Gold-mining is of increasing importance to the deve-loping world in
providing wealth, export opportunity and infrastructure, according
to a May report issued by global gold advocate World Gold Council
(WGC).
WGC is funded by the world’s leading gold-mining companies.
It aims to promote the demand for gold in all its forms through
market- ing activities in major international markets.
The council’s ‘A Touch of Gold: Gold mining’s
importance to lower-income countries’, updates a 1999
publication which, for the first time examined the role of gold in
deve-loping countries and its importance to national
economies.
The 2005 report shows how gold-mining is increasing its prevalence
in the developing world, and how the yellow metal has become an
important export for heavily-indebted poor countstone crusher river bed materialries (HIPCs).
In addition, the report highlights the benefits, including the use
of local labour, additional government revenue, and the growth of
infrastructure, that gold-mining brings to a developing
country.
WGC CEO James Burton says the 1999 report highlighted to
policymakers the importance of gold – both in terms of
production and exports – to much of the developing world. The
latest report confirms this and, in fact, shows just how
highly-indebted countries can come to rely on gold-mining, he addssale cone crusher 2 ft cs in uk.
For example, studies indicate that each mining employee in South
Africa supports, on average, up to ten people. “Gold is
generally associated with the rich, and yet this latest report
proves that, in relative terms, it is actually much more important
to the poor.” Burton says the report also shows that export
revenue is not the only benefit gold-mining brings to a developing
country. The establishment of a formal mining industry has
frequently been one of the first steps in a country’s
industrial development, and often provides the critical mass frock crushing machine pricesor
the development of electricity, water, road and rail transport in a
region. Similarly, where possible, gold-mining companies source
supplies locally and employ local labour. Gold-mining also provides
royalty and tax income to governments, ensures technology transfer,
skilled employment and training for local populations, together
with further jobs through the multiplier effect. Burton concludes
by saying that the “gold industry is of tremendous and
growing importance to highly-indebted countries, and, in many
cases, is directly assisting with the growth iron ore crushing equpment pricingof both the industrial
infrastructure and a skilled workforce. As a result, the future
wealth and development of the world’s poorest nations is more
dependent than ever on a stable international market for
gold”.
It is possible the 2005 report will have the same impact the 1999
docu- ment had on perceptions held of the gold industry by
policymakers, the media and the public.
In particular, the 1999 study played a part in encouraging the
International Monetary Fund (IMF) to revalue, rather than sell, a
portion of its gold resedefinisi mesin pompa penyedot pasirrves for the purposes of debt relief
– as it is again considering.
This happened, according to the WGC, because the report showed that
sales of gold by the IMF might disadvantage some of the poor
countries the IMF was aiming to assist.
Findings of the 2005 report The new report shows that gold
production has increasingly shifted to developing countries.
Developing countries accounted for 72% of global output of gold in
2004, with low-income or lower-middle-income countries together
accounting for two-thirds of glo- bal output. If South Africa
(where production is on a long-term declining trend) is excluded,
gold output by developing countries rose by more than 50% over the
last decade. The strongest rise in output was seen in HIPCs, where
gold production rose by 84% between 1994 and 2004. Of the 38 HIPCs,
14 are significant gold producers with lesser production occurring
in a further 14 countries. As a result of the rising output of gold
from HIPCs, their dependence on gold exports has also increased
substantially, and gold is now one of the most important exports
for HIPCs as a whole. It accounted for nearly 8% of goods
(merchandise) exports and over 6% of exports of goods and services
for HIPCs in 2003. For the 14 significant producers, gold accounted
for 13% of goods exports and 10% of their exports of goods and
services. For example, gold is the leading export for Mali (59% in
2003), Tanzania (44%), Ghana (32%), Guyana (26%) and the second
most important for Guinea (23%). Gold is also a crucial export for
a number of other low-income and lower-middle-income countries. It
is the leading export for South Africa, Peru, Kyrgyzstan and Papua
New Guinea, and an important export for several others.