Gold goes hand in hand with uncertainties

This development caused and still causes the interest of the big gold producers to grow. From a country perspective, China, Australia and Russia are the largest producers of gold. But also investors are increasingly concerned with the precious metal. Inflation will lead to higher mining costs, which could make gold more expensive. Around 3,000 tons of gold were mined in 2020 and 2021 respectively. For more than ten years, China has been at the top of the gold-producing countries, in 2021 it was about 370 tons that saw the light of day in China. At the same time, the country consumes the most gold jewelry. Australia produced about 330 tons of gold last year. Gold prospecting is particularly intense there in the Pilbara region of Western Australia. This is because major gold discoveries were made there in 2017. Russia has been able to increase its gold production in recent years (300 tons in 2021). Russia’s ambition is to become the world’s largest gold producer by 2029. Significantly less was produced by the fourth-placed country, the USA, with about 180 tons of gold.

A similar amount of gold came from Canada, mainly from Ontario and Quebec. These two provinces are responsible for more than 70 percent of total Canadian production. Canada, more specifically the Yukon, is home to Victoria Gold’s Dublin Gulch property – https://youtu.be/GQUfXk66k5w, which is wholly owned by the company. Gold production started in 2019. Fury Gold Mines – https://youtu.be/iPcFnyi7i3M – operates in two excellent mining regions of Canada. Several million ounces of gold distinguish the company’s gold platform.

The sixth largest gold producing country in 2021 was Ghana. This is the most prolific producer in Africa, which also scores with favorable production costs. Ghana has overtaken South Africa in recent years.

Current corporate information and press releases from Victoria Gold (https://www.resource-capital.ch/de/unternehmen/victoria-gold-corp/ ) and Fury Gold Mines (https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ ).

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

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