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GOLD PRODUCTION: More thoughts on Canada’s rating

It is not that the U.S. Geological Survey is untrustworthy, reader Doug Panagapko wrote, but rather perhaps its numbers were merely estimates of Canadian gold production. They were quoted in the July 30, 2012, edition of CMJ’s Daily...


It is not that the U.S. Geological Survey is untrustworthy, reader Doug Panagapko wrote, but rather perhaps its numbers were merely estimates of Canadian gold production. They were quoted in the July 30, 2012, edition of CMJ’s Daily Headline News. We wrote that Canada’s contribution to 2011 global gold production was 110 tonnes, and that caught Panagapko’s eye.

He wrote, “From statistics collected by surveys conducted by Natural Resources Canada, gold production in Canada in 2011 was 98.165 tonnes. In 2010 and 2009 production was 102.146 tonnes and 96.573 tonnes, respectively. I believe the statistics in the USGS mineral commodity summary publication are an estimate for Canada. Our gold output decreased slightly from 2010 due to reduced production at some mines. We expect that in the coming years, our production will increase as some new, large mines reach commercial production.

“I attach the latest production data for Canada, for your information.”

The document attached (upper right) to this item contains the numbers Panagapko supplied.


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