Gold for Development-News advisory-Shandong Applied Research Centre of Gold Nanotechnology
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News advisory
News advisory

Gold for Development

   Gold mining is a major economic driver for many countries across the world. In 2012, large-scale gold mining accounted for 15 per cent of Papua New Guinea’s gross domestic product. In Tanzania, gold provided 36 per cent of export earnings. 
   As demand for gold has grown worldwide, developing countries have become increasingly important producers. In these countries, as in developed economies, well-managed, transparent and accountable resource extraction can be a major contributor to economic growth. Large-scale commercial gold mining directly employed an estimated 527,900 people in 2012, in the largest 15 gold-producing countries alone.
   Gold mining also brings foreign direct investment, foreign exchange and tax revenues to countries in need of capital. For example, in 2012, gold mining companies invested US$729 million in Papua New Guinea and nearly US$1.4 billion in Ghana, in existing and expanding production.
   Often operating in remote locations, gold mining companies invest in infrastructure and utilities. In addition to supporting the needs of a gold mine, these improvements to roads, water and electricity supplies are a long-term benefit to businesses and communities across the area, that outlives the production years of a gold mine.
   Responsible gold-mining companies also have ethical and commercial incentives to improve the health and education of the communities that they operate in. Many invest in social infrastructure, including schools, colleges and health centres that improve the opportunities and wellbeing of local people. Others promote entrepreneurship and financial inclusion directly and through their supply chains, ensuring that their impact is broad and sustainable.
   Research commissioned by the World Gold Council quantifies the direct impact of gold mining on national economies for the first time. It demonstrates that through employment, tax revenues and contribution to GDP, gold mining contributed the equivalent of the GDP of Beijing to the global economy in 2012.
   Building on these findings, data compiled by the World Gold Council and 15 Member companies offers a comprehensive, country-by-country view on how value generated by the formal gold mining sector in 2012 was distributed.  The study found that more than 80 per cent of total spend was made in the country in which operations were sited.

    Cited from World Gold Council:

Hits:  Date:2014-06-26  【Print】  【Close
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