World gold producers
The global gold market is open 24 hours a day. The main demand is formed by jewelry companies, but the precious metal is actively used in industry, medicine, and the production of high-tech products. Do not forget about the financial demand, which determines the use of gold as assets for investors.
Have you ever wondered where the gold was extracted from which your jewelry was made? Perhaps small precious grains alluvium boy in the river in Madagascar? Or did a South African miner working at the Tau-Ton mine get metal from a depth of 3,900 meters?
Gold mining in various parts of the world
There are no gold mining enterprises except in Antarctica. On all other continents, dozens of open pit mines are already in operation.
The leader of world production is Asia – it accounts for 22% of world production. In the first place it was brought by a real “locomotive” – China, whose government passed laws simplifying the purchase of gold, which stimulates demand. The growth of production was promoted by an increase in the standard of living of the Chinese and their massive resettlement to the cities.
Central and South America supply 17%, North America – 15%, the region of the former Soviet Union – 14%. Africa produces 20%, and over the past 25 years, production has decreased by several times. The reason for the decline was the closure of deposits in South Africa because of their low profitability.
Leading Gold Countries
China has been a champion manufacturer for over 10 years. According to a GFMS analyst report, in 2016 the country produced 455 tons of gold, which is 5 tons more than in 2015. In 2017, production is expected to exceed 460 tons.
The second place is firmly held by Australia, which in 2016, for the first time in 17 years, reached production levels of 298 tons (according to Surbiton Associates). The third place is Russia – 288.5 tons.
According to the USGS (US Geological Survey), the top ten also includes:
USA – 209 tons of gold
Canada – 170 tons;
Peru – 150 tons;
South Africa – 140 tons;
Mexico – 125 tons;
Indonesia – 100 tons;
Uzbekistan – 100 tons.
The big gold deposit belongs to the government of Uzbekistan. The field, located in the Kyzyl-Kum desert, is called Muruntau. Potential gold reserves: 2500-5300 tons. Annual production is about 60 tons.
By the way, USGS researchers argue that while maintaining the current pace, gold reserves on Earth will be depleted after 18 years. What companies are responsible for this?
TOP-5 gold companies
Global gold production in 2016 amounted to 3200 tons or 20% of the volume, that is, 640 tons accounted for the 5 largest gold mining companies.
Barrick Gold. First place in the world ranking is taken by the Canadian corporation, whose share is 5.5% of the mined gold. The company’s assets include deposits in North and South America, Africa and Australia.
Newmont Mining. The American company produces 4.9% of the annual volume. It was founded in 1913, and by 1939 owned 12 gold mines in North America. In addition to gold, Newmont Mining mines silver and copper.
AngloGold Ashanti. The gold that the company sells is mined on four continents. It supplies the world market with 3.6% of total production.
Goldcorp Inc. The company is still in fourth place, despite a significant decline in production: 2870000. Ounces in 2016 against 3460000. Ounces in 2015. The reduction in production was due to the closure of one of the largest mines Cerro Negro in Argentina and the deterioration of the ore stockpile in the fields of Mexico.
Kinross Gold. Another Canadian company that mines gold in the United States, Russia, Chile, and Brazil. It, on the contrary, increased its production due to the acquisition of new deposits.
The company Barrick Gold in the framework of promotions regularly exposes a gold coin, minted for the Royal Canadian Mint. She weighs 100 kg. with a nominal value of one million Canadian dollars. Numismatist’s real dream!
At present, the volume of world gold production has reached the level of a plateau. Most companies in the period of a long decline in prices (2012-2016) have reduced budgets for the development of projects and are not in a hurry to defrost them. However, sooner or later they will have to spend money on finding new deposits and developing new mining methods.