[miningmx.com] – A SIX-year expansion in gold production is forecast to grind to a halt in 2017, according to an article by Bloomberg News which was republished in BDLive on April 7.
Citing analysts, the newswire said that there would be “sharp declines” in global gold output in 2017 after reaching a record high this year. Production in 2014 was 3,114 tonnes, a record high valued at about $127bn, said Bloomberg News.
The big question is how fast supply will start falling,” said Natixis analyst Nic Brown. “We don’t think we are going to see sharp declines until at least 2017.”
Capital spending, which covers maintenance and exploration, has fallen about 50% since 2012, according to data from Bloomberg Intelligence.
Ten of the world’s major producers posted a combined loss of $6.9bn in 2014, compared with combined profit of $11.3bn in 2010.
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