All that glitters: Volatile gold and silver prices have caused severe revenue decreases

Like all commodity miners, revenue is largely a function of production volume and commodity prices. For the Gold and Silver Ore Mining industry, output volumes and sales prices for both gold and silver have remained volatile over the past five years, leading to significant industry contraction. Meanwhile, demand from manufacturers of electrical equipment, electronic products and jewelry, which comprise the industry's primary markets, has stagnated or even declined over the past five years as a result of high import penetration and input costs. It is also important to note that the industry has experienced great volatility during the current period on account of gold prices reaching all-time highs during the prior five-year period...purchase to read more.

Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 13-18
-2.4%
Forecast Growth 18-23
Profit
Employment
14,505
Businesses
185

Industry Threats & Opportunities

  • Like all commodity miners, revenue is largely a function of production volume and commodity prices
  • Investment in gold and silver exchange-traded funds have become increasingly common
  • The world economy is expected to continue stabilizing and overcoming fragile growth
  • Industry Report - Industry Products Chapter

    Gold and silver are sold in three forms: ore and concentrates, dore and bullion. The Gold and Silver Ore Mining industry is primarily engaged in gold ore mining, which represents the largest share of industry revenue at 94.6% in 2018. Silver products are estimated to make up an estimated 5.4% of industry revenue in 2018, despite exceeding gold fivefold in output metric tons (the much higher value of gold accounts for its significant share of revenue).Silver versus goldThe industry's two primary products, gold and silver, have shifted slightly as percentages of revenue over time, with silver's share dropping in response to gold's quick rise in price. Currently, silver is expected to account for only 5.4% of revenue in 2018. Ove...purchase to read more.

    Additional Insights for the Gold & Silver Ore Mining Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Gold & Silver Ore Mining Industry are

  • Availability of resource
  • Ability to forward sell production when appropriate
  • The ability to comply with environmental laws
  • IBISWorld analysts also discuss how external factors such as World price of gold and Investor uncertainty in the Gold & Silver Ore Mining industry impact industry performance..

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    What's in this report

    What is the Gold & Silver Ore Mining Industry?

    Operators in this industry mine gold and silver-bearing ores. Mining activities include the development of mine sites and the on-site processing of ore into a concentrate or bullion. Companies typically retain ownership of the semi-processed gold or silver products and pay for further refining on a toll-charge basis. The refining process is included as part of the Copper, Zinc and Lead Refining industry (IBISWorld report 33141).

    Industry Products
  • Gold ore and concentrates
  • Silver ore and concentrates
  • N/A
  • Industry Activities
  • Gold ore mining
  • Silver ore mining
  • Gold ore beneficiation
  • Silver ore beneficiation
  • gold and silver bullion, ore and concentrates
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • World price of gold
  • Investor uncertainty
  • Industrial production index
  • World price of silver

  • Current Performance
  • Investment demand
  • Decreasing production
  • Chart: Revenue Growth

  • Industry Outlook
  • Unsteady demand
  • Heightened competition
  • Table: Gold & Silver Ore Mining Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Gold & Silver Ore Mining Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Nonferrous Metal Refining
  • Jewelry Manufacturing
  • Finance and Insurance
  • Consumers

  • Key Selling Industries
  • Chemical Wholesaling
  • Gasoline & Petroleum Wholesaling
  • Industrial Machinery & Equipment Wholesaling
  • Inorganic Chemical Manufacturing

  • Products & Services
  • Gold ore and concentrates
  • Silver ore and concentrates
  • N/A
  • Chart: Gold & Silver Ore Mining Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Jewelry fabrication and manufacturing
  • Electrical and electronic equipment
  • Coin production and investment bullion
  • All other
  • Exports
  • Chart: Major Market Segmentation for the Gold & Silver Ore Mining Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Gold & Silver Ore Mining

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Gold & Silver Ore Mining Industry

  • Industry Globalization
    Barrick Gold Corporation, Newmont Mining Corporation, Kinross Gold Corporation,
  • Table: Barrick Gold Corporation - financial performance
  • Table: Newmont Mining Corporation - financial performance
  • Table: Kinross Gold Corporation - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Gold & Silver Ore Mining Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Gold & Silver Ore Mining Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Price of Gold (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Bullion
  • Gold cast into ingots or coins, typically with a purity of 99.9% gold, valued by its mass and purity.
  • Concentrate
  • A very fine, powder-like product containing the valuable ore mineral from which most of the waste mineral has been eliminated.
  • Dore
  • After being mined, this first stage in the purification process of the gold ore produces a cast bar (gold dore) that is about 90.0% gold.
  • Troy Ounce
  • A unit of imperial measure most commonly used to gauge the weight of precious metals and defined as 0.0311034768 kg = 31.1034768 g.
  • What Our Customers Say

    Why buy this report?

    The Gold & Silver Ore Mining Industry Research Report measures market size, analyses current and future trends, and provides an indication of market share for the industry’s largest companies. IBISWorld’s collection of industry market research reports gives you insightful, up-to-date information on the supply chains, economic drivers, and key buyers and markets for hundreds of industries.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Gold & Silver Ore Mining:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Gold & Silver Ore Mining market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Gold & Silver Ore Mining, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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