Gold statistics that might frustrate mining-impacted communities
By Alan Septoff
July 15, 2011
The World Gold Council keeps a set of gold statistics. Among them, how much gold every country in the word keeps in its reserve banks.
According to the WGC (actually originally sourced from the IMF), the largest holder of gold is the U.S. with 8,100 metric tons of gold. The world, collectively, holds more than 30,000 metric tons.
In other words, there is enough gold sitting in just U.S. banks to replaced the annual mined supply for 3 years. And enough in the world to replace mined gold for more than 10 years.
I wonder what the communities fighting for to protect their communities from unwanted gold mining in Rosia Montana (Romania) or the Wassa district (Ghana) or Yanachocha/Cajamarca (Peru) think of this?comments powered by Disqus