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The world’s above-ground gold reserves are growing, albeit at a moderate pace. Over the past 113 years, the average annual growth rate has been only 1.5 percent. The total amount of gold ever mined amounts to approximately 219,900 metric tons. This quantity is equivalent to a cube with an edge length of 22 meters. In addition, there is gold in the ground that has been proven to exist – approximately 4.2 billion ounces in resources and 1.7 billion ounces in reserves, according to estimates.

New deposits are being discovered with decreasing frequency. Mining this precious metal is becoming more expensive. Gold cannot truly be destroyed; it can be recycled and reused. Today, the ore contains less gold than it used to, so more rock must be processed, more remote regions must be developed, or mining must take place at greater depths. Environmental and occupational safety regulations have become stricter. All of this drives up the cost of extraction. This, combined with its scarcity, its ability to retain value over time, and high demand, is what makes it so attractive.

New mines require a great deal of time and capital before they become profitable. It often takes ten to 20 years from discovery to production readiness. And a gold content of 0.5 to 2 grams of gold per metric ton of rock is no longer unusual at many large open-pit mines today – and is actually considered very good for heap leaching processes. Incidentally, the price of gold was still below 500 euros per troy ounce in the early 2000s.

Fortuna Mining – https://www.commodity-tv.com/ondemand/companies/profil/fortuna-mining-inc/ – is a successful gold and silver producer with mines in West Africa and Latin America. In the second quarter, the company produced more than 72,000 ounces of gold equivalent. In the first half of the year, production totaled approximately 145,000 ounces of gold equivalent. The company is moving forward with the Diamba Sud gold project in Senegal; the environmental and social impact assessment has been approved, and the positive results of the feasibility study were recently published. At the Séguéla gold mine in Ivory Coast, capacity is being expanded to increase gold production.

Fury Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ -, is well-capitalized and holds a gold and mineral exploration portfolio totaling over 157,000 hectares in Québec. In addition, the company owns 11.3 million common shares of Dolly Varden Silver Corp. and a stake in Contango Silver and Gold. Encouraging drill results were reported from the Eau Claire project (for example, 10.27 grams of gold per metric ton of rock over 11 meters), which is moving toward a feasibility study.

Current company information and press releases from Fortuna Mining (- https://www.resource-capital.ch/de/unternehmen/fortuna-mining-corp/ -) and Fury Gold Mines (- https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ -).

For more information, please see our new Precious Metals Report at the following link:

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

Sources: Fortuna Mining, Fury Gold Mines,

https://www.moneygold.de/goldankauf-lexikon/goldpreis-news/goldminen-und-goldpreis-abhaengigkeiten/;

https://www.gold.de/goldfoerderung/;

https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.

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