For the companies exploring for gold, a deposit that has more than one gram of gold for every tonne of earth is an exciting prospect. In fact, in our 2013 report summarizing the world’s gold deposits, we found that the average grade of gold deposits in the world is around that amount: about 1.01 g/t.
Think about that for a moment. One gram (0.035 oz) is equal to the mass of a small paper clip. This small amount of gold is usually not even in one place – it is dispersed through a tonne of rock and dirt in smaller amounts, most of the time invisible to the naked eye. For some companies that have the stars align with easy metallurgy, a deposit near surface, and open pit potential, this gram per tonne deposit may even somehow be economic.
It’s hard to believe that such a small amount of gold could be worth so much, and that is why great visualizations can help us understand the rarity of this yellow metal. Luckily, the folks at Demonocracy.info have done the heavy lifting for us, putting together a series of 3D visualizations of gold bullion bars showcasing the world’s gold that has been mined thus far. Note: these visualizations are a couple of years old and optimistically have the value of gold pegged at US$2,000 per oz, presumably for the ease of calculations.
For those interested, we have also put together a similar slideshow on the topic, showing how much gold, silver, copper, and other metals are mined each year.
Smaller denominations of gold plates: 1 gram, 5 grams, 10 grams, 20 grams, and 1 troy oz of gold.
Larger denominations of gold plates: 50 grams, 100 grams, 250 grams, 500 grams, and 1 kg of gold.
This 400 oz gold bar, at $2,000 per oz gold, is worth the $800,000 cash beside it. The gold bar is extremely heavy, weighing more than three full milk jugs.
Here’s what one tonne of gold looks like. At $2,000 per oz, it’s worth $64.3 million.
Gold is so heavy that the suspension of an average truck would break if it held anymore than pictured above. Even if the truck’s suspension broke, the load of gold in the back could buy 2,660 brand new trucks at an MSRP of $40,000 per truck.
Here’s 10 tonnes of gold compared to 100 tonnes of the yellow metal.
This semi-truck is carrying the maximum load it can legally carry, which is about about 25 tonnes. Here there are 24.88 tonnes of gold, worth $1.6 billion.
The Northrop Grumman B2 Spirit Bomber program cost $44.75 Billion for a total of 21 units built, which averages to $2,130,952,380 per unit. Shown here is the amount of gold it costs to buy one unit.
Here’s the entire gold reserves of the United States government, which is 8,133.5 tonnes.
Here’s the world’s gold reserves by government circa 2012. This is slightly outdated, with China and Russia both having significant increases since then.
All gold mined in history, stacked in 400 oz bars. The 166,500 tonnes here is actually divided into four levels: the bottom level is jewelry (50.5% of all gold), the 2nd level is private investment (18.7%), the third level is world governments (17.4%), and the highest level is other uses for gold such as industry (13.4%).
Lastly, we finish off with an image of all of the world’s mined gold in one cube with dimensions of 20.5m. If it was all melted, it would fit within the confines of an Olympic Swimming Pool.
Want to learn everything you need to know about gold in about 20 minutes? Our five-part Gold Series covers everything from its rich history, supply and geology, demand drivers, investment properties, and market trends.
All the World’s Metals and Minerals in One Visualization
This massive infographic reveals the dramatic scale of 2019 non-fuel mineral global production.
All the World’s Metals and Minerals in One Visualization
We live in a material world, in that we rely on materials to make our lives better. Without even realizing it, humans consume enormous amounts of metals and minerals with every convenient food package, impressive building, and technological innovation.
Every year, the United States Geological Service (USGS) publishes commodity summaries outlining global mining statistics for over 90 individual minerals and materials. Today’s infographic visualizes the data to reveal the dramatic scale of 2019 non-fuel mineral production.
Read all the way to the bottom; the data will surprise you.
Non-Fuel Minerals: USGS Methodology
A wide variety of minerals can be classified as “non-fuel”, including precious metals, base metals, industrial minerals, and materials used for construction.
Non-fuel minerals are those not used for fuel, such as oil, natural gas and coal. Once non-fuel minerals are used up, there is no replacing them. However, many can be recycled continuously.
The USGS tracked both refinery and mine production of these various minerals. This means that some minerals are the essential ingredients for others on the list. For example, iron ore is critical for steel production, and bauxite ore gets refined into aluminum.
