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  • 手工与小规模采金:黄金供应的重要来源

    26 八月, 2026. 02:00


    重点摘要

    • 手工与小规模采金(ASGM)是全球黄金市场中规模可观且持续扩张的板块,但该领域测算难度较高,相关生产活动常游离于法律监管框架之外。
    • 世界黄金协会携手金属聚焦公司,优化全球手工与小规模采金供应量估算,深化对全球黄金市场动态的研判。
    • 该项工作是遏制非法黄金流转、推动合规手工与小规模采金接入正规黄金供应链的重要举措。

    手工与小规模采金:深化行业认知 

    手工与小规模采金在黄金市场中的重要性持续上升。据估算,该板块产量约占全球黄金年产量的五分之一,为非洲、拉美及亚太地区约2,000万人提供生计。1但此类生产活动布局分散、多为非正规作业且难以溯源,因此长期以来,手工与小规模采金都是黄金供应链中最难开展可靠测算的板块之一。

    为弥补这一数据短板,世界黄金协会与独立贵金属咨询机构金属聚焦公司开展合作。该公司为本协会季度《黄金需求趋势报告》提供绝大部分供应端分析支撑,双方共同完善全球手工与小规模采金供应量评估工作。与此同时,我们联合合作方搭建扩容版手工与小规模采金测算模型,综合运用开源情报、地理空间分析与大数据分析技术。更为可靠的数据能够推动相关举措落地,也是制定行之有效的正规化方案的关键。

    全球供应占比持续攀升

    手工与小规模采金并非小众业态。过去十年,该板块对全球矿产金供应的贡献持续提升。规模增长由多重因素驱动:金价上行、多数产金区域替代性就业岗位不足、设备与专业技术获取门槛降低,以及部分精炼企业需求扩张。部分地区扩张幅度尤为显著:例如秘鲁,该国手工与小规模采金产量十年增幅超160%,2025年产量达100吨。

    图1:近五年手工与小规模采金产出稳步增长

    大型金矿、手工及小规模采金年度产量(单位:吨)


    近五年手工与小规模采金产出稳步增长

    来源:金属聚焦公司,世界黄金协会

    植根本土,影响全球

    各个国别市场充分体现出,当地的经济、地理与监管环境如何塑造该产业的发展格局。

    秘鲁的手工与小规模采金产业发展成熟,逾30万名从业者分布在三大特征迥异的区域——沿海山麓、安第斯高原以及亚马孙雨林。当地既有运营多年的大型加工厂,也形成独具特色的模式,可收购尚处在正规化进程中的采金从业者产出的黄金。与之相比,厄瓜多尔正处于产业转型阶段:机械化快速推进,促使手工采金主体重新划归为小规模采金,产量增速高于从业者数量的扩张速度。毛里塔尼亚的手工与小规模采金产业直至21世纪10年代才兴起,此后规模迅速扩张,市场制度体系几乎从零开始搭建。而非洲第四大黄金生产国坦桑尼亚,逾百万名手工采金从业者与大型金矿项目并行开展生产。

    纵观上述各国情况:尽管该产业大部分生产活动仍游离于正规框架之外,但其对全球黄金供应的重要性正持续提升。

    完善数据为何意义重大

    手工与小规模采金的测算工作本身难度较高。相关生产活动分散于数以万计的小型作业点,其中大量产出未纳入正规报送体系,因此随着新信息陆续披露,估算值自然会相应更新。更完备的信息有助于清晰掌握实际生产规模,厘清黄金在市场中的流转路径。

    手工与小规模采金测算方法优化带来的成果,已体现在近期《黄金需求趋势报告》中。我们与金属聚焦公司的合作,上调全球矿产金历史估算值,从而更完整地呈现手工采金的产出规模。

    从数据测算到深度认知

    提升手工与小规模采金的信息透明度与测算水平,其意义不止于填补数据缺口,更有助于加深对这一高度多元化全球产业的理解。各产金国的产业环境差异巨大,一套更清晰、口径更统一的实证基础,有助于厘清该产业的发展路径以及增长集中的区域。

    可靠的数据同样能够为负责任采购与溯源相关的各类研讨提供支撑;与此同时,黄金原产地核验技术的逐步应用,将进一步提升行业透明度。

    未来展望

    世界黄金协会的手工与小规模采金相关工作,包括推动集中式加工厂落地应用、部署原产地核验技术,并联动采购方,保障合规的手工与小规模采金产出能够进入正规市场。

    鉴于手工与小规模采金在全球黄金产量中的占比可观且持续提升,加深对该产业的理解将愈发关键。高质量的数据是做出科学决策的必要基础。通过持续与金属聚焦公司及其他机构开展合作,我们正在推动行业认知不断深化,进而呈现更为透明、完整的全球黄金供应全貌。

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    手工与小规模采金在黄金市场中的重要性持续上升。据估算,该板块产量约占全球黄金年产量的五分之一,为非洲、拉美及亚太地区约2,000万人提供生计。