U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996 1

GOLD

By Earle B. Amey

Total world gold mine production increased slightly and was was heavily concentrated in the New York, NY, and

well within 1% of the all-time high reached in 1993. Despite a Providence, RI, areas; other areas of concentration were in

third successive decline in production, South Africa remained California, Florida, and Texas. 

the world’s largest of more than 80 gold-producing nations, According to the World Gold Council, 1996 marked the fifth

followed by the United States, Australia, Canada, and China. consecutive year of sales increases for gold jewelry in the United

The United States has been the second largest producer since States. Total U.S. gold jewelry sales reached $12.3 billion, up

1991 when its production surpassed that of the former Soviet 5% from sales in 1995. Dollar and unit sales reportedly had

Union, for the first time in nearly five decades. Nevada increased through 21 consecutive quarters (World Gold

produced two-thirds of domestic production; the other one-third Council, 1996) .

came from 12 other States. Although most domestic gold mines Trade in refined bullion comprised 90% of U.S. gold imports

were open-pit mines, interest in underground methods continued and 86% of exports; net exports of bullion rose to 263,000 tons,

to increase as more near-surface deposits reached depletion. up about 60% from that of 1995. Canada provided more than

Some of the deeper deposits, accessible only by underground one-half of the bullion imported, and Switzerland was the

methods, contain higher grade sulfide ores that require more destination for nearly one-half of the bullion exported. Most

extensive processing than the oxidized ores encountered in most imports of unwrought gold, including bullion and doré, enter the

near-surface operations. Along with this shift in ore types and U.S. duty free.

the related maturing of the U.S. gold mining industry, there has The dollar price for gold remained listless throughout the

also been a trend toward a smaller total number of operating year. The Engelhard Industries’ daily price of gold ranged from

gold mines but with an associated shift to larger capacity mining a low of about $369 per troy ounce on December 3 to a high of

operations; that is, fewer but larger gold mines. Although the nearly $391 on August 5. The average for the year was, to the

majority of the Nation’s gold mines were in the Western States, nearest dollar, $389. The previous year’s prices ranged from

several were in operation in two States, South Carolina and about $373 to $397 and averaged $386.

Wisconsin, east of the Mississippi River. Gold was also In June, gold leasing rates reached their lowest level for

produced at about 120 lode mines (of which about 75 were 1996, suggesting, in the absence of significant additional supply

major), a dozen or more large placer mines, nearly all in Alaska, of liquidity to the market, low levels of demand for borrowed

and numerous small placer mines, mostly in Alaska and the gold (Murray and others, 1997, p. 31).

Western States. A minor amount of domestic gold also was Identified world gold resources at yearend 1996 were

produced as a byproduct of processing the ores of base metals, estimated at 86,000 tons, of which 15% to 20% was byproduct

principally copper. Of the gold produced in the United States, resource; the world reserve base was estimated (R. Ashley,

23 mines yielded 83%. The value of U.S. gold mine production Gold Resource Specialist, U. S. Geological Survey oral

was about $4 billion. commun., Oct. 6, 1996) to be 71,000 tons and reserves at

Domestic gold exploration activity, which peaked during the 46,000 tons. South Africa had about one-half of the resources

late 1980’s, continued a trend of expanding on a total dollar and reserve base and 41% of the reserves. The United States

basis while shrinking on a percentage basis as mining had about 10% of world resources, 8% of the reserve base, and

companies pursued opportunities overseas (D. Wilburn, 12% of the reserves.

Materials and Minerals Specialists, U.S. Geological Survey, Of an estimated 121,000 tons of gold mined in historical

written commun., Mar. 3, 1997). Many countries have revised times through 1996 (Thomas and Boyle, 1986), about 15% is

their mining laws, offering incentives for foreign investment, thought to have been lost, used in dissipative industrial uses, or

and in some cases, have opened up areas previously not otherwise unaccounted for or unrecoverable. Of the remaining

available for exploration. This focus on overseas exploration 103,000 tons, about 35,000 tons is official stocks held by central

and development targets by U.S. companies was directed banks and about 68,000 tons is privately held as bullion, coin,

toward various areas in the southwestern Pacific, Western and jewelry.

Africa, and the newly independent republics of the former

Soviet Union.

Approximately two dozen domestic producers produced

commercial-grade refined gold. Of several thousand companies Domestic mine production data for gold were derived by the

and artisans, a few dozen companies dominated the fabrication USGS from two separate voluntary surveys of U.S. operations.

of gold into marketable products. U.S. jewelry manufacturing One of these surveys is the production survey of copper, gold,

1 

Production
2 U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996

lead, silver, and zinc lode mines. Of the lode gold producers in July 29 that operations at the Greens Creek Mine on Admiralty

operation to which a survey request was sent, 115 responded, Island, off Juneau, AK, had been restarted ahead of schedule.

representing 97% of the total gold shown in tables 1 and 2. The Grinding and flotation circuits at the silver/zinc/lead/gold mine

individual company production and performance data cited in were started the week of July 22, well ahead of the original

this report were obtained from published sources, such as schedule, which had called for the mine to restart operations in

company annual reports. the first quarter of 1997. Greens Creek is a joint venture

Of the total gold produced during 1996, 91% was extracted between Kennecott Greens Creek Mining Co. (70.3%) and

from gold ore, and the remainder was derived from base-metal Hecla (29.7%).

ores, other precious-metal ores, and placer deposits. By

comparison, similar data assembled for 1980 indicated that gold

ores provided 63% of the total gold produced and the remainder,

37%, was derived from base-metal ores, other precious-metal

ores, and placers. 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 Mine, which had been California’s largest gold mine, produced

Surveys reported that gold output increased slightly from an 5.8 tons (186,000 ounces) of gold from processed oxide and

estimated 4.4 tons (142,000 ounces) worth $56.0 million in sulfide ore mined by open pit methods, and the American Girl

1995 to 4.5 tons (145,000 ounces) worth $56.4 million in 1996, Mine produced 1.4 tons (45,000 ounces) of gold. With the

or an approximate increase in production of 2% and a increase shutdown of the McLaughlin Mine, Santa Fe Pacific Gold

in associated value of 1% (Swainbank and others, 1997). An Corp.’s Mesquite Mine near Brawley became California’s

estimated 144 placer mines were operating in 1996, about the largest gold mine, processing oxide and sulfide ore mined by

same as in 1995. A big drop in placer production, from 4,220 open pit methods, recovering more than 5.8 tons (187,000

to 3,090 kilograms of gold, was due to the permanent closure of ounces) of gold from both surface and underground mines. In

Cambior Alaska Inc.’s Valdez Creek Mine, the State’s largest eastern Imperial County, Glamis Gold Ltd. continued to produce

gold mine for 12 years, in September 1995. The new gold by using heap-leaching methods at its Picacho Mine and

underground Nixon Fork copper-gold mine near McGrath that continued exploration at its nearby Imperial Project. The

began to produce gold during the fourth quarter of 1995 became Picacho Mine produced a record 1.1 tons (34,600 ounces)

Alaska’s largest gold mine in 1996. Nixon Fork Mining Co., during 1996 and is expected to produce more than of 0.9 ton

the operating subsidiary for Consolidated Nevada Goldfields (28,000 ounces) in 1997, at which time all known reserves on

