GOLD

Production and uses of gold

Production

Table II, World gold production

Country Average annual production for years 1971-1975 (oz x 10⁶)

South Africa 27.5

Russia 10.5

Canada 1.9

United States 1.5

Australia 0.8

Ghana 0.7

Others 6.0

Total 48.9

Sources; US Department of the Interior, Minerals Yearbook (1971-1975); Mining Annual Review (1971-1975); Canadian Mining Journal, Annual Mineral Industry Review (February issue) (1971-1975); Department of Energy, Mines and Resources, Canadian Minerals Yearbook (1971-1975). The figure given for the Russia is estimated.

Uses

The historical uses of gold are of interest: From the dawn of civilization until about 1000 B.C. the uses were restricted mainly to ornamentation, decoration and the display of princely power. This has often been called the decorative or ornamentative stage in the history of the precious metal. After 1000 B.C. gold came into general use as money and freely circulated until about 1916. This was the monetary stage in the history of the metal, although considerable amounts continued to be used for ornamental purposes. After World War I the movement of gold and its use as money was greatly curtailed and eventually restricted in many countries, most of the metal, except that permitted for the manufacture of jewellery, going straight from the mints into the vaults of most countries. This period continues to the present day, although there has been a relaxation in a number of countries that permit their citizens to own and trade in the metal. Since 1950 there has been increased industrial use of gold - sufficient it would seem to suggest that we are entering the industrial age in the history of the metal.

Specifically, the uses of gold depend essentially on its traditional role as a monetary measure by governments and central banks in the settlement of international balances; on its intrinsic quality as the most beautiful of metals; and on its chemical inertness, great malleability and high electrical and thermal conductivity. In its international monetary role gold is utilized mainly in the form of high purity bars, tablets or more rarely as coins with a specified gold content. In its other roles the metal is employed in the pure form or alloyed with other metals such as silver, copper and the platinum metals.

Gold in: Primitive Classic Medieval Renaissance post-Renaissance period.

Gold: Deposits Transport 1 2 3 4 5 6 Production 1 2 3 4 5

Rafal Swiecki, geological engineer email contact
February, 2008

This document is in the public domain.