Discovering new gold
Comment of the Day

October 12 2020

Commentary by Eoin Treacy

Discovering new gold

Eoin Treacy's view

There hasn’t been a new major gold discovery in three years and the volume of new discoveries has been declining for a decade. Since mining is an extractive industry this represents a problem because if a miner is to persist, they need to replace reserves.

If new major finds are becoming more difficult to find miners have a choice. They either need to come up with a new way of finding or they need to spend a lot more money to double down on the traditional way of doing it.

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