Page 50 - Bullion World Volume 03 Issue 07 July 2022

Bullion World | Volume 2 | Issue 07 | July 2022

Global silver production recovery
to continue in 2022
Overall, global silver mine production over
the 2022-2026 period is forecast to grow at
a compound annual growth rate (CAGR) of
1.3% to reach 945.8Moz in 2026. After four
consecutive annual declines, global silver
production recovered in 2021, growing by 5.3%
to 884.5 million ounces (Moz). This rise was linked
to post-pandemic recoveries, as most mines
could operate at total capacity throughout that
year. Output from Peru (+21.5%) and Mexico
(+9.2%) significantly contributed to the overall
growth. In addition, 38.7% growth was observed
in Bolivia, while there were significant declines in
production in Chile (-13.1%), Russia (-8.6%), and
Kazakhstan (-5%).
Source: https://www.mining-technology.com

S. Africa's Gold Fields to become fourth biggest gold
miner with Yamana deal
South Africa's Gold Fields (NYSE: GFI) Ltd is set to become
one of the four biggest gold miners in the world after agreeing
to acquire Canada-based Yamana Gold (NYSE: AUY) in a $6.7
billion all-share deal, the biggest in the region in years. Shares
in the South Africa-listed mining company fell 20%, though
investors voiced concern about dilution on a call with Gold Fields
CEO Chris Griffith and Yamana CEO Peter Marrone. Yamana
shares rose 8.6% on the deal and were last up 4.2%.
Source: https://www.investing.com

Egypt tops central bank gold purchases so far in 2022
Gold holdings of central banks expanded in April by 19.4
tonnes, driven primarily by purchases in specific markets.
Central banks in Uzbekistan, Kazakhstan, and Turkey were the
significant buyers during the month, adding 8.7 tonnes, 5.3
tonnes, and 5.6 tonnes to their gold reserves, respectively.
However, Egypt emerged as the largest gold buyer on a year-to-
date basis.
Source: https://www.zawya.com

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