Porters Five Force Model
Gold Report - 2
Multi Commodity Exchange
Multi Commodity Exchange of India Ltd.
Malkani Chambers, 1st floor, Off. Nehru Road, Vile Parle (East), Mumbai – 400 099 Tel. No.: 022 – 2616 4146 Fax No.: 022 – 2611 8195 Web: www.mcxindia.com email: info@mcxindia.com
Gold Study
Gold Production Through History All the gold ever mined would easily fit under the Eiffel Tower, forming a cube of nearly 19 m each side! In the last 6,000 years a little over125,000 tonnes of gold has been mined. But this history is clearly divided into two eras - before and after the California gold rush of 1848. Some calculations suggest that up until then scarcely 10,000 tonnes of gold had been excavated since the beginning of time. Thus more than 90% of the world’s gold has been produced since 1848. Early gold mining by the Egyptians, from around 2000 BC, (in the areas which are now Egypt, the Sudan and Saudi Arabia), is thought to have produced no more than 1 tonne annually. Perhaps 5-10 were produced during the time of the Roman Empire, (mainly from Spain, Portugal and Africa), but in the Dark and Middle Ages (500-1400 AD) production, from the mountains of central Europe, probably fell back to less than a tonne. Throughout all this time gold was also being mined and worked in South America, where the goldsmith’s art reached very high standards. From the middle of the 15th century the Gold Coast of West Africa (now known as Ghana) became an important source of gold, providing perhaps 5-8 tonnes per year. In the early 16th century the Spanish conquests of Mexico and Peru opened up a further source of gold. By the close of the 17th century, 10-12 tonnes a year were provided by the Gold Coast and South America together. Gold was first discovered in Brazil in the mid-16th century but significant output did not emerge until the early 18th century. Towards the end of that century, considerable supplies began to come from Russia as well, and annual world production was up to 25 tonnes. By
Multi Commodity Exchange
Multi Commodity Exchange of India Ltd.
Malkani Chambers, 1st floor, Off. Nehru Road, Vile Parle (East), Mumbai – 400 099 Tel. No.: 022 – 2616 4146 Fax No.: 022 – 2611 8195 Web: www.mcxindia.com email: info@mcxindia.com
Gold Study
Gold Production Through History All the gold ever mined would easily fit under the Eiffel Tower, forming a cube of nearly 19 m each side! In the last 6,000 years a little over125,000 tonnes of gold has been mined. But this history is clearly divided into two eras - before and after the California gold rush of 1848. Some calculations suggest that up until then scarcely 10,000 tonnes of gold had been excavated since the beginning of time. Thus more than 90% of the world’s gold has been produced since 1848. Early gold mining by the Egyptians, from around 2000 BC, (in the areas which are now Egypt, the Sudan and Saudi Arabia), is thought to have produced no more than 1 tonne annually. Perhaps 5-10 were produced during the time of the Roman Empire, (mainly from Spain, Portugal and Africa), but in the Dark and Middle Ages (500-1400 AD) production, from the mountains of central Europe, probably fell back to less than a tonne. Throughout all this time gold was also being mined and worked in South America, where the goldsmith’s art reached very high standards. From the middle of the 15th century the Gold Coast of West Africa (now known as Ghana) became an important source of gold, providing perhaps 5-8 tonnes per year. In the early 16th century the Spanish conquests of Mexico and Peru opened up a further source of gold. By the close of the 17th century, 10-12 tonnes a year were provided by the Gold Coast and South America together. Gold was first discovered in Brazil in the mid-16th century but significant output did not emerge until the early 18th century. Towards the end of that century, considerable supplies began to come from Russia as well, and annual world production was up to 25 tonnes. By