Real Assets
Visualizing the $2.9B Money Flow into Gold Exploration
Visualizing the $2.9B Money Flow into Gold Exploration
In 2020, the price of gold reached multi-year highs, in part to the impact of COVID-19 shutdowns. This renewed interest in gold spurred the plans of many gold exploration and development projects around the world.
This infographic uses data from Mining Intelligence which tracked the $2.87 billion from 425 transactions for gold projects in 41 countries between February 1, 2020, and February 28, 2021.
Gold Financings, by Country
Five countries accounted for 75% of the money raised for top gold projects around the world.
Canada attracted the most with $965 million or roughly 34% of all the money raised for gold exploration and development.
Country | Amounts ($USD) | Number of Transactions |
---|---|---|
Canada | $965,066,856 | 180 |
Mexico | $389,087,534 | 25 |
Australia | $291,040,977 | 43 |
United States | $255,563,607 | 82 |
Chile | $253,711,427 | 2 |
Mali | $85,728,402 | 13 |
Guatemala | $75,939,982 | 4 |
Colombia | $71,389,229 | 4 |
Burkina Faso | $58,937,852 | 2 |
Greenland | $54,739,544 | 1 |
Fiji | $44,024,224 | 3 |
Nigeria | $40,660,735 | 1 |
Ivory Coast | $37,608,031 | 4 |
Argentina | $30,678,621 | 5 |
Brazil | $30,292,143 | 9 |
Nicaragua | $29,040,361 | 4 |
Tanzania | $22,215,178 | 2 |
Finland | $2,106,0740 | 2 |
Mongolia | $15,120,700 | 1 |
Ghana | $14,894,336 | 4 |
Kyrgyzstan | $13,651,801 | 1 |
Namibia | $13,041,621 | 1 |
Ecuador | $8,644,975 | 1 |
Bulgaria | $6,879,450 | 1 |
Japan | $6,569,742 | 2 |
Guyana | $6,282,134 | 2 |
United Kingdom | $4,796,983 | 3 |
Dem. Republic of the Congo | $4,528,450 | 1 |
Peru | $4,436,335 | 6 |
Sudan | $4,066,484 | 1 |
Cameroon | $3,252,956 | 4 |
Papua New Guinea | $1,737,903 | 2 |
Serbia | $1,478,579 | 1 |
Kenya | $1,288,041 | 1 |
Spain | $1,074,211 | 1 |
Dominican Republic | $992,252 | 1 |
Guinea | $387,483 | 1 |
Kazakhstan | $334,733 | 1 |
Honduras | $296,096 | 1 |
Indonesia | $213,835 | 1 |
South Africa | $102,959 | 1 |
Total | $2,870,857,503 | 425 |
In second place, Mexico attracted $389 million or 14% of total exploration dollars raised while Australia with $291 million (10%) is in third place.
The United States comes in fourth place with $256 million or 9% of global gold exploration dollars. Chile on the fifth spot received $254 million (9%) with one project attracting the largest amount of any on the list.
Top 10 Financings by Gold Project
Focusing on individual projects, Gold Fields’ Salares Norte project in Chile received $252 million for the largest financing of the period. The company started construction this year, after a delicate operation to remove endangered chinchillas from the site.
Silvercrest’s Las Chispas project in Mexico’s Sonora state received $228.9 million, giving it the second largest sum. According to the company, the property hosts 94.7 million ounces of silver equivalent (AgEq) in proven and provable reserves.
Properties | Location | Amount ($USD) | Company |
---|---|---|---|
Salares Norte | 🇨🇱 Chile | $251,845,426 | Gold Fields Ltd. |
Las Chispas | 🇲🇽 Mexico | $228,858,469 | SilverCrest Metals Inc. |
Windfall Lake | 🇨🇦 Canada | $130,539,783 | Osisko Mining Inc. |
Blackwater | 🇨🇦 Canada | $129,712,140 | Artemis Gold Inc. |
Magino | 🇨🇦 Canada | $108,128,440 | Argonaut Gold Inc. |
Dargues Reef | 🇦🇺 Australia | $96,500,680 | Aurelia Metals Ltd |
Cariboo | 🇨🇦 Canada | $95,460,630 | Osisko Development Corp. |
Marmato | 🇨🇴 Colombia | $66,116,989 | Aris Gold Corp. |
Cerro Blanco | 🇬🇹 Guatemala | $65,632,958 | Bluestone Resources Inc. |
Mount Morgans | 🇦🇺 Australia | $63,179,600 | Dacian Gold Ltd. |
Gold is Canada’s most valuable mined mineral and the next 3 projects on the list show this priority. Osisko Mining’s Windfall Lake project in Quebec is third ($130 million), Artemis Gold’s Blackwater mine ($130 million) in British Columbia is the fourth, and Argonaut’s Magino project in Ontario ($108 million) the fifth.
The analysis found that more than half of the money raised (57%), went to 63 gold projects to advance economic studies – from scoping studies or preliminary economic assessments through to bankable feasibility studies and permitting.
A total of 71% of the projects were in the early stages of exploration, but they only accounted for about 25% of the total capital raised during the period.
Gold Going Forward
With $2.9 billion in capital going into gold projects around the world, the gold industry has big plans. These financings represent opportunities for host countries’ economies and their workers, along with more gold for investors to buy.