Co., reported that the project mined and milled about 1,200 the property will have been depleted. Glamis, through its wholly

kilograms of gold (Consolidated Nevada Goldfields Corp., owned Rand Mining Co., also produced 2.7 tons of gold (86,000

1996). ounces) at its Rand Mine near Randsburg. Almost all mining

USMX, Inc. (1996e), Lakewood, CO, announced that has been carried out at the Yellow Aster Pit of the Rand Mine.

significant progress had been made toward the completion of a Another major mine producing gold in Kern Counties during

feasibility study to evaluate the economics of its Illinois Creek the year was the Cactus Mine.

gold and silver property in west-central Alaska. USMX In eastern San Bernardino County near the

reported that results to that point had been positive and, on a Nevada-California State line, about 95 kilometers southwest of

preliminary basis, indicated that the property contained about Las Vegas, NV, the Castle Mountain Mine of Viceroy Resource

4.5 million tons of drill-defined mineralization at a grade of 2.5 Corp. and MK Gold produced an estimated 4.6 tons (147,000

grams (0.074 ounce per short ton) of gold per ton, amounting to ounces) of gold. 

about 10,900 kilograms of contained gold. The company plans Siskon Gold Corp. reported (diGesu and others, 1997) that

to mine the property over a 5-year period and heap–leach construction and development of its new San Juan Mine, north

run-of-mine ore to recover more than 1,560 kilograms of gold of Grass Valley was completed in mid-May 1996. Blasted

per year. By early June, USMX, Inc. (1996a), Lakewood, CO gold-bearing gravels were transported by means of mechanized

had received the key permits from the State of Alaska necessary ladders from this new underground placer mine to an

to begin construction at Illinois Creek; the package of approved underground processing plant that produced gold concentrate.

permits included all permits necessary to begin development of In the first 9 months of 1996, 0.3 ton (9,200 ounces) of gold was

gold mining and leaching facilities at the site. However, on recovered from the raw concentrate by gravity concentration

November 14th , USMX, Inc. (1996c), Lakewood , CO, methods at the new surface-level processing plant.

announced that it had decided to defer commencement of gold

production until the spring of 1997. 

USMX, Inc. (1996d), Lakewood , CO, announced that it had

received an exclusive exploration permit covering 5,420

hectares (13,380 acres) in the Ophir mining district in westcentral Alaska.

Hecla Mining Co. (1996), Coeur d’Alene, ID, announced on

California.—Gold production in California reportedly

dropped about 7% drop from that of 1995 as shown in table 2.

This was apparently due, in part, to the June 1996 closure of

Homestake Mining Co.’s McLaughlin Mine in Napa County

and MK Gold Co.’s and Hecla Mining Co.’s American Girl

Mine in Imperial County. Before the closures, the McLaughlin

Colorado.—The more than 60% increase in gold production

was due , in no small part, to a full year of production from

Pikes Peak Mining Co.’s Cresson Mine in the Cripple Creek

District of Teller County. Golden Cycle Gold Corp. (1997)

reported that this new open pit mining operation produced 5.4

tons (175,000 ounces) of gold in 1996. The closure of Battle

Mountain Gold Co.’s San Luis Mine in Costilla County in late
U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996 3

1996 will, however, result in a decline of gold production in Mine near Whitehall is Montana’s largest gold-producing mine

1997. Battle Mountain (1997) reported that the mine produced with 3.7 tons (117,900 ounces) in 1996; production in 1995 had

about 1.7 tons (54,000 ounces) of gold in 1996. Most of the site amounted to nearly 2.8 tons (89,800 ounces) of gold. The

reclamation is expected to be completed during 1997. company indicated that it is working with the Montana

Sunnyside Gold Corp., a subsidiary of Echo Bay Mines, Department of Environmental Quality to complete an

Englewood, CO, filed a final consent decree in Denver’s District Environmental Impact Statement for an expanded Stage 5 pit

Court to resolve its 1994 lawsuit against the State of Colorado’s that will extend the main pit life by 3 years.

Department of Public Health and Environment. The dispute TVX Gold Inc. suspended production at its underground

focused on the company’s plan for complete closure of the Mineral Hill Mine near Jardine and exploration work at its

Sunnyside polymetallic gold/silver mine near Silverton, CO. nearby Crevice Mountain Project. The facilities were placed

According to the agreement, the water quality in the Upper under care and maintenance owing to continuing losses as a

Animas River Basin in southwest Colorado will be maintained result of decreased ore grades. The Mineral Hill Mine

and improved by the removal of historic waste/tailings from reportedly (TVX Gold Inc., 1997) produced nearly 0.5 ton

abandoned mine sites outside the Sunnyside property, as well as, (17,300 ounces) of gold in 1996 compared with 1.1 tons

remediating long-abandoned mine sites that are the source of (34,900 ounces) of gold in 1995. 

leached metals (Engineering & Mining Journal, 1996a). Near Cooke City, the New World project was on hold as

Idaho.—With a full year production of 3.4 tons (109,000

ounces) from Meridan Gold Co.’s Beartrack Mine, near Salmon,

the total gold production for Idaho rose about 27%.

Dakota Mining Corp.’s wholly owned Stibnite Mine in

Valley County decreased its gold production from 1.5 tons

(49,000 ounces) in 1995 to 0.9 ton (29,000 ounces) in 1996.

Dakota Mining Corp. and Hecla Mining Co. announced plans to

combine their gold mining interests in the Stibnite/Yellow Pine Nevada.—Nevada maintained in its longstanding position as

areas of Valley County. By this action, the companies plan to the Nation’s dominant gold-producing State. Of the Nation’s

streamline the future development of the sulfide gold ore top 23 gold-producing mines, 13 were in the Silver State.

resources in the region, sharing these assets equally. Under the Primary gold production increased slightly to 213 tons (6.8

agreement, Dakota Mining will continue to mine its million ounces) and is expected to rise to almost 220 tons (7

wholly-owned oxide gold reserves at the Stibnite site million ounces) in 1997 with several new mines on the horizon.

(Engineering & Mining Journal, 1996b). Barrick Gold Corp. was once again the Nation’s largest gold

Pegasus Gold Inc.’s Black Pine Mine in Cassia County also mining company and reportedly recovered 60.2 tons (1.93

produced less gold; 2.7 tons (88,000 ounces) in 1996 versus million ounces) of gold at its Betze-Post Mine in Eureka County.

3.4 tons (109,000 ounces) in 1995. Black Pine reportedly Nearby in Elko County, Barrick continued development of its

(diGesu and others, 1997) will be mined out by mid-1997; Meikle Mine, a new underground operation that produced 2.4

residual production is scheduled to continue through 1997. tons (78,400 ounces) of gold. These Barrick operations on the

Gold production at the Grouse Creek gold mine near Challis Carlin Trend are developed within a 2,800-hectare landholding

declined about 8% from 2.6 tons (84,000 ounces) in 1995 to known as the Goldstrike property. In addition, Barrick’s wholly

2.4 tons (77,000 ounces) in 1996. owned Bullfrog Mine near Beatty produced nearly 6.4 tons

Montana.—According to the annual review of mining and

mineral developments, prepared by the Montana Bureau of

Mines and Geology, exploration budgets have been reduced to 

lobby against an initiative campaign, I-122, that addressees

new-water quality standards (McCulloch, 1997).

Gold output slipped from 12.4 tons (400,000 ounces) in

1995 to 9.1 tons (293,000 ounces) in 1996 owing to the closure

of TVX Gold Inc.’s Mineral Hill Mine in early September 1996

and the decline in residual production from the Kendall and the

Zortman Mines (McCulloch, 1997).

