5 Countries That Produce the Most Gold

2. Russian Federation

Tons of Gold Produced in 2021: 330.9

The Russian Federation is the world’s largest country in terms of land mass. It is also rich in mineral resources, and exports petroleum, natural gas, aluminum, palladium, and copper among other minerals. Tracing its roots back to the Soviet era, mining in Russia is concentrated in the hands of a few key and large players. The bulk of its gold deposits is located in Siberia and the Russian Far East. Additionally, the Russian gold industry is unique in the sense that foreign companies hold large stakes in it. The country produced 330.9 tons of gold in 2021.