Hey everyone I hope you all are fine and doing great. Today I'm going to Write about the Country Canada & It's gold reserves and how gold reserves are playing their role in It's economy
Overview
It is a country famous for it's vast natural resources, beautiful landscape and huge amount of gold reserve. It is located in North America and borbered by arctic ocean, atlantic ocean, pacific ocean and united states Of Amercia.
The country has a population of 38.1 million people and it is the 2nd largest country by land area.
Gold Mining History
Canada has a long and old history of Gold mining which is dated back to mid-1800s. The first gold rush in Canada occurred in 1858 in British Columbia which pave the way for the development of many mining firms and royal canadian mint.
with the increase of gold discoveries canada has become of the world's leading gold producer.
Gold Reserves
There is also a news that they have sold all their gold reserves.
I also have a news that they recently purchased 90-100 tones of gold secretly.
Central Bank of Canada
These Gold reserves are held and managned by Central Bank of Canada. The CBC also manages the country's Monetary Policy including Financial assets and foreign Exchange Reserves.
It has the authority to sell and buy gold as to maintain the stability in the Country's Currency and also in the financial System.
Challenges.
In recent years, there has been growing concern about the environmental impact of gold mining in Canada and Country is facing some Challenges which i'm listing below
- Deforestation
- Soil erosion
- Water pollution
- Emission Of dengrious Chemicals.
The Governament is trying it's level to work on all the challanges they are facing when it comes to Gold mining.
