Mining

Copper: The Essential Metal (Part I)

Published

12 years ago

July 17, 2012

Jeff Desjardins

Copper is one of the most widely used metals on the planet, and has been for more than 10,000 years. It’s history is rich and distinctive as its unique colour, and it is now indispensable in modern society.

What Makes Copper Different?

Pure copper is ductile – it can be easily stretched and shaped into different forms
Highly conductive – copper conducts heat and electricity more effectively than all other metals save one: silver.
100% Recyclable – 80% of copper ever mined is still in use today.
Highly Alloyable – there are currently more than 570 different known copper alloys, and 350 have been acknowledged as antimicrobial.
Colour: Copper unique reddish-orange hue is beautiful and easily identifiable. In fact, gold and osmium are the only other elemental metals with colours other than silver/grey.

The average single family home in North America uses:

195 pounds – building wire
151 pounds – plumbing tube, fittings, valves
24 pounds – plumbers’ brass goods
47 pounds – built-in appliances
12 pounds – builders hardware
10 pounds – other wire and tube

Not only that, there are virtually zero substitutes for copper in its applications. Only silver is a beter conductor, and is over 100x times more expensive.

Copper today is now the nervous system of our cities, homes, tools and toys. The simple truth is that the western lifestyle is completely dependent on copper.

Related Topics:copper conductivity history VC exclusive

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Mining

Visualizing Global Gold Production in 2023

Gold production in 2023 was led by China, Australia, and Russia, with each outputting over 300 tonnes.

Published

3 days ago

April 30, 2024

Marcus Lu

Voronoi graphic showing gold production by country in 2023.

Visualizing Global Gold Production in 2023

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Over 3,000 tonnes of gold were produced globally in 2023.

In this graphic, we list the world’s leading countries in terms of gold production. These figures come from the latest USGS publication on gold statistics (published January 2024).

China, Australia, and Russia Produced the Most Gold in 2023

China was the top producer in 2023, responsible for over 12% of total global production, followed by Australia and Russia.

Country	Region	2023E Production (tonnes)
🇨🇳 China	Asia	370
🇦🇺 Australia	Oceania	310
🇷🇺 Russia	Europe	310
🇨🇦 Canada	North America	200
🇺🇸 United States	North America	170
🇰🇿 Kazakhstan	Asia	130
🇲🇽 Mexico	North America	120
🇮🇩 Indonesia	Asia	110
🇿🇦 South Africa	Africa	100
🇺🇿 Uzbekistan	Asia	100
🇬🇭 Ghana	Africa	90
🇵🇪 Peru	South America	90
🇧🇷 Brazil	South America	60
🇧🇫 Burkina Faso	Africa	60
🇲🇱 Mali	Africa	60
🇹🇿 Tanzania	Africa	60
🌍 Rest of World	-	700

Gold mines in China are primarily concentrated in eastern provinces such as Shandong, Henan, Fujian, and Liaoning. As of January 2024, China’s gold mine reserves stand at an estimated 3,000 tonnes, representing around 5% of the global total of 59,000 tonnes.

In addition to being the top producer, China emerged as the largest buyer of the yellow metal for the year. In fact, the country’s central bank alone bought 225 tonnes of gold in 2023, according the World Gold Council.

Estimated Global Gold Consumption

Most of the gold produced in 2023 was used in jewelry production, while another significant portion was sold as a store of value, such as in gold bars or coins.

Jewelry: 46%
Central Banks and Institutions: 23%
Physical Bars: 16%
Official Coins, Medals, and Imitation Coins: 9%
Electrical and Electronics: 5%
Other: 1%

According to Fitch Solutions, over the medium term (2023-2032), global gold mine production is expected to grow 15%, as high prices encourage investment and output.