About Mining Builds British Columbia
Everything used by British Columbians in their everyday lives is either grown or found in the ground. The Mining Builds British Columbia Series covers six essential areas of life where materials derived from mining make a big impact. How does mining heal BC? Without materials such zinc, gold, lead, and molybdenum, modern health would be near impossible. Hospitals and doctors rely on many materials based on metals and minerals that are needed for instruments, equipment, and facilities that are needed for healing. on The lack of discoveries, alongside stagnating gold production, has cast a shadow of doubt on the future of gold supply. This infographic sponsored by Novagold highlights the need for new gold mining projects with a focus on the company’s Donlin Gold project in Alaska.
The Current State of Gold Production
Between 2010 and 2021, gold production increased steadily until 2018, before leveling and falling. Along with a small decrease in gold production from 2020 levels, there were no new major gold discoveries in 2021. Meanwhile, annual demand for the yellow metal increased by 10%, up from 3,651 tonnes to 4,020 tonnes. The fall in production and long-term lack of gold discoveries point towards a possible imbalance in gold supply and demand. This calls for the introduction of new gold development projects that can fill the supply-demand gap in the future.
Sustaining Supply: Gold For the Future
Jurisdictions play an important role when looking for projects that could sustain gold production well into the future. From political stability to trustworthy legal systems, the characteristics of a jurisdiction can make or break mining projects. Amid ongoing market uncertainty, political turmoil, and resource nationalism, projects in safe jurisdictions offer a better investment opportunity for investors and mining companies. As of 2021, seven of the top 10 mining jurisdictions for investment were located in North America, according to the Fraser Institute. Here’s a look at the top five gold-focused development projects in the region, based on measured and indicated (M&I) gold resources: *Inclusive of mineral reserves. **See cautionary statement regarding Donlin Gold’s mineral reserves and resources. Located in Alaska, one of the world’s safest mining jurisdictions, Novagold’s Donlin Gold project has the highest average grade of gold among these major projects. For every tonne of ore, Donlin Gold offers 2.24 grams of gold, which is more than twice the global average grade of 1.03g/t. Additionally, Donlin Gold is the second-largest gold-focused development project in the Americas, with over 39 million ounces of gold in M&I resources inclusive of reserves. Novagold is focused on the Donlin Gold project in equal partnership with Barrick Gold. Click here to learn more now.