Of the mines producing gold in Montana during the year,

three were owned and operated by Pegasus Gold Inc.— the Beal

Mountain Mine in Silver Bow County; the Montana Tunnels

Mine, a gold, lead, silver, and zinc mine in Jefferson County that

was the State’s second largest gold mine in 1996; and the

Zortman Mine in Phillips County. Their total gold production

during the year amounted to about 5.1 tons (160,000 ounces).

 Placer Dome (U.S.) Inc.’s wholly owned Golden Sunlight

Federal officials and environmental groups negotiated the

exchange of private landholdings and unpatented mineral rights

currently owned by Crown Butte Mines Inc. for Federal

property totaling $64 million (McCulloch, 1997). Federal

plans for the gold, silver, and copper project call for

underground mining and ore processing without the use of

controversial heap-leaching or cyanide recovery methods.

(205,300 ounces) of gold.

In 1996, Newmont Gold Co. produced 52.9 tons (1.7 million

ounces) of gold from its operations centered in Eureka and Elko

Counties. It was the seventh consecutive year that Newmont

had produced 1.5 million ounces (46.7 tons) or more from the

Carlin Trend in northeastern Nevada. In May, Newmont

marked 31 years of production on the Carlin Trend, which it

discovered in the mid-1960’s, with the pouring of its 551st ton

(18 millionth ounce of gold). The company’s extensive

operations along the Carlin Trend include 11 open pit mines

from which nearly 242 million tons of ore and waste was mined

during the year, accounting for the bulk of Newmont’s Carlin

Trend production. The Gold Quarry Mine generated 54% of

Newmont’s Carlin area production, down from 67% in 1995.

Mining reportedly (Newmont Gold Co., 1997) began at four

new open pit mines in 1996–Bootstrap, Beast, Lantern, and

Sold. Full-scale operations were achieved at Deep Star, the

company’s highest grade underground mine. In addition, gold
4 U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996

from three other underground mines nearly tripled from an Wharf Resources Ltd. continued to operate two open pit gold

output of just 3.8 tons (123,000 ounces) in 1995 to 9.5 tons mines near Lead (the wholly-owned Wharf Mine and the

(307,000 ounces) of gold in 1996. To recover gold from the 60%-owned Golden Reward Mine) in 1996. The Wharf Mine

widely varying grades and many types of ore it is currently produced about 3.2 tons (105,000 ounces) of gold, and the

mining along the Carlin Trend, Newmont uses several Golden Reward Mine, about 0.7 ton (21,000 ounces). In

processing methods. The company’s $350 million refractory September, the Golden Reward Mine was placed on care and

(sulfidic and carbonaceous) ore treatment plant, or roaster, maintenance following depletion of permitted reserves.

which is reported to be the largest facility of its kind in the Developing the unpermitted reserves of 3.9 tons at a grade of

world, produced almost one-third of the company’s Nevada 0.035 ounces of gold per ton of ore would disrupt the surface of

production—16.8 tons (540,000 ounces) of gold during the a local cemetery and could affect the operation of a nearby ski

year, an increase of 11.0 tons (354,000 ounces) from in 1995. hill. As of yearend, a solution to the permitting had yet to be

All refractory ore from Newmont’s underground operations was resolved.

processed by the new roaster, which was originally designed to In January, Dakota Mining Corp. successfully completed

process 8,000 tons of ore per day but has consistently operated permitting work at its Anchor Hill oxide deposit on the Gilt

above that level, and at times, has produced more than 10,000 Edge property, near Deadwood (Platt’s Metals Week, 1996);

tons per day. this deposit is an oxidized sulfide deposit. Unlike unoxidized

 Northwest of Elko, Independence Mining Co. and FMC sulfide deposits, gold can be extracted from sulfide material in

Gold Co. produced about 9.6 tons (309,000 ounces) of gold at the oxide deposit through the use of cyanide heap-leaching

their Jerritt Canyon Mine. Santa Fe Pacific Gold Corp. solutions. More than 0.8 ton (26,000 ounces) of gold was

recovered 14.3 tons (459,000 ounces) of gold at its Twin Creeks recovered from sulfide material.

Mine in Humboldt County, and about 6.4 tons (206,000 ounces)

at its Lone Tree Mine to the south near Valmy. Both operations

are open pit mines where gold was recovered by milling and

heap-leaching methods. At the nearby Getchell Mine,

FirstMiss Gold Inc. produced 5.5 tons (178,000 ounces) of gold

from its underground operations. Other gold mines in Humboldt

County include the Hycroft (formerly the Crofoot/Lewis), the

Marigold , the Pinson, and the Sleeper Mines; although mining

ended at the Sleeper Mine in the third quarter, residual leaching

continued.

South of and parallel to the Carlin Trend, the Battle

Mountain/Eureka Trend runs from southeastern Humboldt

County southeast through Eureka. Gold mining operations

along this trend include the Battle Mountain Complex of Battle

Mountain Gold Co. in Lander County: the McCoy and Cove

gold and silver property of Echo Bay Mines Ltd., the Cortez

Gold Mine Joint Venture’s Cortez Mine, and Alta Gold Co.’s

Easy Junior Mine in White Pine County. Gold production is

winding down at Easy Junior.

At Round Mountain, about 95 kilometers north of Tonopah,

the Smokey Valley Common Operation at the Round Mountain

Mine produced about 12.8 tons (411,000 ounces) of gold during

the year.

 Considerable exploration activity continued to be focused on

Mineral Ridge, the Pipeline, Ruby Hill, and several other recent

discoveries along the Battle Mountain/Eureka Trend in Lander

and Eureka Counties.

South Dakota.—Gold production remained largely calculated that the total global supply of gold in 1996 was 3,490

unchanged. Homestake Mining Co.’s 120-year-old Homestake tons (112 million ounces) compared with the previous year’s

Mine at Lead was again the Nation’s largest underground gold total supply of 3,330 tons (107 million ounces) in 1995 (Murray

mine, the largest gold-producing mine in South Dakota, and the and others, 1997, p. 5). The two principal components of gold

sixth largest gold-producing mine in the country. During the supply, mine production and old gold scrap, recorded only

year, the mine, a nearly 2.5-kilometer-deep operation with minor changes in 1996. Beyond these areas of slight change,

associated surface mining, yielded about 12.7 tons (407,000 however, were several significant developments within

ounces) of gold at a reported cash production cost of $293 per individual components of the supply-demand balance for the

ounce. year. The most consequential of these developments was the

Utah.—Kennecott-Utah Copper Corp.’s Bingham Canyon

Mine produced 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 third largest gold producer in 1996. Kennecott also operated

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

heap-leaching operation.

Barrick Gold Corp.’s open pit Mercur Mine in Tooele

County, Utah’s largest primary gold producer, recovered about

2.6 tons (83,000 ounces) of gold. Mercur is expected to began

closure activities in early 1997. Mill processing of tailings from

earlier mining operations is expected to continue into late 1998,

when the mill will close.

USMX Inc. (1996b) reported that reclamation at its

Goldstrike Mine in Washington County was going smoothly;

actual mining had been terminated in late 1994. A pilot

bioreactor was constructed to treat heap effluent and to produce

a “clean” discharge. Closure was set for 1997.

