In 20 years, the world may run out of minable gold

DeepseekerADS

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In 20 years, the world may run out of minable gold - MarketWatch

Published: Mar 31, 2015 9:37 a.m. ET

By Myra P. Saefong
Markets/commodities reporter

Platinum, copper and nickel reserves only have about 40 years left

SAN FRANCISCO (MarketWatch) — In another two decades, rare commodities may become seriously scarce.

According to Goldman Sachs, the world has about 20 years’ worth each of known minable reserves of gold GCJ5, -0.18% diamonds and zinc. Platinum PLJ5, +2.16% copper HGK5, -1.51% and nickel reserves only have about 40 years or less left.

“The combination of very low concentrations of metals in the Earth’s crust, and very few high-quality deposits, means some things are truly scarce,” Eugene King, European metals and mining analyst at Goldman Sachs, wrote in a recent research note.

“Gold has been used as a measure of wealth for more than 4,000 years, as the ancient Egyptians soon worked out that gold was not only shiny and heavy, but rare,” he said.

All told, their “relatively scarcity and the market’s belief that new discoveries will be limited, is what drives the price of these super-rare commodities,” King said.

Making gold rarer still, production of gold may also hit a peak this year.

A Goldcorp GG, -0.60% slide show last year revealed a gold-mining-industry forecast that 2015 would be the year that production would peak in the mining industry, according to a piece in ZeroHedge, dated Friday.

“Peak gold is not a new concept at all,” said Peter Grant, an analyst at precious-metals dealer USAGOLD. “Mining output has been fairly flat for years, but new discoveries of gold have been falling rapidly.”

MW-DI672_gold_g_20150330153711_MG.jpg

Still, “if we do reach peak gold in the near future, one would logically expect this to be broadly supportive to the price of gold for years to come,” said Grant.
 

Marchas45

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Sorry Deepseekerads I just don't go along with the story. I believe there is plenty of minerals to be found yet, plus gold is not used that much in Industry as is silver, copper and other minerals are. So gold will be around for a long time. As Jim say's OMO Keep Stacking
 

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DeepseekerADS

DeepseekerADS

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Well my friend, I just piddle, and you paddle! Perhaps there's always sucker feeds.
 

el padron

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If they thought that was true, they very simply wouldn't tell you.
The general public has a very very short memory.
Thats why they deserve what they get. (What they are getting)
These people are in no position to advise on anything, they know nothing about building an honest business.

Their concept of work is managing a completely legal institutionalized ponzi scheme

After purposely losing there backs on Gold Producer securities and mortgage derivatives (that they themselves purposely contrived), then getting a free bail out by the Federal government to the tune of several billion, Goldman is using your money to hoard gold again.
 

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Gold Maven

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I have always heard estimates that only around 10% of the world's gold has been mined.

Pretty hard equation, without knowing exactly how much there is.
 

JackalopeZL1

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this report sounds more like a report bent on helping drive gold prices up. there is no way that we have evn began to tap into what is out there for gold to be found. IMO :)
 

Mad Machinist

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this report sounds more like a report bent on helping drive gold prices up. there is no way that we have evn began to tap into what is out there for gold to be found. IMO :)

EXACTLY!!!

Anything with Goldman-Sachs name on it is a pretty sure bet that it is to try and drive prices up for them to make a profit.

Now, if they would define what the term "minable" means, we might get somewhere. If we are talking about deposits that will last for 20+ years of mining, then we might have a problem. If we are talking about deposits that may only last for a few years of mining, then we have more than enough left.

Get ready for the return of the "small miner". I said it before and I'll say it again, what needs to be done is set up "centralized processors" to handle the output from "small mines". Ever wonder why I am working out a "portable trailer mounted" processing unit?
 

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