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Economist Maria Alzira Duarte– 3º Distrito/DNPM/MG - Tel.: (31) 3227-2232 - E-mail: ... - page 1 / 3

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GOLD

Economist Maria Alzira Duarte– 3º Distrito/DNPM/MG - Tel.: (31) 3227-2232 - E-mail: maria.duarte@dnpm.gov.br

Mine Engineer Renato Mota de Oliveira – 3º Distrito/DNPM/MG - Tel.: (31) 3227-3668 - E-mail: renato.mota@dnpm.gov.br

I - WORLD SUPPLY – 2006

The main world reserves of gold are located in South Africa (36 thousand tonnes of Au contained), which correspond to 40% of the world total. The Brazilian reserves of gold (measured + indicated) represent 1.9% of the global total, assessed at approximately 1.720 tonnes, distributed in the states of Minas Gerais (48.0%), Pará (36.9%), Goiás (6.0%), Mato Grosso (3.6%), Bahia (3.0%) and others (2.5%).

In 2006 the world production of gold totalled 2.500 tonnes, recording a timid increase of 1.2% as compared to the previous year. The main producer countries of gold featured reduction in the volumes. South Africa, the greatest world producer recorded a reduction of 8.5 %, from 295 tonnes produced in 2005 to 270 tonnes in 2006; Australia and the United States produced 260 tonnes each.

According to data of the World Gold Council, the world supply of gold in 2006 was of 3.451 tonnes, 23% smaller than in 2005. While the world consumption of gold hit a new annual record in terms of the financial volume of US$ 65,3 billion in commercial transactions  (consumers and investors). The world demand identified was of 3.361,6 tonnes; the main international consumer market was the sector of jewellery, which absorbed 67.4% of the global supply (2.266,8 t); followed by the demand of financial investments, coins and bars (636,7 t) representing 18.9% of the volume demanded.

World Reserve and Production

Specification

Reserves (t) (1)

Production (t)

Countries

2006 (p)

Participation (%)

2005 (r)

2006 (p)

Participation (%)

Brazil

1,720

1.9

38.5

40

1.6

South Africa

36,000

40.0

295

270

10.8

Australia

6,000

6.7

262

260

10.4

Canada

3,500

3.9

119

120

4.8

China

4,100

4.6

225

240

9.6

United States

3,700

4.1

256

260

10.4

Indonesia

2,800

3.1

140

145

5.8

Peru

4,100

4.6

208

210

8.4

Russia

3,500

3.9

169

162

6.5

Other Countries

24,580

27.3

757.5

793

31.7

TOTAL

90,000

100.0

2,470

2,500

100.0

Sources: DNPM/DIDEM; Mineral Commodity Summaries 2006 – United States Geological Survey (USGS) and Gold Fields Mineral Services (GFMS). Notes: (1) Reserves, Measured + Indicated. (p) Preliminary. (r) Reviewed.

II - DOMESTIC PRODUCTION

In  2006 the Brazilian production of gold was of 40 tonnes, recording an increase of 4.5% as compared to 2005. The production of the mines (companies and cooperatives) corresponded to 87.0% of the national production, recording an increase of 16.4% as compared to the production of the previous year. The company Anglogold Ashanti Mineração Ltda was he main producer of gold in 2006, participating with 22.2% (7,7 t) of the national production, followed by Mineração Serra Grande S/A, a subsidiary of multinationals Anglogold Ashanti and Kinross Gold Corp. 16.9% (6,0 t) and Rio Paracatu Mineração S/A, of Group Kinross Gold Corp. 15.4% (5.4 t).

In 2006, the Canadian Group Yamana Gold Inc. completed the incorporation, through an exchange of shares of its compatriot and competitor Desert Sun Mining. Yamana Gold now holds in Brazil the exploitation rights on the mines of Jacobina, Morro do Vento and Canavieiras, located in the State of  Bahia. Operating through its subsidiary Jacobina Mineração e Comércio Ltda it resumed early in 2005 the operations of extraction and processing at the mine of Jacobina, producing 2.5 tonnes in 2006, 6.3% of the Brazilian production.

The production of artisan-extraction gold, estimated on the collection of the Tax on Financial Operations - IOF, of approximately 5.2 tonnes in 2006, featured for the second consecutive year a reduction of 38.0% as compared to 2005. It is estimated that the distribution of artisan-extraction activities in the main gold-producing states was: Pará (45.7%), Mato Grosso (20.3%),  Amapá (15.5%), Rondônia (8.0%) and others (10.5%).

III – IMORTS

In 2006 the Brazilian imports of gold were of semi-manufactured goods and chemical compounds, recording an increase of 17.1% in value (US$ 223 thousand FOB, in 2005, to US$ 260 thousand FOB, in 2006). The main countries of origin of the imports of gold (in values) were: China (90%), Japan (6%) and South Korea (2%).

The balance of the commercial transactions (import/export) of gold recorded a positive balance of US$ 662.7 million FOB in 2006, generating an increase of 44.3% in the trade surplus as compared to the same previous period (US$ 459.2 million FOB, in 2005).

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