World Review

After 2 consecutive years of decline, world gold mine

production rose slightly in 1996. Increasing production from

mines in North America , South America and Australia has been

enough to help offset a continuing sharp decline in gold output

from South Africa. According to its annual review of world

gold supply and demand, Gold Fields Mineral Services Ltd.
U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996 5

first appearance of producer forward sales on the demand side Exploration for gold deposits continued with renewed vigor.

as a result of a net year-on-year decline in forward selling. Much of the exploration was directed at deeper lying deposits.

Other significant changes were a decline in investment interest This vigor further confirmed the opinion that the Native Title

and a switch to substantial disinvestments. Act of 1993 had not and would not force the mining industry to

On the supply side, Gold Fields reported that a series of abandon. There was, however, a further cause for ongoing

official transactions and statements ensured that any positive concern with the matter of the native title. The Supreme Court’s

sentiment in the global gold market would be short-lived. First, December ruling in the Wik decision that native title could

in March, the Central Bank of Belgium sold part of their gold coexist with pastoral leases, which account for about 40% of the

stocks, which historically had backed up their paper currency land in Australia, created great uncertainty regarding hierarchy

(Murray and others, 1997, p. 5). This was followed by of title and security of tenure of holders of mining leases

protracted discussions within the International Monetary Fund (Murray and others, 1997, p. 24). 

about the possibility of selling 5% of its gold reserves to aid

some of the most heavily indebted countries. Next came the

announcement by the Swiss National Bank of a radical change

in its previously passive policy on gold (Murray and others ,

1997, p. 6) . Finally, the Dutch Central Bank announced in a

fourth quarter sale of 300 tons of gold from its reserves (World

Gold Council, 1997). 

On the demand side, Gold Fields reported that the total

amount of gold used in the fabrication of marketable products

rose by 1% to a record 3,290 tons (106 million ounces)

(Murray and others, 1997, p. 5). Demand reportedly increased

modestly in most fabrication markets; the main increases came

from jewelry. The total worldwide demand for gold used in the

fabrication of jewelry products rose by 1.4%, to 2,800 tons (90

million ounces). Demand in the second largest fabrication

market, other industrial applications, rose 1.5%, to 213 tons

(about 7 million ounces). Worldwide fabrication in the

industrial countries had shown virtually no growth since 1990.

Over the same period, however, led by the jewelry sector,

fabrication in developing countries increased by 40%, and the

use of gold in other demand sectors, such as dentistry and

electronic products, also reported gains. Medals and imitation

coins did not (Murray and others, 1997, p. 45).

With regard to gold exploration, the Metals Economics

Group of Halifax, Canada, determined from its annual survey of

worldwide exploration budgets for 223 companies that the

percentage of overall exploration expenditures directed to gold

targets rose to 60.9% in 1996, the highest level devoted to gold

since 1989 (Beamish and others, 1996).

Australia.—Australian gold mine production increased by

14% in 1996, to reach its highest level ever, helping Australia

retain its position as the world’s third largest gold-producing

nation. Of the 289 tons (9.3 million ounces) of gold mined in

1996, Western Australia, Queensland, and the Northern

Territory accounted for about 76%, 10%, and 6%, respectively;

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.

A number of gold mines were under development or

expanding capacity, and several new mines, such as Henry,

Brocks Creek, and White Devil began production. In addition,

15 tons of gold were added to the national output by the Jundee,

the Nimary, and the Tanami Mines, which had started up in

1995 but had their first full year of production in 1996. 

Canada.—In 1996, gold production continued to rebound,

reversing the downward trend from 1992 through 1994. New

mines and expansions should result in a continuation of

increased gold production until the end of the decade, according

to a review of Canadian gold developments (G. Couturier,

Natural Resources Canada, 1997, written commun./unpub.

data). Canada retained its position as the world’s fourth largest 

gold producer. Gold was produced at about 50 lode gold mines,

accounting for 89.5% of the total gold output. Base metal mines

and placer mines accounted for 8.4% and 2.1%, respectively, of

the remainder. During the year, five gold mines began operation

and three mines shut down. Canada’s principal gold-producing

regions were, in descending order of output, Ontario, Quebec,

British Columbia, and the Northwest Territories. Gold was also

produced in Alberta, Manitoba, New Brunswick, Newfoundland, Saskatchewan, and Yukon Territory.

Latin America.—Gold production in this part of the world

rose by 7%, to about 277 tons (8.90 million ounces). For the

third year in a row, Latin America spent the most on exploration

($963 million in 1996) primarily because of continued mining

law and tax reforms and favorable geology. The most active

exploration activities were focused in Chile and Peru (D.R.

Wilburn, U.S. Geological Survey, written commun., 1996).

For the first time since the 1960’s, production in Peru

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

Latin America at just under 65 tons (2.1 million ounces) of gold.

The growth of the Peruvian mining industry has been quite

phenomenal, with gold production increasing 500% in the last

10 years. Much of this success is attributable to Newmont Gold

Co.’s and Cia. de Minas Buenaventura’s low-cost heap-leach

Yanacocha Mine in northern Peru, which produced more than

25 tons (800,000 million ounces) of gold. Yanacocha’s

continued expansion, has made it the largest gold mining

operation in Latin America for the second consecutive year. The

production from Peru’s informal sector, which includes the

gold-producing areas of Madre de Dios and Juliaca-Puno,

however, remained about the same as that of 1995.

During 1996, Brazil produced about the same amount of

gold, 62.5 tons (2.0 million ounces), as it did last year. The

formal mining sector stabilized at about 41 tons (1.3 million

ounces) of gold. The mines of the State-owned Cia. Vale do Rio

Doce (CVRD), still Brazil’s largest gold producer, yielded 18.0

tons (579,000 ounces) of gold. CVRD opened two new mines,

Almas (Tocantins State) and Caeté (Minas Gerais State) and

ceased operations at two other mines. Presently, the Igarapé
6 U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996

Bahia Mine, in the Carajás Mineral District, State of Pará, is the drilled within the Busang Project area in an attempt to confirm

company’s largest gold mine, with an annual production rate of these results, however, indicated insignificant amounts of gold.

more than 10 tons (322,000 ounces) of gold. Output from the Additional analyses by an independent mining consultant gave

informal mining sector drastically fell (almost 60%) because of further indication that Busang was unlikely to be proven an

depletion of accessible near-surface reserves, lower local prices, economic gold deposit (Wall Street Journal, 1997).

and increasing environmental control (Murray and others, 1997, Gold output in New Zealand rose as a result of production

p. 25). increases from the Martha Hill and the Macraes gold mines.

Gold production in Chile registered the third consecutive Fiji now boasts two operating gold mines— Pacific Island

annual increase, rising 1% to 40 tons (1.3 million ounces). Gold’s Mount Kasi Mine, which began gold production on the

Most of this gold was generated by Amax Gold Inc.’s and Bema island of Viti Levu in 1995, and the Emperor gold mine located

Gold’s Refugio Mine in Maricunga, Dayton Mining’s at Vatukoula (Murray and others, 1997, p. 28). 

Andacollo gold mine, the gold-silver Fachinal mining operation

managed by Coeur d’Alene Mines Corp., the Pimenton gold

mine, and the Escondida copper mine (Murray and others, 1997,

p. 25). 

