 kg of gold, or 12% greater than gold production

during the same period in 2005. China’s State Development and 

Reform Commission estimated that China’s gold production

would rise by 10% in 2006 (Beijing Antaike Information

Development Co., Ltd., 2006 a, b). 

References Cited 

Barrick Gold Corporation, 2006a, Barrick announces cash offer for NovaGold: 

Toronto, Ontario, Canada, Barrick Gold Corporation press release, July 24,

4 p.

Barrick Gold Corporation, 2006b, Pioneer agrees to be acquired by Barrick: 

Toronto, Ontario, Canada, Barrick Gold Corporation press release, July 24,

3 p.

Beijing Antaike Information Development Co., Ltd., 2006a, CGA—China 

yields 88.802t of gold in Jan.-May: China Metal Market––Precious & Minor

Metals Monthly, no. 78, August, p. 3. 

Beijing Antaike Information Development Co., Ltd., 2006b, CGA—Gold output 

expected to rise by 10% in 2006: China Metal Market––Precious & Minor

Metals Monthly, no. 78, August, p. 3.

U.S. Department of the Interior October 2006 

U.S. Geological Survey 
Other

Nevada States2 Total

2005:p

July 18,100 3,520 r 21,600 r

August 19,700 3,870 r 23,600 r

September 19,600 3,930 r 23,600 r

October 18,700 3,440 r 22,200 r

November 18,100 3,650 r 21,700 r

December 19,500 3,420 r 22,900 r

January-December 217,000 43,700 r 260,000 r

2006:

January 15,200 3,170 r 18,400 r

February 14,800 3,390 r 18,200 r

March 18,400 4,110 r 22,500 r

April 16,000 4,100 20,100

May

r 15,400 4,630 20,100

Juner 15,600 4,460 20,100

July 15,500 4,670 20,100

January-July 95,300 24,200 119,000

TABLE 1

(Kilograms)

2

Includes Alaska, Arizona, California, Colorado, Idaho, Montana, New 

Mexico, South Dakota, Utah, and Washington.

MINE PRODUCTION OF RECOVERABLE GOLD IN THE UNITED 

STATES, BY STATE1

p

Preliminary. rRevised. 1

Data are rounded to no more than three significant digits; may not add to 

totals shown.

2
Engelhard Industries:

2005:

Low/date 412.45 Feb. 8

High/date 538.06 Dec. 12

Average 446.20

2006:

May:

Low/date 643.99/26

High/date 726.88/12

Average 676.44

June:

Low/date 568.61/20

High/date 643.54/5

Average 597.81

July:

Low/date 607.38/24

High/date 665.03/14

Average 636.62

Year to date:

Low/date 526.29 Jan. 5

High/date 726.88 May 12

Average 598.53

Handy and Harman:

2005, average 444.79

2006:

May 673.97

June 596.15

July 634.89

Year to date 596.69

London Final:

2005, average 444.88

2006:

May 675.39

June 596.15

July 633.71

Year to date 596.83

TABLE 2

 GOLD PRICES

(Dollars per troy ounce)

Source: Platts Metals Week.

3
Waste Metal Gold

Ores and Doré and Refined and scrap powder compounds

Period and country concentrates2 precipitates bullion3 Total4 (gross weight) (gross weight) (gross weight)

Imports for consumption: 

2005 1,630 234,000 105,000 341,000 27,300 1,990 29,500

2006:

April 1 11,300 10,600 21,900 4,010 167 8,310

May 139 11,000 12,400 23,500 4,520 42 9,050

June:

Brazil -- -- 202 202 -- -- --

Canada 373 -- 5,180 5,550 142 5 6 5 --

Chile -- 2,050 500 2,550 -- -- --

Colombia -- 228 333 560 1,780 -- --

Costa Rica -- 33 -- 33 147 5 -- --

Dominican Republic -- -- -- -- 584 5 148 5 --

Germany -- -- -- -- -- 2 5 229 5

Guatemala -- 1,240 5 -- 1,240 -- -- --

Honduras -- 536 -- 536 111 5 -- --

Israel -- -- -- -- -- 107 5 --

Japan -- -- -- -- -- -- 379 5

Mexico -- 138 5 3,810 3,950 861 5 4 5 --

Nicaragua -- 194 2 196 31 5 -- --

Peru -- 4,400 -- 4,400 -- -- --

Other 1 34 5 160 195 169 5 1 5 --

Total 374 8,850 10,200 19,400 3,830 267 608

Year to date 528 71,500 67,900 140,000 23,600 705 22,900

Exports:

2005 1,380 141,000 182,000 324,000 563,000 687 1,310,000

2006:

April 45 14,000 8,250 22,200 63,700 3 122,000

May 47 9,740 19,000 28,800 102,000 78 123,000

June:

Canada -- -- 20 20 13,400 -- 53,400 5

China -- -- -- -- -- -- 499 5

Dominican Republic 26 -- -- 26 -- -- 7,190 5

Germany -- -- 24 24 7,180 -- 892 5

Hong Kong -- -- -- -- 1,670 -- 3,560 5

Ireland 7 -- -- 7 -- -- 374 5

Israel -- -- -- -- -- -- 4,170 5

Korea, Republic of -- -- -- -- -- -- 161 5

Malaysia -- -- 10 10 3 -- 3,090 5

Mexico 29 -- 839 869 -- (6) 898 5

Singapore -- -- -- -- -- (6) 34,300 5

Switzerland -- 12,100 819 12,900 -- -- --

Taiwan -- -- -- -- -- -- 6,260 5

United Kingdom 2 5 -- 20,500 20,500 21,500 1 869 5

Other 2 -- 75 77 100 36 --

Total 66 12,100 22,300 34,500 43,900 38 116,000

Year to date 1,670 68,900 103,000 174,000 327,000 217 671,000

3

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

TABLE 3

 U.S. IMPORTS AND EXPORTS OF GOLD1

(Kilograms of gold content, unless otherwise specified)

4

"Waste and scrap," "Metal powder," and "Gold compounds" not included in "Total."

1

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

-- Zero.

5

All or part of these data have been referred to the U.S. Census Bureau for verification.

Source: U.S. Census Bureau.

2

Includes gold content of base metal ores, concentrates, and matte imported for refining.

6

Less than 1⁄2 unit.

4