Miner setbacks: Weak growth in world gold prices has limited industry growth

Despite gold being a valuable resource and a good store of value, the Gold Ore Mining industry has performed poorly over the past five years. Reduced inflationary expenses around the world have seen the world price of gold increase only slightly in US dollar terms over the period. Low interest rates and quantitative easing significantly limited global and domestic inflation over the past five years. Gold's role as a store of value was therefore diminished, which kept the world price of gold largely static.Weak growth in world gold prices discouraged industry firms from significantly increasing gold ore mining volumes. This has reduced industry output slightly over the past five years, negatively affecting revenue...read more.

Industry Statistics & Market Size
Revenue
$802m
Annual Growth 14-19
0.3%
Forecast Growth 19-24
x.x%lock
Profit
x.x%lock
Employment
1,200
Businesses
85
Market Share of Companies

Industry Threats & Opportunities

  • Falling output and modest gold price increases in local currency terms has limited industry growth
  • Low gold prices have led to low growth in gold output volumes over the past five years
  • World gold prices are forecast to decline slightly over the next five years

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    Industry Report - Industry Key Buyers Chapter

    Industry concentration is high due to the dominance of OceanaGold Corporation, which is expected to account for 70.2% of industry revenue and volumes in 2018-19. The company operates two major gold ore mine sites in New Zealand, and carries out beneficiation processes to produce large volumes of gold dore bars. All other firms in the industry are small in scale and are individually expected to account for less than 1% of industry revenue in the current year.The industry's concentration has increased over the past five years, as OceanaGold Corporation has increased its market share. The company acquired Waihi gold mine from Newmont Mining in October 2015, effectively replacing its Reefton mine that was closed in December 2016. As ...purchase to read more.

    Additional Insights for the Gold Ore Mining Industry

    IBISWorld has determined the most important Key Success Factors for the Gold Ore Mining are:

  • Ability to accommodate environmental requirements
  • Availability of resource
  • Economies of scale

    • IBISWorld analysts also discuss how external factors such as World price of gold and US dollars per New Zealand dollar in the Gold Ore Mining industry impact industry performance..

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    Industry Products

    What is the Gold Ore Mining in New Zealand Industry?

    Industry players extract gold ore using opencast and underground mining techniques. The industry includes firm that use a gold ore beneficiation process, which is carried out prior to final smelting and refining. The industry also includes gold dore bar production (semi-pure gold bullion bar).

    Industry Products
  • Gold dore bars
  • Alluvial gold
  • Gold concentrate
    • Industry Activities
  • Gold ore mining
  • Gold ore dredging
  • Gold ore beneficiation processes
  • Gold dore bar production
  • Roasting and flotation extraction of gold ore
  • Reworking of tailings for gold
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • World price of gold
  • US dollars per New Zealand dollar
  • Capital expenditure on mining
  • World GDP

    • Current Performance
  • Gold price influences
  • Small volume declines
  • Mixed revenue and profit
  • Enterprises and employment
  • Chart: Revenue Growth

    • Industry Outlook
  • Weaker global pricing
  • Revenue and export changes
  • Forecast employment growth
  • Table: Gold Ore Mining Industry Revenue Outlook

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

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Metal and Mineral Wholesaling in New Zealand
  • Non-Ferrous Metal Product Manufacturing in New Zealand

    • Key Selling Industries
  • Engineering Consulting in New Zealand
  • Heavy Machinery and Scaffolding Rental and Hiring in New Zealand
  • Industrial and Mining Machinery Wholesaling in New Zealand
  • Mining Support Services in New Zealand

    • Products & Services
  • Gold dore bars
  • Alluvial gold
  • Gold concentrate
  • Chart: Gold Ore Mining Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Exports
  • Domestic gold smelting and refining firms
  • Chart: Major Market Segmentation for the Gold Ore Mining Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Gold Ore Mining

    • Basis of Competition
  • Internal competition
  • External competition

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

    • Industry Globalization

    Major Companies

    OceanaGold Corporation,
  • Table: OceanaGold Corporation - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Gold 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

    Key Statistics

    Table: Industry Data for the Gold Ore Mining Industry
    Includes:
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)
  • Gold Production (2010-2024)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Alluvial Gold
  • Gold extracted from rivers and streams, often via a dredging process.
    • Beneficiation
  • Basic processing carried out at the mine site to remove waste product from the ore.
    • Dore Bars
  • Semi-processed gold bars containing approximately 80% to 90% pure gold. These are often made at processing facilities at gold mining sites and transported to refineries for further refining.
    • Opencast Mines
  • A type of surface excavation mine in the form of an inverted cone. The shape of the mine opening varies with the shape of the mineral deposit. Also known as open-pit or open-cut mining.
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    Why buy this report?

    IBISWorld’s Gold Ore Mining in New Zealand market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

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    This report on Gold Ore Mining in New Zealand:
    • 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 Ore Mining in New Zealand 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 Ore Mining in New Zealand, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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