Gold production in Mexico rose to more than 24 tons

(775,000 ounces) in 1996 compared with 20 tons (643,000

ounces) in 1995. During the year, production began at

Newmex’s Lluvia de Oro Mine and Eldorado Corp.’s La

Trinidad Mine. The country’s mining sector has been

revitalized by the introduction of new legislation that encourages

investment and exploration (Murray and others, 1997, p. 26). 

Total gold output recovered in Guyana following the

temporary closure of Cambior’s Omai gold mine in August

1995; a tailings pond wall had failed, which had resulted in the

release of several million cubic meters of cyanide-bearing

effluent into the nearby Omai and Essequibo Rivers. The mine

remained closed throughout the entire second half of 1995, then

reopened in February 1996 and produced about 8 tons (255,000

ounces) of gold.

Oceania.—Gold production in Papua New Guinea declined

for the fourth consecutive year, although at a slower rate than

that of 1995. Output at Placer Pacific Ltd.’s Porgera Mine

recovered after 3 years of decline, and reserves were

significantly expanded during 1996, but this increase was not

sufficient to offset falling output at Placer Pacific Ltd.’s Misima

Mine. At the Ok Tedi Mine, the legal battle over compensation

claims flowing from a spillage accident in 1994 was finally

settled during 1996, but production had not returned to former

levels. Nonetheless, the country’s gold industry was beginning

to recover, as shown by renewed interest in projects at Wau and

in Hidden Valley; in the Porgera Mine, in which Placer Dome

secured a much larger interest in the mine; and in the Lihir Gold

Ltd.’s successful effort to raise capital (Murray and others,

1997, p. 27). 

In Indonesia, gold output was estimated to have risen by

3.5% in 1996 and to have nearly quadrupled since 1991.

Freeport Indonesia Inc. recovered slightly more than 52 tons

(1.67 million ounces) of byproduct gold at its Grasberg/Ertsberg

copper-gold mine in West Irian, and PT Kelian Equatorial

Mining significantly increased its production of gold at the

Kelian Mine in East Kalimantan. Gold exploration activities

continued to increase, especially in Kalimantan, where Canada’s

Bre-X Minerals Ltd. of Calgary reported a major discovery at its

Busang Project, which, it claimed, could possibly host several

hundred metric tons of gold. Analysis of seven core holes

Russia and the former Soviet Union.—Of the independent

gold-producing countries resulting from the dissolution of the

U.S.S.R. in late 1991, Russia is by far the largest producer in

terms of output and number of operations, as well as areal

distribution. The majority of Russia’s production derives from

formerly State-owned enterprises and worker’s cooperatives,

known as artels, which principally exploit placer deposits

scattered throughout Siberia and the Russian Far East.

Production in Russia fell 9% to 120 tons (3.8 million ounces)

of gold. This decline reflects the continued financial crisis

prevailing in the country, which affected 28 of the 30 goldproducing regions; in Krasnoyarsk and the Altai territory output

improved marginally. In contrast to the poor performance in

Russia, production in Uzbekistan increased by almost 3%. This

modest increase was largely as a result of Newmont Gold Co.’s

efforts at Zarafshan, where about 218 million tons of low-grade

stockpiled material had accumulated over 27 years of mining at

the Muruntau Mine, the largest open-pit gold mine in the world

(Murray and others, 1997, p. 25).

South Africa.— In 1970, the continent of Africa was the

source of 81.8% of the world’s gold output, but with the

increase in production in North America and Australia, Africa’s

share had declined to only 26.6% in 1996. Gold production in

South Africa, the world’s largest gold-producing nation,

declined for the third consecutive year to 498 tons (18.6 million

ounces) of gold, more than 5% lower than that of 1995.

Problems related to repeated labor disruptions, escalating costs,

and declining ore grades continued to plague South Africa’s

gold-mining industry and combined to drive gold output down,

bringing the cumulative decline in production from South

African mines since 1993 to more than 20%.

The tonnage and grade of ore milled during 1996 by the

nearly three dozen mines composing the membership of the

Chamber of Mines of South Africa amounted to nearly 94

million tons at a grade of 4.91 grams per ton of gold; this

compares with a similar total tonnage of 99 million tons, which

was at the lower grade of 4.87 grams per ton, milled by

Chamber members in 1995.

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

1996, 6 were South African. Anglo American Corp. of South

Africa Ltd. (AAC) remained the leading gold-producing

company in the world. AAC owns the Freegold and the Vaal

Reefs Mines. Gold Fields of South Africa Ltd. (GFSA) dropped

from second in the world to third. GFSA owns the Driefontein

and Kloof Mines. The other four companies were Gencor Ltd.
U.S. GEOLOGICAL SURVEY—MINERALS INFORMATION—1996 7

(8th); Randgold and Exploration Co. Ltd. (10th); Johannesburg

Consolidated Investment Co. Ltd. (11th); and Anglovaal Ltd.

(13th) (Murray and others, 1997, p. 18). 

Outlook

 Gold remains an internationally traded metal, but unlike

most commodities bound by the traditional laws of market

supply and demand, it also serves as a trusted repository of

wealth, a storehouse of value, held by investors and

Governments alike. In recent years, average annual gold prices

have remained in a rather tight range, but for the short term, the

price is expected to drop. The main reason for the decrease is

the threat of central bank gold sales. The Dutch government World Gold Council, 1996, Gold jewelry retail sales annual report for 1996:

was a key catalyst last year, selling one-third of its reserves (300

tons of gold). Although the sales of reserve gold are not

expected to be excessive, central banks continuing to be net

sellers of gold bullion could set a limit to any price rallies that

may develop over the next year.

References Cited

Battle Mountain Gold Co., 1997, Battle Mountain 10K, U.S. Securitiesand

Exchange Commission: Washington, DC, p. 7.

Beamish, Marilyn, Cox, David, Fox, Debbie, Lowery, Jim, Sanford,

Heather,Slaunwhite, Janice, and Selva, Selva, 1996, Analysis of worldwide

exploration expenditures: Halifax, Canada, Metals Economics Group

Strategic Report, v. 9, no. 5, September-October, p. 1-5.

Consolidated Nevada Goldfields Corporation, 1996, Consolidated Nevada

Goldfields Corporation annual report 1996: Denver, CO, p. 11.

Couturier, G., 1997, Gold: Advanced copy of Ch. from Canadian Minerals

Yearbook—1996, 29 p.

diGesu, Dominique, Beamish, Marilyn, Burgess, Sindy, Cox, David, Fox,

Debbie, Lowery, Jim, Slaunwhite, Janice, and Selva, Selva, 1997, Current

U.S. gold production: Halifax, Canada, Metals Economics Group Strategic

Report, v. 10, no. 3, May-June, p. 9-18.

Engineering & Mining Journal, 1996a, This month in mining: Engineering &

Mining Journal, v. 197, no. 8, August, p. 32,53.

———1996b, This month in mining: Engineering & Mining Journal, v. 197,

no. 9, September, p. 32.

Golden Cycle Gold Corp., 1997, Golden Cycle Gold Corp. annual report 1996:

Colorado Springs, CO, p. 1.

Hecla Mining Co., 1996, Greens Creek starts up, HECLA’s Lucky Friday

reports positive news: Coeur d’Alene, ID, Hecla Mining Co., news release,

July 29, 2 p.

McCulloch, Robin B., 1997, Annual review 1996—State activities—Montana:

Mining Engineering., v. 49, no. 5, May, p. 62-65.

