As of 2010, the total global reserves of gold are estimated to be around 51,000 tonnes. Australia has the largest reserves (14%), followed by South Africa (12%) and Russia (10%). India has around 67 tonnes of gold reserves, accounting for only 0.1% of global reserves.
The global production of gold increased marginally from 2,460 tonnes in 2006 to 2,500 tonnes in 2010. In 2010, China was the largest producer of gold (345 tonnes), followed by Australia (255 tonnes) and the US (230 tonnes).
In 2010, production increased by 2% y-o-y due to the commissioning of new projects and expansion of existing mines. For instance, production at Boddington mines in Australia increased by 7 tonnes.(Gold mining machine manufacturer India)
In India, the production of gold decreased at a CAGR of 2.5% from 3.1 tonnes in 2005 to 2.8 tonnes in 2010. However, in 2009, production increased by 3.7% y-o-y. Over the last few years, production has been stagnant due to the lack of adequate investments in the sector. Regulatory policies acted as resistance to investments from private and foreign companies that impacted the exploration and mining of gold reserves.(bentonite processing plant)
The global consumption of gold increased at a CAGR of 2.7% during the period 2006-10, from 3,424 tonnes to 3,812 tonnes. Consumption has been steadily increasing over the past few years, except in 2009 when consumption was impacted due to the global economic downturn. In 2010, almost half of the gold consumed was forjewellery. The increasing demand in the industrial segment - another important end consuming segment - was driven by rising demand in the electronics industry. In addition, global investors were attracted to physical gold and gold ETFs due to lack of investment opportunities in other asset classes.The consumption of gold in India increased at a CAGR of 7.5% from 722 tonnes in 2006 to 963 tonnes in 2010. After declining in 2008 and 2009 due to higher gold prices, consumption recovered again in 2010.(Pulverizer for sale in India)
Kolar Gold Limited
Kolar Gold is primarily focused on mining activities in the Kolar Gold Greenstone Belt, near Bangalore. The company has been granted licenses to explore 32 known mineralized prospects, covering 568 square kilometers in Andhra Pradesh, Karnataka and Tamil Nadu. Additionally, Kolar Gold is planning tojointly revive the Kolar Gold Fields.
Deccan Gold Mines Limited
DGML is engaged in gold exploration and mining in the Karnataka, Andhra Pradesh and Rajasthan. Till date, the commercial production of gold has not begun in any of the sites.
Hutti Gold Mines Company Ltd
HGML is the only producer of primary gold in India. The company is undertaking the mining of gold deposits in Karnataka and operates one facility each in Raichur and Chitradurga. In addition, it has an operating mine in Tumkur. The Raichur unit is fully integrated, with a production capacity of 550,000 tonnes per annum.With gold prices ruling at historically high levels, it may induce and support the re-opening of closed.( pulverizer in India )
In India, exploration has lagged significantly behind the domestic demand growth for minerals. Despite the country being endowed abundantly in many resources, due to meager investments in exploration and the constrained participation of the private sector in upstream activity, the confirmed reserves available for the production of many base metals and precious metals will last only few years, given the enhanced production levels going forward. Exploration activity therefore must pick up rapid pace now. As is the case globally, there are indeed challenges in bringing the mineral resources to market. However, these are surmountable.