Golden Star Resources

Jun 21, 2023

" - https://www.reportlinker.com/p06464067/?utm_source=GNW , Kirkland Lake Gold Inc., Polymetal International Plc., Coeur Mining Inc., Freeport-McMoRan Inc., North Bloomfield Mining and Gravel Company, Gold Reserve Inc., Golden Star Resources Ltd., and Royal Gold Inc. The global gold ore market is expected to grow from $16.03 billion in 2022 to $17.86 billion in 2023 at a compound annual growth rate (CAGR) of 11.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The gold ore market is expected to reach $26.96 billion in 2027 at a CAGR of 10.8%. The gold ore market includes revenues earned by entities by providing services such as exploration, mining, open pit mining, underground mining, processing, crushing, grinding, flotation, oxidization, leaching, and adsorption.The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. Gold ore is a type of rock that contains gold mineral or particles in sufficient quantities to make it economically viable to mine and extract the gold. Asia-Pacific was the largest region in the gold ore market in 2022. The regions covered in gold ore report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The main gold ore mining methods include placer mining, hard rock mining, and others.Placer gold mining is the method of using water to excavate, transport, concentrate, and recover heavy minerals from placer deposits (collections of gold existing in discrete particles or mixed with sand). The applications include cupellation method refining, inquartation method refining, miller chlorination process refining, Wohlwill electrolytic process refining, and aqua regia process refining used in investment, jewelry, and others. The increase in demand for gold jewelry propelled the growth of the gold ore market.Gold jewelry refers to ornaments that are made of gold as a primary material. Gold is extracted from the gold ores by using the gold mining process, and the extracted gold is then converted into a form such that it can be used for making gold jewelry.For instance, in January 2022, according to the World Gold Council, a UK-based market development organization for the gold industry, worldwide annual jewelry consumption of gold was 2,123 tons in 2021, a 52% increase from 1,401 tons in 2020. The increase in demand for gold jewelry is driving the gold ore market. Technological advancements are a key trend gaining popularity in the gold ore market.Companies operating in the gold ore market are adopting new technologies to sustain their position in the market. For instance, in October 2022, RG Gold, a Kazakhstan-based gold mining company, launched a processing plant.In accordance with all international safety and environmental requirements, the plant is designed and constructed. The new gold processing plant deploys CIP (carbon in pulp) technology.Carbon in pulp (CIP) technology is a process used in the extraction of gold from gold ore using activated carbon. Its annual processing capacity amounts to approximately 5 million metrics tons of gold-containing ore. In March 2022, Newcrest Mining Limited, an Australia-based gold mining company, acquired Pretium Resources for an undisclosed amount.Through this acquisition, the combined team aims to deliver Newcrest’s three-phase transformation program (optimize, unlock, grow), which will generate significant long-term value for shareholders. Pretium Resources is a Canada-based gold mining company that is involved in acquiring, exploring, and developing precious metal resource properties. The countries covered in the gold ore market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The gold ore market research report is one of a series of new reports that provides gold ore market statistics, including gold ore industry global market size, regional shares, competitors with a gold ore market share, detailed gold ore market segments, market trends, and opportunities, and any further data you may need to thrive in the gold ore industry. This gold ore market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.