CNBC: Gold is Getting Harder to Find as Miners Struggle to Excavate More, World Gold Council Says
Article by Lee Ying Shan in CNBC
The gold mining industry is struggling to sustain production growth as deposits of the yellow metal become harder to find, according to the World Gold Council.
"We've seen record first quarter mine production in 2024 up 4% year on year. But the bigger picture, I think about mine production is that, effectively, it plateaued around 2016, 2018 and we've seen no growth since then," WGC Chief Market Strategist John Reade said.
According to data from the international trade association, mine production inched up only 0.5% in 2023 compared to a year ago.
In 2022, the growth was 1.35% year on year, the year before it was ......