[PHOTOS] 15 Things you didn't know about gold
1. The world’s largest producers of gold, which encompass nearly one-third of total production, are China, the United States and Australia.
2. The United States Federal Reserve holds roughly 7,385 tons of gold, which equates to 530,000 gold bars.
3. According to Christian folklore, sailors used to wear gold earnings in the event they drowned so when their bodies washed up on foreign shore they could pay for a Christian burial.
4. Our bodies contain about 0.2 milligrams of gold, most of it in our blood.
5. Although flavorless, gold is edible (E number 175*) and is used in foods to endorse high value. The E number is code for substances that can be used as food additives for use within the European Union and Switzerland.
6. The average smartphone has roughly 10 troy ounces of gold per ton.
7. A 28-gram nugget of gold is rarer than a five-carat diamond.
8. The South African gold rush started in Johannesburg in 1885 when an Australian miner, George Harrison, found gold while digging up stones to build a house.
9. 49 percent of all gold mined today is made into jewelry.
10. India will likely remain the top gold consumer in 2015, according to the World Gold Council. It overtook China in 2014 as the world’s biggest gold consumer.
11. The largest known gold nugget was found in Central Victoria, Australia in 1869. Nicknamed the ‘Welcome Stranger’, it weighed approximately 2,316 troy ounces.
12. Gold has countless medical contributions. Along with being used in treatments for cancer and rheumatoid arthritis, gold is highly resistant to bacteria and can be used for implants in high-risk areas of infection. Gold is also used in diagnostics, including pregnancy tests and HIV progression.
13. The world’s oceans are estimated to contain roughly 16,534 tons of gold.
14. In 2007, the Royal Canadian Mint unveiled a 220-pound, 99.999 percent pure gold coin at the mint in Ottawa Ontario, Canada.
15. The visor on an astronaut’s helmet is coated with a thin layer of gold to filter out the sun’s harmful rays.
Deloitte predicts industry transformation - Tracking the Trends 2019 report
Deloitte has published the eleventh edition of its annual report on the mining industry. Tracking the Trends identifies the top ten trends transforming the future of mining in 2019
The Deloitte report endeavours to provide the mining industry with insights it can leverage to support its continued quest for productivity, capital discipline, strategic development and sustainable growth.
Philip Hopwood, Deloitte’s Global Leader - Mining & Metals, commented: “It appears that the mining industry is poised for greater growth than it’s seen in a decade, but today’s market realities are very different than those of the past. We’re now dealing with geopolitical tensions in the form of trade wars and tariff concerns, as well as looming asset shortages. Rising commodity prices should fuel expansion, but could also result in a return of inflation and the costs that go with it, eventually eating into margins.
Disruption and volatility has become the new normal and the pace of change is outpacing our ability to adapt. This makes it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again.”
Here are the key messages provided by the 2019 report:
- Disruption and volatilitymake it imperative for mining companies to clarify how they plan to drive value into the future and how they intend to respond when prices inevitably drop again. To thrive into the future, mining companies will need to challenge the status quo by soliciting a diversity of opinions and taking the risk to do things differently.
- Technology and artificial intelligence (AI) will play a key role, not only in helping companies envision future scenarios, but in identifying risks at an enterprise level and transforming the supply chain. Moreover, advances in finance platforms, sensor technology, autonomous vehicles, cloud- based solutions, and analytics are paving the way for the design of a digital mine.
- Understanding the needs and perceptions of people both inside and outside the organization will be critical. Companies must build a more diverse workplace and address succession planning, while fostering loyalty and retention among existing employees. At the same time companies must do more outreach to local communities, governments, and consumers so they can be more transparent and receptive.
Top Ten Trends Transforming the Future of Mining:
- Rethinking mining strategy - Embedding the discipline to deliver measurable value across the cycle
- The frontier of analytics and artifcial intelligence- Moving up the maturity curve
- Managing risk in the digital era - Exploring a new approach to controls and risk management
- Digitizing the supply chain - Why innovation requires integration
- Driving sustainable shared social outcomes - Finding value beyond compliance
- Exploring the water-energy nexus - Making the case for a systematic approach
- Decoding capital projects - Learning from past mistakes
- Reimagining work, workers, and the workplace - A blueprint for the future
- Operationalising diversity and inclusion programs - From theory to practice
- Demanding provenance- EVs and battery minerals provoke the desire for provenance