Data Validation

What is Data Validation

Data validation is performed by cross referencing reports produced from the data collected by PMM against reports produced by by respected reporting bodies. These other reporting bodies include: peak bodies, geological survey organisations, state and national government agencies, intergovernmental organisations (IGO), non-governmental organisations (NGO) and commercial organisations, including royalty companies. Comparisons require that “apples are being compared with apples”, which necessitates a series of definitions which can be found here.

Data Validation Dashboard

The table below shows the Precious Metals Mining (PMM) annual production in troy ounces for silver and gold compared to: the World Gold Council (WGC), the Silver Institute (SI), the United States Geological Survey (USGS), the British Geological Survey (BGS) and World Mining Data for the years between 2019 and 2023.

Peak Body Reporting

The World Gold Council (WGC) is the peak body for gold, globally. The Silver Institute (SI) performs the same role for silver.

Geological Surveys Reporting

Global data is provided by the United States Geological Survey (USGS) and the British Geological Survey (BGS). These reports usually lag the peak body reports by a year. World Mining Data (WMD) is another survey which has a global perspective. WMD is an arm of the Austrian Government.

Nation State Reporting

Reporting agencies of individual nation states (political units) include: Bureau of Statistics, Government Ministry of Mining, Chamber of Mining, Mining Associations, Geological Surveys and the national Central Bank.

Intergovernmental Organisation (IGO) Reporting

PMM reports are also compared against reporting from IGOs like EITI (Extractive Industry Transparency Initiative).