[Stats] Amount of Gold Found by Miners Plunged 85%

Gold Miners are finding difficulty in mining despite producers’ exploration budgets surged more than 10-fold to $6 billion a year in the decade to 2012. The amount of gold discovered last year was down 85 percent and constantly in decline since 2006.

Gold’s had a roller-coaster year, surging as much as 30 percent before giving up the bulk of those gains. But one trend has been consistent: mining companies are finding it harder to dig up more of the precious metal.

The following charts show why, and what that means for the industry.

Read full article on Bloomberg here

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