Real Assets
How Much Gold is in Fort Knox?
The United States Bullion Depository holds more than half of the Treasury’s $428B in gold reserves.

How Much Gold Is in Fort Knox?
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
U.S. President Donald Trump has promised to visit Fort Knox “to make sure the gold is there.”
Officially, the United States Bullion Depository (commonly known as Fort Knox) holds over half of the Treasury’s $428 billion gold reserves.
In this graphic, we put that amount into perspective by comparing Fort Knox’s reserves with central bank gold reserves worldwide. The data comes from the U.S. Mint and the World Gold Council. For illustrative purposes, we considered a pallet of 1,190 gold bars (400 troy ounces each) weighing approximately 14.8 tonnes.
What Is Fort Knox?
Located in Kentucky, Fort Knox is a U.S. Army installation that serves as the primary storage site for America’s gold reserves. The facility was established in the 1930s to protect gold from potential foreign attacks.
The first gold shipment arrived in 1937 via U.S. Mail from the Philadelphia Mint and the New York Assay Office. During World War II, Fort Knox safeguarded important U.S. documents, including the Declaration of Independence, the Constitution, and the Bill of Rights. It has also housed international treasures, such as the Magna Carta and the crown, sword, scepter, orb, and cape of St. Stephen, King of Hungary, before they were returned in 1978.
Currently, it holds 4,175 tonnes of gold, equivalent to nearly half of China’s gold reserves and four times the Swiss central bank’s reserves.
Reserves | Gold (Tonnes) |
---|---|
🇺🇸 U.S. Reserves | 8,133 |
🏛️ Fort Knox | 4,175 |
🇨🇳 China | 2,280 |
🇯🇵 Japan | 846 |
🇨🇭 Switzerland | 1,040 |
🇮🇳 India | 876 |
🇰🇷 South Korea | 104 |
🇸🇬 Singapore | 220 |
🇧🇷 Brazil | 130 |
🇲🇽 Mexico | 120 |
🇹🇭 Thailand | 235 |
Only small samples have been removed for purity testing during audits; no major transfers have occurred for years.
Gold Bar Specifications
- Size: 7 inches × 3 5/8 inches × 1 3/4 inches
- Weight: 400 ounces (27.5 pounds)
Extreme Security
Only a select few know the full security procedures, and no single person knows how to fully open the vault.
In 1974, a group of journalists and a Congressional delegation were allowed inside—marking the first official visit since Fort Knox’s creation. Previously, President Franklin D. Roosevelt was the only person other than authorized personnel to access the vaults.
In 2017, Treasury Secretary Steve Mnuchin, Kentucky Governor Matt Bevin, and several Congressional representatives became the second group to visit the vault.
Learn More on the Voronoi App 
If gold was shared equally, how much would you get? Check out this graphic to find out.
Real Assets
Charted: Top Suppliers of Aluminum and Steel to the U.S.
President Trump has imposed a 25% tariff on all steel and aluminum imports.

Charted: Top U.S. Suppliers of Aluminum and Steel
This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.
U.S. President Donald Trump has imposed a 25% tariff on all steel and aluminum imports, marking one of the most discussed measures of his first month back in the White House.
But which countries are most affected by these tariffs?
This map illustrates the top suppliers of aluminum and steel to the United States in 2024. The data comes from the U.S. Census Bureau. Aluminum includes unwrought aluminum, plates, sheets, and strips; bars, rods, and profiles; foil; wire; pipes and tubes; castings and forgings; and tube or pipe fittings.
Canada: The Largest Partner
Canada is by far the top supplier of both steel and aluminum to the United States. The neighboring country exported $9.4 billion worth of aluminum to the U.S. in 2024, significantly ahead of the second-largest exporter, the European Union, which exported $1.5 billion.
Canada also exported $7.1 billion worth of steel last year, compared to $7 billion from the European Union.
Country | Steel Imports (USD) | Aluminum Imports (USD) |
---|---|---|
🇨🇦 Canada | $7.1B | $9.4B |
🇲🇽 Mexico | $3.5B | $397M |
🇧🇷 Brazil | $3.0B | - |
🇨🇳 China | $799M | $809M |
🇹🇼 Taiwan | $1.3B | - |
🇰🇷 South Korea | $2.9B | $781M |
🇩🇪 Germany | $1.9B | $318M |
🇯🇵 Japan | $1.7B | - |
🇮🇳 India | $489M | $445M |
🇪🇺 European Union | $7B | $1.5B |
🇦🇪 UAE | - | $917M |
🇧🇭 Bahrain | - | $535M |
🇦🇷 Argentina | - | $468M |
🇹🇭 Thailand | - | $271M |
🇬🇧 UK | $440M | - |
Mexico, South Korea, and Brazil are also among the top suppliers of steel to the United States. Meanwhile, the country imports aluminum from other key partners, including China, the United Arab Emirates, South Korea, Bahrain, and Argentina.
A recent report by the Center for Strategic and International Studies (CSIS) noted that the U.S. produces less than 2% of the world’s primary aluminum.
Learn More on the Voronoi App 
If you enjoyed this graphic, be sure to check out this chart illustrating the GDP impact of Trump’s tariffs on China.
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