Murray, Stewart, Klapwijk, Philip, le Roux, Hester, and Walker, Paul, 1997,

Gold 1997: Gold Fields Mineral Services Ltd., 71 p.

Newmont Gold Co., 1997, Newmont annual report 1996: Denver, CO, p. 9.

Platt’s Metals Week, 1996, Anchor Hill gold project gets OK: Platt’s Metals

Week, v. 67, no. 6, January 29, p. 12.

Swainbank, R.C., Bundtzen, T. K., Clough, A.H., and Henning, M.W., 1997,

Alaska’s mineral industry 1996: Alaska Division of Geology and

Geophysics Survey Special Report 51, September, 75 p.

Thomas, Paul R., and Boyle, Jr., Edward H., 1986, Gold availability appraisal:

U.S. Bureau of Mines Information Circular 9070, p. 6. 

TVX Gold Inc., 1997, TVX Gold Inc.’s 1996 annual report: Toronto, Ontario,

p. 10.

USMX, Inc., 1996a, Progress at Illinois Creek: Lakewood, CO, USMX, Inc.,

press release, August, 2 p.

———1996b, Reclamation going smoothly at Goldstrike: Lakewood, CO,

USMX, Inc., The USMX update, August, p. 2. 

———1996c, USMX announces that it has decided to defer commencement of

gold production at its Illinois Creek, Alaska gold mine: Lakewood, CO,

USMX, Inc., press release, November 14, 1 p.

———1996d, USMX, Inc. receives exclusive exploration permit on 13,380

acres in the Ophir district, Alaska: Lakewood, CO, USMX, Inc., news

release, July 18, 1 p.

———1996e, USMX, Inc. Updates status of Illinois Creek Project: Lakewood,

CO, USMX, Inc., press release, January 2, 2 p.

Wall Street Journal, 1997, Bre-X files for shield from creditors: Wall Street

Journal, May 9, p. A3.

World Gold Council, p 2.

———1997, Dutch sale: World Gold Council Gold Notes & Quotes, v. 5, no.

1, p. 1.

SOURCES OF INFORMATION

U.S. Geological Survey Publications

Gold. Ch. in Mineral Commodity Summaries, annual.2

Gold. Ch. in Minerals Yearbook, annual.2

Gold. Ch. in United States Mineral Resources, U.S.

Geological Survey Professional Paper 820, 1973.

Precious Metals. Mineral Industry Surveys, monthly.2

Principal Gold-Producing Districts of the United States, U.S.

Geological Survey Professional Paper 610, 1968.

Other 

American Metal Market, daily.

Canadian Mines Handbook 1995-96.

Engineering and Mining Journal, monthly.

Jewelers’ Circular-Keystone, monthly.

Mineral Facts and Problems, U. S. Bureau of Mines Bulletin

675, 1985.

Mining Journal, biweekly.

Platt’s Metals Week, weekly.

Randol Mining Directory 1994-95.

The Mining Record, weekly.

The Northern Miner, weekly.

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

of Mines Special Publication SP 24-94, 1994.

Where used by itself elsewhere in this report, ounce refers to troy ounce; 1

1

kilogram of gold is equivalent to 32.1507 troy ounces.

Prior to January 1996, published by the U.S. Bureau of Mines. 2
TABLE 1

SALIENT GOLD STATISTICS 1/

1992 1993 1994 1995 1996

United States:

 Mine production kilograms 330,000 331,000 327,000 317,000 r/ 321,000

 Value thousands $3,660,000 $3,840,000 $4,050,000 $3,950,000 r/ $4,027,000

 Gold recovered by cyanidation:

 Extracted in vats, tanks, and closed containers 2/ kilograms 178,000 177,000 169,000 155,000 158,000

 Leached in open heaps or dumps 3/ do. 120,000 128,000 119,000 124,000 131,000

 Refinery production:

 Ores, concentrates and dore do. 284,000 243,000 241,000 4/ (4/) (4/)

 Recycled materials (new and old scrap) do. 163,000 152,000 148,000 4/ (4/) (4/)

 Imports for consumption:

 Refined do. 141,000 130,000 96,400 111,000 143,000

 Exports:

 Refined do. 257,000 658,000 334,000 277,000 406,000

 Net deliveries from foreign stocks in

 Federal Reserve Bank of New York do. 136,000 582,000 217,000 244,000 373,000

 Stocks, Dec. 31:

 Industry 5/ do. 36,700 34,400 32,700 4/ (4/) (4/)

 Commodity Exchange (Comex) 6/ do. 46,500 78,500 49,100 45,400 20,700

 Department of the Treasury 7/ metric tons 8,150 8,140 8,140 8,140 8,140

 Volume of U.S. Gold Futures Trading 8/ do. 18,700 25,500 26,400 24,200 14,300

 Department of the Treasury: 9/

 American Eagle gold coin kilograms 11,100 21,800 10,900 13,900 10,700

 Other Numismatic gold coins do. 965 2,250 852 1,150 1,190

 Consumption in industry and the arts do. 110,000 91,400 76,100 4/ (4/) (4/)

 Apparent demand, refined 10/ do. 357,000 363,000 294,000 4/ (4/) (4/)

 Price: Average per troy ounce 11/ $345.00 $361.00 $385.00 $386.00 $389.00

 Employment, mine and mill only 12/ 14,800 14,700 14,100 14,700 16,900

 World:

 Production, mine kilograms 2,260,000 r/ 2,260,000 r/ 2,240,000 r/ 2,220,000 r/ 2,250,000 e/

 Official bullion reserves 13/ metric tons 35,100 34,900 34,800 34,600 34,400

e/ Estimated. r/ Revised. 

1/ Data are rounded to 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/ Data under review.

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

6/ Comex Division of the New York Mercantile Exchange.

7/ Includes gold in Exchange Stabilization Fund.

8/ Comex only.

9/ Sales to market in fiscal year 1990; thereafter, bullion disbursements to U.S. Mint coin programs. Fiscal year begins Oct. 1, of year prior to year indicated.

10/ Defined as refinery production from primary materials + refinery production from old scrap + net bullion flow to market from foreign stocks at the New York Federal

Reserve Bank + net imports of bullion. Assumed to include gold held for investment purposes. Excludes gold contained in fabricated items, imported coins, and official

monetary gold.

11/ Engelhard Industries quotation.

12/ Data from Mine Safety and Health Administration.

13/ Held by central banks and 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 1995 1996

Alaska 2/ 4,410 5,020

Arizona 1,920 1,740

California 25,600 r/ 23,800

Idaho 8,850 10,800

Montana 12,400 9,110

Nevada 210,000 r/ 213,000

Other States 3/ 53,700 57,500

 Total 317,000 r/ 321,000

r/ Revised. 

1/ Data are rounded to three significant digits; may not add to totals shown.

2/ Production data collected by the State. 

3/ Includes Colorado, New Mexico, South Carolina, South

Dakota, Utah, Washington, and Wisconsin.

