The world's production of gold for 2015 was estimated by the US Geological Survey (USGS) to be 3,000 tonnes; this was barely an increase over the 2014 level of 2,990 tonnes. Mines in China were estimated to have produced 490 tonnes in second place. South Africa once the largest gold producer continues to see production shrink to 140 tonnes in 2015.
As has been the case for many years the mine supply of gold has fallen short of total demand. According to the World Gold Council's latest figures, 4Q'15 total demand for gold was 1,117.7 tonnes, up 4% on a year ago. Total mine supply of 809.8 tonnes fell 9% year on year. Every year the shortage in mine supply of gold is compensated by net official sales and/or from private dishoarding or from scrap gold.
Colombia's gold production for 2015 was 59.2 tonnes up 3.8% from 2014 (ANM). Production mainly comes from the Antioquia and Choco departments.