Brazilian gold production predicted to rise
28 November 2014 - 3:34AM
Property
Brazil’s gold production is predicted to rise in
the coming years, as mines are expanded and new projects are
launched.The country’s "significant amount" of existing gold
reserves currently total 2,400 tonnes, according to a new report,
titled Precious Metals Mining in Brazil to 2020. Production from
gold mines totalled an estimated 2.7 million ounces last year, with
the metal primarily sourced by mines in the states of Para and
Minas Gerais. (The country also has significant silver reserves,
with mine production totalling an estimated 732,000 ounces last
year, also driven by mines in Para and Minas Gerais.)Brazil’s gold
production is forecast to grow by a further 3.5 per cent by 2020.
Indeed, the mining industry is already a major driver of the
Brazilian economy, employing 16,000 workers and contributing 4 per
cent of GDP. New precious metal mining projects anticipated in the
coming years include the Cristalino project of the Banco Nacional
de Desenvolviment Economico e Social and Vale SA.Brazilian gold
mine, Minas Gerais Photo: Leandro’s World Tour
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