The global production of gold is an estimated 2,500-3,000 tonnes per year, creating a production market worth in excess of $100 billion per year. In recent years, gold prices have remained relatively stable with an upward trend resulting in a 30% gain since 2015 driven primarily by demand increases.
Gold has many traditional uses, including jewellery and as a store of economic value, although increasingly gold is being utilised in a variety of advanced technologies. Beyond its atheistic allure, gold is unique in its ability to conduct electricity and resist corrosion, and is highly malleable. Gold is used in many electronic devices such as mobile phones, and is at the vanguard of research in areas such as biotechnology, nanotechnology and other advanced engineering. Similarly, silver and other precious metals such as platinum and palladium are increasingly important to technological innovation.
Santiago Precious Metals are specialists in precious metal exploration and mining and we are headquartered in Santiago, Chile, placing us with ideal access to the under explored regions of the Andes Mountains in South America. The famed lands of El Dorado have for centuries attracted exploration activity and discoveries of new reserves continue to this present day.
Santiago Precious Metals primarily focuses our exploration activity on regions with longstanding political stability, developed infrastructure, and attractive industry regulations. As a result, our exploration operations are focussed on the high Andes Mountains in the border regions between Chile and Argentina.
Production of precious metals in Chile and Argentina has consistently grown in recent years. Argentina is ranked 14th and Chile ranked 20th in terms of global production of gold in 2016, producing 2.1 million ounces and 1.4 million ounces respectively. Given the focus of precious metal production in both countries is in the border regions of the high Andes, this particular region is one of the world’s great gold mining areas and is the home to many of our operations.
Santiago Precious Metals believes in the continued growth in demand for gold and other precious metals. In addition we believe that our core territories of Chile and Argentina provide a solid opportunity for new reserve discovery. We also believe that our commitment to the highest standards of corporate responsibility, considering the social and environmental impact of our activities, will be increasingly valuable. Santiago Precious Metals is committed to discovering reserves of gold and precious metals, and generating significant value for our shareholders in the coming years.