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Abstract
WORLD output of gold, excluding the production of the U.S.S.R., Mainland China, and countries associated with them, increased in 1964 for the eleventh consecutive year. The increase of about 3.4 per cent carried total production to the highest figure ever reached, about 40 million ounces, worth (at $35 a fine ounce) approximately $1,400 million (Table 42). This was almost entirely the result of increased production in South Africa. The comparable figure for the value of output in 1963 was $1,354 million; in 1962, $1,300 million; in 1961, $1,215 million; and in 1960, $1,178 million. The gold mining industry in South Africa again established new records; its production increased by more than 1.7 million ounces (6.2 per cent) to a total of 29.1 million ounces, equivalent in value to $1,020 million. This output constituted approximately 73 per cent of world production.
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