TABLE 3

TWENTY-FIVE LEADING GOLD-PRODUCING MINES IN THE UNITED STATES IN 1996, IN ORDER OF OUTPUT

Rank Mine County and State Operator Source of gold

1 Goldstrike Eureka, NV Barrick Gold Corp. Gold ore.

2 Carlin Mines Complex do. Newmont Gold Co. Do.

3 Bingham Canyon Salt Lake, UT Kennecott-Utah Copper Corp. Copper ore.

4 Twin Creeks Humboldt, NV Santa Fe Pacific Gold Corp. Gold ore.

5 Smokey Valley Common Operation Nye, NV Round Mountain Gold Corp. Do.

6 Homestake Lawrence, SD Homestake Mining Co. Do.

7 Jerritt Canyon (Enfield Bell) Elko, NV Independence Mining Co. Do.

8 McCoy/Cove Lander, NV Echo Bay Mines Do.

9 Lone Tree Humboldt, NV Santa Fe Pacific Gold Corp. Do.

10 Bullfrog Nye, NV Barrick Gold Corp. Do.

11 Mesquite Imperial, CA do. Do.

12 McLaughlin Napa, CA Homestake Mining Co. Do.

13 Florida Canyon Lander, NV Pegasus Gold Inc. Do.

14 Cresson Teller, CO Cripple Creek & Victor Do.

15 Getchell Humboldt, NV FirstMiss Gold Inc. Do.

16 Cortez Lander, NV Placer Dome (U.S.) Inc. Do.

17 Castle Mountain San Bernardino, CA Viceroy Gold Corp. Do.

18 Ridgeway Fairfield, SC Kennecott Ridgeway Mining Co. Do.

19 Denton-Rawhide Mineral, NV Kennecott Rawhide Mining Co. Do.

20 Kettle River Ferry, WA Echo Bay Mines Ltd. Do.

21 Golden Sunlight Jefferson, MT Placer Dome (U.S.) Inc. Do.

22 Beartrack Lehmi, ID Meridan Gold Co. Do.

23 Bald Mountain White Pine, NV Placer Dome Inc. Do.

24 Hayden Hill Lassen, CA Amax Gold Inc. Do.

25 Wharf Lawrence, SD Wharf Resources Ltd. Do.
TABLE 4

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

Ores and concentrates 3/ Dore and precipitates Refined bullion Total Waste and scrap

Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value

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

1995 352 $3,480 69,700 $841,000 277,000 $3,360,000 347,000 $4,210,000 82,400 $762,000

1996:

 Belgium -- -- -- -- 3,300 41,100 3,300 41,100 1,870 26,500

 Canada 264 2,470 17,500 193,000 5,610 64,600 23,400 260,000 44,000 265,000

 France 3 28 16 180 1 8 20 216 30,000 374,000

 Germany 80 1,080 -- -- 3,430 42,300 3,510 43,400 3,090 44,300

 Hong Kong -- -- -- -- 8,180 100,000 8,180 100,000 -- --

 Israel -- -- 59 368 -- -- 59 368 -- --

 Italy 1 6 -- -- 40 410 41 416 330 4,130

 Japan -- -- 505 6,190 5,080 63,200 5,580 69,400 58 691

 Korea, Republic of -- -- -- -- 27,300 343,000 27,300 343,000 -- --

 Mexico 1 13 353 4,460 4,300 46,100 4,660 50,600 -- --

 Netherlands -- -- 2 29 797 9,870 799 9,900 -- --

 Peru -- -- -- -- 420 4,990 420 4,990 -- --

 Singapore 2 10 -- -- 10 91 12 101 3 15

 South Africa -- -- -- -- 1,990 24,600 1,990 24,600 -- --

 Sweden 20 111 -- -- -- -- 20 111 1,760 25,300

 Switzerland -- -- 28,300 324,000 167,000 2,030,000 195,000 2,360,000 17 135

 Taiwan -- -- -- -- 5,660 70,300 5,660 70,300 179 633

 Turkey -- -- -- -- 227 2,770 227 2,770 -- --

 United Arab Emirates -- -- -- -- 8 90 8 90 -- --

 United Kingdom 3 12 18,200 168,000 172,000 2,160,000 191,000 2,330,000 8,620 112,000

 Other 1 1 -- -- 186 1,980 187 1,980 -- 7

 Total 375 3,730 65,100 696,000 406,000 5,010,000 471,000 5,710,000 89,900 853,000

1/ Data are rounded to three significant digits; may not add to totals shown.

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

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

Source: Bureau of the Census.
TABLE 5

U.S. IMPORTS FOR CONSUMPTION OF GOLD, BY COUNTRY 1/ 2/

Ores and concentrates 3/ Dore and precipitates Refined bullion Total Waste and scrap

 Year and country Quantity Value Quantity Value Quantity Value Quantity Value Quantity Value

(kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands) (kilograms) (thousands)

1995 5,020 $53,900 9,820 $92,600 111,000 $1,360,000 126,000 $1,510,000 14,400 $123,000

1996:

 Antigua and Barbuda -- -- -- -- -- -- -- -- 466 5,300

 Argentina -- -- -- -- 170 2,090 170 2,090 -- --

 Australia -- -- -- -- 350 4,340 350 4,340 --

 Austria (4/) (4/) -- -- -- -- (4/) (4/) 1 12

 Bolivia -- -- -- -- 398 5,040 398 5,040 123 925

 Brazil -- -- -- -- 18,300 229,000 18,300 229,000 -- --

 Canada 151 1,190 1,770 16,900 77,500 972,000 79,400 990,000 1,420 11,000

 Chile -- -- 2,460 15,100 7,360 92,200 9,810 107,000 419 6,480

 China -- -- -- -- -- -- -- -- 58 640

 Colombia -- -- -- -- 16,100 198,000 16,100 198,000 10 138

 Costa Rica 7 92 -- -- 100 1,040 107 1,130 784 7,190

 Dominican Republic -- -- -- -- 690 5,540 690 5,540 4,380 29,600

 Ecuador -- -- 263 3,240 444 5,480 707 8,720 183 1,080

 Estonia -- -- -- -- -- -- -- -- 40 488

 Germany -- -- -- -- 714 5,390 714 5,390 104 465

 Guyana -- -- -- -- 53 625 53 625 -- --

 Korea,Republic of -- -- -- -- 100 1,220 100 1,220 20 223

 Malaysia -- -- -- -- -- -- -- -- 530 2,900

 Mexico 3,240 40,100 6,700 70,200 8,020 99,500 18,000 210,000 1,840 11,900

 Netherlands Antilles -- -- -- -- 1,960 24,300 1,960 24,300 -- --

 Nicaragua -- -- -- -- 401 5,030 401 5,030 1 8

 Panama -- -- 294 3,700 465 4,400 759 8,100 145 1,020

 Peru -- -- 113 1,380 2,130 24,600 2,240 26,000 1,160 11,800

 Philippines -- -- 7 175 -- -- 7 175 299 2,470

 Russia 62 775 2 20 70 576 134 1,370 44 396

 South Africa -- -- -- -- 1,070 13,200 1,070 13,200 -- --

 Suriname -- -- -- -- 618 8,480 618 8,480 -- --

 Switzerland -- -- 60 901 3,500 44,400 3,560 45,300 2 29

 Taiwan -- -- -- -- -- -- -- -- 193 1,730

 Trinidad and Tobago -- -- -- -- -- -- -- -- 43 125

 United Kingdom -- -- 267 5,890 803 10,000 1,070 15,900 14 103

 Uruguay -- -- -- -- 1,040 12,300 1,040 12,300 159 3,080

 Venezuela -- -- -- -- 873 10,300 873 10,300 44 514

 Other -- -- -- -- 174 2,170 174 2,170 968 8,040

 Total 3,460 42,200 11,900 117,000 143,000 1,780,000 159,000 1,940,000 13,000 102,000

1/ Data are rounded to three significant digits; may not add to totals shown.

