Investor Presentaiton
Declining Reserves in Global Gold Sector
Major Gold Producers' Years of Reserves Remaining, 2008 vs. 2017
S&P Global
Market Intelligence
2008 years remaining
2017 years remaining
2017 production
INVESTOR PRESENTATION - MARCH 2021
reserves remainin
of
Production years
0
5
10
15
20
25
30
35
Barrick Gold
Newmont Mining
AngloGold Ashanti
Goldcorp
Navoi Mining
Kinross Mining
Newcrest Mining
55
59
Gold Fields
Polyus
Agnico Eagle
Freeport-McMoRan
China Gold
Zijin Mining
Shandong Gold
Randgold Resources
Yamana Gold
Harmony Gold
Polymetal Int'l.
Nord Gold
0
6,000
5,000
4,000
3,000
2,000
1,000
FORAGE
ORBIT GARANT
2017 production (000
(000s of ounces
(saouno
The senior gold producers' mineable reserves have dropped sharply, driving the need for significant spending on
exploration and mine development
S&P forecasts lower global gold production beyond 2022 due to declining reserves
12
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