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4,921 tonnes of gold production in 2014 - LBMA GD refiners

Wednesday, May 18, 2016

Gold and silver production data by LBMA accredited refiners.

In 2014 total refined gold production by the refiners on the LBMA’s Gold Good Delivery List was 4,921 tonnes (see chart below). This is above world mine production of 4,394 tonnes (source: Thomson Reuters GFMS) with the difference reflecting the recycling of material by LBMA GD refiners converting large 400 oz bars into kilobars. The gold refined by refiners on the List make approximately 85-90% of world production.

Notes:

  1. Refined production should include only the refinery’s output that has gone through a refining process.
  2. The production for newly accredited refiners excludes production in the years prior to accreditation.

For silver, refined production by refiners on the LBMA’s Silver Good Delivery list in 2014 was estimated to be 31,131 tonnes, above the 33,025 tonnes of mine production in 2014 (source: Thomson Reuters GFMS) see chart below.

Notes:

  1. Refined production should include only the refinery’s output that has gone through a refining process.
  2. The production for newly accredited refiners excludes production in the years prior to accreditation.

The current geographical breakdown of refiners on the LBMA’s Good Delivery Lists is shown in the table below.

Area Gold and Silver Gold Only Silver Only Total
Africa 1 0 0 1
Americas 9 2 1 12
Asia 30 11 20 61
Europe 12 4 7 23
Oceania 1 1 0 2
Refineries 53 18 28 99
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