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

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

4/ Less than 1/2 unit.

Source: Bureau of the Census.
TABLE 6

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

(Kilograms)

Country 1992 1993 1994 1995 1996 e/

Argentina 1,300 r/ 937 937 r/ 837 r/ 850

Armenia e/ 500 200 100 300 r/ 250

Australia 243,000 e/ 247,196 256,188 253,504 289,000

Belize e/ 5 2 5 5 5

Bolivia 4,688 10,423 12,838 14,405 12,500

Botswana 165 192 248 86 90

Brazil 3/ 85,862 74,219 70,535 62,424 r/ 62,500

Bulgaria e/ 2,000 2,000 2,000 2,000 2,000

Burkina Faso e/ 5,400 5,000 4,000 r/ 3,000 r/ 4,000

Burundi e/ 32 20 20 10 10

Cameroon e/ 10 10 560 4/ 1,000 r/ 1,000

Canada 161,402 152,929 146,428 150,967 r/ 164,136 p/

Central African Republic 155 153 r/ 138 r/ 120 r/ e/ 90

Chile 33,774 33,638 38,786 39,180 39,600

China e/ 125,000 130,000 132,000 140,000 145,000

Colombia 32,118 27,471 r/ 20,762 21,160 22,064 4/

Congo e/ 5 4/ 5 5 5 5

Costa Rica e/ 550 600 358 4/ 500 500

Cote d'Ivoire 2,800 3,100 1,860 r/ 1,983 r/ 2,000

Dominican Republic 3,813 366 595 3,288 3,300

Ecuador e/ 5/ 12,300 12,500 13,000 15,500 15,000

Eritrea XX XX 78 59 98 4/

Ethiopia 6/ 2,224 3,387 2,370 4,500 5,000

Fiji 3,701 3,784 3,440 3,477 r/ 4,790 4/

Finland 1,595 1,385 1,372 1,400 e/ 2,100

France 2,910 2,155 r/ 4,009 4,615 r/ 4,500

French Guiana (Guyane) e/ 2,140 4/ 2,800 r/ 2,270 r/ 3,000 r/ 4/ 3,000

Gabon e/ 7/ 70 120 72 70 70

Georgia e/ 1,500 1,000 600 500 500

Ghana 31,032 39,235 44,505 52,200 e/ 50,100

Guatemala e/ 32 4/ 30 30 30 30

Guinea 2,113 1,500 r/ 5,617 6,911 r/ 7,000

Guyana 2,475 9,614 11,811 9,331 r/ 12,441 4/

Honduras 163 111 106 110 e/ 142 4/

India 8/ 1,762 2,003 2,244 2,300 e/ 2,500

Indonesia 9/ 37,983 42,097 42,600 62,800 e/ 65,000

Iran 500 e/ 417 723 650 650

Japan 8,893 9,352 9,551 9,185 8,627 4/

Kazakstan e/ 10/ 24,000 25,000 26,000 26,000 21,000

Kenya e/ 20 154 4/ 155 170 170

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

Korea, Republic of 8/ 23,263 25,000 e/ 12,332 13,418 r/ 14,096 4/

Kyrgystan e/ 1,000 1,000 3,000 r/ 4,500 r/ 5,000

Liberia e/ 700 700 500 500 700

Madagascar e/ 500 500 500 500 500

Malaysia 3,513 4,462 4,085 3,161 2,830 4/

Mali e/ 5,700 5,500 5,500 7,800 8,000

Mexico 9,891 11,100 13,888 20,292 22,000

Mongolia e/ 900 1,200 2,000 4,800 5,300

Mozambique 296 149 336 900 e/ 1,000

Namibia 2,025 1,954 2,394 1,893 r/ 2,015 4/

New Zealand 10,531 11,161 10,118 r/ 12,132 r/ 12,500

Nicaragua 1,322 1,240 1,073 1,600 e/ 1,600

Niger e/ 1 1 1 1 1

Panama e/ 250 4/ 255 245 1,100 1,200

Papua New Guinea 71,190 60,587 58,654 r/ 51,701 r/ 51,573 4/

Peru 24,242 r/ 30,318 r/ 46,313 r/ 11/ 57,744 r/ 11/ 64,786 4/ 11/

Philippines 25,609 21,155 27,059 27,144 20,000

Portugal e/ 89 -- -- -- --

Romania e/ 3,700 4,000 4/ 4,000 4,000 4,000

Russia 146,000 149,500 146,600 132,170 120,000

Rwanda e/ 1,000 1,000 100 100 50

Saudi Arabia 6,150 7,519 7,630 8,080 8,200

Senegal e/ (12/) (12/) (12/) (12/) (12/)

See footnotes at end of table.
TABLE 6--Continued

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

(Kilograms)

Country 1992 1993 1994 1995 1996 e/

Serbia and Montenegro 7,330 3,325 2,504 r/ 3,040 r/ 3,000

Sierra Leone 13/ 92 157 125 4 r/ 16 4/

Solomon Islands e/ 25 20 5 1 1

South Africa 614,071 619,201 580,201 523,809 r/ 497,583 4/

Spain 6,582 6,083 5,852 3,308 r/ 3,000

Sudan e/ 1,000 1,600 3,000 r/ 3,700 r/ 3,700

Suriname e/ 300 300 300 300 300

Sweden 6,164 6,548 6,364 6,528 r/ 6,500

Taiwan 8/ 2 2 5 4 e/ 4

Tajikistan e/ 1,700 1,600 1,500 1,500 1,500

Tanzania 3,200 3,364 2,549 44 100

Turkey 14/ 1,250 1,110 996 e/ 1,000 e/ 1,000

United States 330,000 331,000 327,000 317,000 r/ 321,000

Uruguay e/ 300 300 300 900 900

Uzbekistan e/ 70,000 70,000 70,000 70,000 r/ 72,000

Venezuela 7,553 8,899 10,094 7,259 12,000 p/

Zaire e/ 9,000 1,500 r/ 800 r/ 600 r/ 1,000

Zambia 15/ 271 235 124 100 r/ e/ 130

Zimbabwe 18,278 18,916 20,512 23,959 r/ 24,772 4/

 Total 2,260,000 r/ 2,260,000 r/ 2,240,000 r/ 2,220,000 r/ 2,250,000

e/ Estimated. p/ Preliminary. r/ Revised. XX Not applicable.

1/ World totals, U.S. data, and estimated data are rounded to three significant digits; may not add to totals shown.

2/ Table includes data available through July 15, 1997.

3/ Officially reported figures are as follows, in kilograms: Major companies: 1992--39,044; 1993--39,894; 1994--40,188; 1995--40,951 (revised);

and 1996--41,000 (estimated). Garimpos 1992--37,000 (revised); 1993--30,000 (revised); 1994--30,347 (revised); 1995--21,473 (revised); and

1996--21,500 (estimated).

4/ Reported figure.

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 byproduct gold production. Primary gold production; in kilograms: 1994--14,483; 1995--18,200 (revised); and 1996--12,000.

11/ Includes documented production from small artisanal production.

12/ Less than 1/2 unit.

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

14/ Indicates byproduct of base metals.

15/ Year beginning Apr. 1 of that stated. Byproduct of copper production by Zambia Consolidated Ltd. only. Some additional artisanal production

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