Connect with us

Mining

The Gold Series: Unearthing the World’s Supply (Part 2 of 5)

Published

on

Gold Series Part 2 infographic

Part 1: The Most Sought After Metal on EarthPart 2: Unearthing the World's Gold SupplyPart 3: The Eclipsing Demand of the EastPart 4: Five Reasons To Own GoldPart 5: 2014 Gold Trends and Beyond

The Gold Series Part 2: Unearthing the World’s Gold Supply

This infographic, part two in our 2014 Gold Series, covers the full supply picture behind the yellow metal.Within the planet’s crust, there is only 1 gram of gold for every 250 tonnes (550,000 lbs) of earth.

Gold’s rarity means that finding economic deposits is extremely difficult. To understand how gold mining and supply work, we must first unearth how deposits form.

Over time, gold dissolves in hot water deep in the crust under immense pressure. It is then transported and deposited upwards as the water travels up cracks and fissures towards the surface. Generally, the major deposit types include: placer, volcanogenic massive sulphide (VMS), epithermal, porphyry, carlin-type, and orogenic deposits.

Check out Part 3 of The 2014 Gold Series on rising demand in Asia.

Presented by: Goldcorp

Also made possible by: Falco Pacific, Balmoral Resources, Brazil Resources, Eastmain Resources, and Brixton Metals.

1 Comment

Mining

Visualizing Raw Steel Production in 2023

China produces more than half the world’s steel.

Published

on

Voronoi graphic showing top raw steel producers in 2023.

Visualizing Raw Steel 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.

Steel is essential for the economy due to its crucial role in infrastructure, construction, manufacturing, and transportation sectors.

This graphic breaks down the estimated global production of raw steel in 2023. The data was sourced from the U.S. Geological Survey as of January 2024.

China Produces More Than Half the World’s Steel

One major issue facing the steel industry is overcapacity in top producer China.

Steel production in China has surpassed demand in recent years, leading to downward pressure on the profit margins of steel mills worldwide.

Historically, China’s troubled real estate sector has accounted for over one-third of the country’s steel consumption. To address this issue, the Chinese government has mandated steel production cuts since 2021.

Far behind China, India is the second-biggest producer of steel, followed by Japan.

CountryRegion2023 Production (million tonnes)
🇨🇳 ChinaAsia1,000
🇮🇳 IndiaAsia140
🇯🇵 JapanAsia87
🇺🇸 U.S.North America80
🇷🇺 RussiaEurope75
🇰🇷 S. KoreaAsia68
🌍 Rest of World420
Total1,870

Infinite Recyclability

Steel is an alloy primarily composed of iron ore containing less than 2% carbon, 1% manganese, and other trace elements. It is 1,000 times stronger than iron and can be recycled over and over without sacrificing quality.

Steel is widely used in various industries. It is a fundamental material in construction, providing support through beams, internal structures, and roofing.

Moreover, steel’s corrosion-resistant properties make it ideal for water infrastructure. Stainless steel pipes are the preferred choice for underground water systems, ensuring longevity and purity in water transportation.

Additionally, most canned foods are stored in steel containers for preservation, as steel does not rust.

Continue Reading
World Risk Poll 2024 How safe is today's world? Dive into the data

Subscribe

Popular