The lead graphic, from OECD, in your introduction is a puzzle.
Just the first bar, "precious metals ores and concentrates," opens up some questions.
1. By the footnotes, this bar includes gold, platinum, iridium, osmium, palladium, rhodium, and ruthenium.
2. However, platinum has its own dedicated bar a few spots down, which correctly lists SA as the primary world supplier.
3. Logically, gold would be an important portion of the metals listed. Yet the country accounting for 90% of the bar is South Africa. But SA produces only 3% of the world's gold. The big five are China, Australia, Russia, USA, and Kazakhstan, which produce 40% of world output.
I may be missing something, but the easy answer is that, as with many global organizations, they may have a narrative supported by creative reporting.
Hi Dan.
The lead graphic, from OECD, in your introduction is a puzzle.
Just the first bar, "precious metals ores and concentrates," opens up some questions.
1. By the footnotes, this bar includes gold, platinum, iridium, osmium, palladium, rhodium, and ruthenium.
2. However, platinum has its own dedicated bar a few spots down, which correctly lists SA as the primary world supplier.
3. Logically, gold would be an important portion of the metals listed. Yet the country accounting for 90% of the bar is South Africa. But SA produces only 3% of the world's gold. The big five are China, Australia, Russia, USA, and Kazakhstan, which produce 40% of world output.
I may be missing something, but the easy answer is that, as with many global organizations, they may have a narrative supported by creative reporting.
Gary H
Fredericksburg Texas
The gold and precious metals bar does not seem correct.
I'll be mining gold this summer in eastern Oregon - might prospect for some rare earth minerals too...
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