This article discusses the 5 Countries That Produce the Most Gold in the World. If you want to get detailed analysis on the gold sector and other Countries That Produce the Most Gold in the World, you can head on to 20 Countries That Produce the Most Gold in the World.
5. United States
Gold Mining Production Volume: 172.7 Tons
Barrick Gold, Newmont, Kinross Gold, Coeur Mining, Rio Tinto, and Hecla Mining are the most prominent and leading players of mining industry in the U.S. The country ranked as the fifth largest gold producer in 2022 and saw a 2% increase in its gold production compared to 2021. During the last five years, there has been a decrease of 3.51% CAGR but significant growth of around 8% is expected in the coming years.
4. Canada
Gold Mining Production Volume: 194.5 Tons
Canada stands as the fourth largest producer of gold with a production of 194.5 tons of gold in 2022. 72% of this total gold production came from Ontario and Quebec whereas the remaining gold was mined in the other eight Canadian provinces and territories. Gold mining industry serves as the backbone of the Canadian economy, providing jobs, economic development and revenues from exports.
3. Australia
Gold Mining Production Volume: 313.9 Tons
With a claim of holding the largest economic gold reserves in the world, Australia has positioned itself as a dominant player in the global gold industry. Australia’s gold reserves are spread across various states and territories but almost 60% of them are present in Western Australia. In the fiscal year 2022, Australia produced whopping 314 tons of gold, approximately!
2. Russian Federation
Gold Mining Production Volume: 324.7 Tons
Russia is one of the world’s leading gold producers and has vast reserves of the precious metal. The country’s gold mining industry has been steadily growing over the years, benefiting from its extensive mineral-rich territories. Major gold mining companies in Russia include Polyus, Polymetal, Kinross Gold, and Highland Gold, among others. These companies employ advanced mining technologies and practices to extract gold efficiently and sustainably.
Siberia, the Russian Far East, and the Urals are among the key regions where significant gold deposits are found. The exploration and development of these deposits contribute significantly to Russia’s gold production.
1. China
Gold Mining Production Volume: 375.0
China holds the distinction of being the world’s largest gold mining country in terms of production volume. Yantai, known as the “City of Gold,” has been acclaimed as the “Top Gold Producer in China” for an impressive 39 consecutive years.
Yantai is celebrated as the “Hometown of Gold” due to its abundant gold resources, which account for one-fourth of China’s total gold reserves. Chinese gold is renowned for its purity, typically being 24 karats. It stands out with its vibrant yellow hue, soft, malleable texture, and unique characteristic of never tarnishing or rusting.
Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a peek at 20 Biggest Energy Companies in Australia for 2024 and Top 15 Sugar Companies and Manufactures in the World.
