Mining
Charted: The Value Gap Between the Gold Price and Gold Miners
See this visualization first on the Voronoi app.
The Value Gap Between the Gold Price and Gold Miners
This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.
Although the price of gold has reached new record highs in 2024, gold miners are still far from their 2011 peaks.
In this graphic, we illustrate the evolution of gold prices since 2000 compared to the NYSE Arca Gold BUGS Index (HUI), which consists of the largest and most widely held public gold production companies. The data was compiled by Incrementum AG.
Mining Stocks Lag Far Behind
In April 2024, gold reached a new record high as Federal Reserve Chair Jerome Powell signaled policymakers may delay interest rate cuts until clearer signs of declining inflation materialize.
Additionally, with elections occurring in more than 60 countries in 2024 and ongoing conflicts in Ukraine and Gaza, central banks are continuing to buy gold to strengthen their reserves, creating momentum for the metal.
Traditionally known as a hedge against inflation and a safe haven during times of political and economic uncertainty, gold has climbed over 11% so far this year.
According to Business Insider, gold miners experienced their best performance in a year in March 2024. During that month, the gold mining sector outperformed all other U.S. industries, surpassing even the performance of semiconductor stocks.
Still, physical gold has outperformed shares of gold-mining companies over the past three years by one of the largest margins in decades.
Year | Gold Price | NYSE Arca Gold BUGS Index (HUI) |
---|---|---|
2023 | $2,062.92 | $243.31 |
2022 | $1,824.32 | $229.75 |
2021 | $1,828.60 | $258.87 |
2020 | $1,895.10 | $299.64 |
2019 | $1,523.00 | $241.94 |
2018 | $1,281.65 | $160.58 |
2017 | $1,296.50 | $192.31 |
2016 | $1,151.70 | $182.31 |
2015 | $1,060.20 | $111.18 |
2014 | $1,199.25 | $164.03 |
2013 | $1,201.50 | $197.70 |
2012 | $1,664.00 | $444.22 |
2011 | $1,574.50 | $498.73 |
2010 | $1,410.25 | $573.32 |
2009 | $1,104.00 | $429.91 |
2008 | $865.00 | $302.41 |
2007 | $836.50 | $409.37 |
2006 | $635.70 | $338.24 |
2005 | $513.00 | $276.90 |
2004 | $438.00 | $215.33 |
2003 | $417.25 | $242.93 |
2002 | $342.75 | $145.12 |
2001 | $276.50 | $65.20 |
2000 | $272.65 | $40.97 |
Among the largest companies on the NYSE Arca Gold BUGS Index, Colorado-based Newmont has experienced a 24% drop in its share price over the past year. Similarly, Canadian Barrick Gold also saw a decline of 6.5% over the past 12 months.
Mining
The Biggest Salt Producing Countries in 2023
In this graphic, we break down global salt production in 2023. China is currently the top producer, accounting for almost 20% of output.
The Biggest Salt Producing Countries 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.
Humanity has utilized salt for thousands of years, dating back to ancient civilizations. The U.S. alone consumes more than 48 million tonnes of salt per year.
In this graphic, we break down global salt production in 2023, measured in tonnes. These estimates come from the U.S. Geological Survey’s latest commodity report on salt.
Ample Supply
Salt is essential for human life, serving various purposes including food preservation, flavor enhancement, industrial processes, and health maintenance. The good news is that the world’s continental resources of salt are vast, and the salt content in the oceans is nearly unlimited.
China is currently the top producer of salt, with almost 20% of the output, followed by the U.S. (15%) and India (11%).
Country | Production (tonnes) |
---|---|
🇨🇳 China | 53,000,000 |
🇺🇸 United States | 42,000,000 |
🇮🇳 India | 30,000,000 |
🇩🇪 Germany | 15,000,000 |
🇦🇺 Australia | 14,000,000 |
🇨🇦 Canada | 12,000,000 |
🇨🇱 Chile | 9,200,000 |
🇲🇽 Mexico | 9,000,000 |
🇹🇷 Turkey | 9,000,000 |
🇷🇺 Russia | 7,000,000 |
🇧🇷 Brazil | 6,600,000 |
Rest of world | 67,000,000 |
Global total | 273,800,000 |
The global salt market was valued at $32.6 billion in 2022.
It’s projected to grow from $34.1 billion in 2023 to $48.6 billion by 2030, with a CAGR of 5.2% during the forecast period. This suggests a surprising amount of growth for what is one of the world’s oldest and most common commodities.
Facts About the U.S. Salt Industry
In the U.S., salt is produced by 25 companies, which operate 63 plants across 16 states.
The states that produce the most salt are Kansas, Louisiana, Michigan, New York, Ohio, Texas, and Utah. Altogether, these states account for 95% of domestic production.
The primary uses of salt in the U.S. are highway de-icing (41%), chemical production (38%), and food processing (10%).
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