Top 10 Minerals and Metals by Production
Sand and gravel are at the top of the list of non-fuel mineral production.
As these materials are the basic components for the manufacturing of concrete, roads, and buildings, it’s not surprising they take the lead.
|Rank||Metal/Mineral||2019 Production (millions of metric tons)|
|#1||Sand and Gravel||50,000|
|#3||Iron and Steel||3,200|
These materials fertilize the food we eat, and they also form the structures we live in and the roads we drive on. They are the bones of the global economy.
Let’s dive into some more specific categories covered on the infographic.
While cement, sand, and gravel may be the bones of global infrastructure, base metals are its lifeblood. Their consumption is an important indicator of the overall health of an economy.
Base metals are non-ferrous, meaning they contain no iron. They are often more abundant in nature and sometimes easier to mine, so their prices are generally lower than precious metals.
|Rank||Base Metal||2019 Production (millions of metric tons)|
Base metals are also the critical materials that will help to deliver a green and renewable future. The electrification of everything will require vast amounts of base metals to make everything from batteries to solar cells work.
Gold and precious metals grab the headlines because of their rarity — and their production shows just how rare they are.
|Rank||Precious Metal||2019 Production (metric tons)|
While metals form the structure and veins of the global economy, ultimately it is humans and animals that make the flesh of the world, driving consumption patterns.
A Material World: A Perspective on Scale
The global economy’s appetite for materials has quadrupled since 1970, faster than the population, which only doubled. On average, each human uses more than 13 metric tons of materials per year.
In 2017, it’s estimated that humans consumed 100.6B metric tons of material in total. Half of the total comprises sand, clay, gravel, and cement used for building, along with the other minerals mined to produce fertilizer. Coal, oil, and gas make up 15% of the total, while metal makes up 10%. The final quarter are plants and trees used for food and fuel.
Silver Series: Perfect Storm for Silver (Part 2 of 3)
In the second part of the Silver Series, we show that the supply and demand fundamentals are potentially shaping up for a perfect storm in silver prices.
The Silver Series: A Perfect Storm for Silver (Part 2 of 3)
In Part 1 of the Silver Series we showed how precious metals can be a safe haven during times of volatility in a debt-laden era.
Today’s infographic is Part Two of the Silver Series, and it comes to us from Endeavour Silver, outlining some of the key supply and demand indicators that precede a coming gold-silver cycle in which the price of silver could move upwards.
Silver is produced primarily as a by-product in the mining of non-precious metals, and there is currently a dwindling supply of silver as a result of low base metal prices.
However, silver is more than just a precious metal and a safe haven investment. Its industrial uses also create a significant demand on silver stocks.
As the production of green technologies such as solar cells and EVs quickly escalates, upward pressure is being placed on the price of silver, indicating the potential start of a new gold-silver cycle in the market.
Just like gold, silver has functioned as a form of money for centuries, and its role as a store of value and hedge against monetary inflation endures.
Currency debasement is not new. Governments throughout history have “printed” money while silver’s value has held more constant over time.
In today’s age, the average investor does not own physical silver. Rather, they invest in financial instruments that track the performance of the physical commodity itself, such as silver exchange-traded funds (ETFs).
Until recently, ETF investment in precious metals has been relatively flat, but there has been a surge in the price of silver. Meanwhile, demand for silver-backed financial products have increased the demand for physical silver and could continue to do so.
Silver is also helping to power the green revolution.
The precious metal is the best natural conductor of electricity and heat, and it plays an important role in the production of solar-powered energy. A silver paste is used in photovoltaic solar cells which collects electrons and creates electricity. Silver then helps conduct the electricity out of the cell. Without silver, solar cells would not be as efficient.
As investments and the green revolution demand more and more silver, where is the metal coming from?
A Perfect Storm for Silver: Supply Crunch
The bulk of silver production comes as a by-product of other metal mines, such as zinc, copper, or gold mines.
Since silver is not the primary metal emerging from some of these mines, it faces supply crunches when other metal prices are low.
Silver supply is falling for three reasons:
- Declining mine production due to low base metal prices
- Declining silver mine capacity
- Declining reserves of silver
The demand for silver is rising and the few companies that produce silver could shine.
Don’t miss another part of the Silver Series by connecting with Visual Capitalist.
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