WEALTH OF GOLD

Evening Post, Volume CXIV, Issue 50, 27 August 1932, Page 15

WEALTH OF GOLD

THE CANADIAN OUTPUT

TWELVE MILLION' MARK

Production of gold in Canada for 1931 amounted to 2,693,892 fine ounces, valued at 55,687,688 dollars (about £ 11,450,000 at normal exchange). This constitutes a new, high record in the gold mining industry of, Canada and for the:second year in succession established Canada in the position oE the second largest gold-producing country m the world. First place isheld by! South." Africa by a handsome, margin".'. . The British Empire last year produced about five-sevenths of the world's gold, olin round figures 15,000,000 fine ounces out; of 21,000,000. British Africa, -including Ehodesia and West Africa-, alone produced 10,877.777 fine ounces; or "well above halij the world's total.'

In their ranking 'order gold-producing countries last year, according-to..the Canadian Bureau of Statsties,.-were Britisli South Africa, Canada, United States, Russia and Siberia, Mexico, Australia, Rhodesia, Japan, India, British West-Africa. Belgian Congo, Philippine Islands, Jxevr, Zealand, and Brazil.

Six provinces and the Yukon Territory contributed to Canada's 1931 total, Ontario being far in the'lead with. 2,085,911 fine ounces. For the present year it is estimated that production will exceed a. value of. £12,000..000 ) and for 1933 an increase to more than £13,000,000',is.anticipated. As a matter .of.'fact the. earning? o£ gold mines in Canada are in excess of the earnings of any other industry.

Canada stands first among all countries in the production of nickel and asbestos, : second _in gold, platinum, and aluminium, i and third in copper, lead, zinc,' and silver.: