Gold mining is vital to the global economy

According to a report from the World Gold Council (WGC), the global community should be interested in a strong and reliable gold mining industry. Gold mining had a direct contribution of $ 83.1 billion to the global economy last year, and given the indirect impact, that figure reached $ 171.6 billion.

The figures and figures were determined based on analysis from the 47 largest gold mining countries, which account for more than 90 percent of world gold production. The report notes that more than 1 million people were directly employed in gold mining companies and another 3 million worked in the provision of services and industry support.

"This report shows that the overall economic impact of gold mining is significant and significant, as $ 171.6 billion is more than the GDP of more than 150 different countries. Our findings highlight that commercial gold mining is a major source of income and economic power. growth, playing an important role in supporting sustainable socio-economic development of countries and societies. "

The report also highlights that low- and lower-middle-income countries tend to dominate the gold mining industry, which account for more than 60 percent of the 47 major mining countries. So gold mining companies working in these areas are involved in improving the incomes of these countries. It was also emphasized that 70 percent of the money that is poured into the economy of the mining country from gold miners goes to suppliers and employees.

"The lack of information is holding back constructive discussion about how to channel most of the total value generated from the gold mining industry to the benefit of mining countries and communities," experts say. "Building on previous research and identified industry thematic trends, the latest report has made significant progress in bridging the information divide."

The main and most important finding presented in the report is that the direct global economic contribution of the gold mining industry from 2000 to 2014 outpaced the growth in the value of gold by 7 times over time.