Cixi Congfeng Fluorine Plastic Co.,Ltd , https://www.cfptfeseal.com
In the next few years, gold production is expected to increase, and Chinese enterprises will increase investment in overseas gold mines.
Research firm BMI Research reports that global gold production will climb in the next few years due to rising gold prices and good projects in major gold producing countries. The agency expects gold production to increase from 105 million ounces in 2018 to 125 million ounces by 2026, an average annual increase of 2.3%, a slight slowdown from the average growth rate of 3.1% in the previous eight years. BMT expects short-term gold prices to continue to rise, with an average price of $1,300 per ounce in 2018. Like many other metals, Chinese companies will lead the gold production and price performance. BMI Research expects that large companies from China will invest more in overseas gold mines because China's demand for gold is growing faster than production. The agency expects China's gold production to stay at around 16.5 million ounces in the next few years. BMI estimates that Asia Pacific accounted for 44.7% of global gold M&A transactions in 2016. Fosun International, a Chinese conglomerate, has launched a number of large-scale deals, including a $890 million acquisition of a 10% stake in Russian gold producer Polyus Gold. In addition, Shandong Gold Group acquired a 50% stake in the Veladero mine in Argentina from Barrick Gold for US$960 million and promised to promote exploration activities in the region. In 2016, China National Gold Group purchased the Jinfeng Gold Mine from Eldorado Gold for US$300 million. In the same year, Indonesian company PT Amman Mineral International acquired Newmont Mining's Indonesian assets for $1.3 billion, including Batu Hijau, Indonesia's second largest copper and gold mine. Australia is another important force in the global gold mining landscape. The country's gold production is expected to increase, the rise in gold prices will improve the profitability of mining companies, while the depreciation of the Australian dollar will stimulate the expansion of the mine, and prompted top mining companies and junior companies to increase exploration activities. BMI Research pointed out that Newmont's performance is a testament to Australia's optimistic outlook. The world's second-largest gold miner expects 2017 Australian production to reach 1.5 million ounces - 1.7 million ounces, with total spending between $205 million and $240 million. The agency expects Australia's gold production to increase from 10.5 million ounces in 2018 to 13.2 million ounces by 2026, an average annual growth of 3.1%, and will continue to be the world's second-largest gold producer. The agency expects a slight increase in Russian gold production. US gold production will gradually increase, mainly due to price increases, and the Trump administration's deregulation policy will encourage project development and relax environmental requirements.