In this brief article, we’ll discuss the top 5 gold mining companies globally and their operations. To get more insights into the precious metal’s mining and supply chain, read Top 20 Gold Mining Companies in the World.
5. Agnico Eagle Limited (NYSE:AEM)
Market Capitalization: $24.535 billion
Agnico Eagle Mines Limited (NYSE:AEM) has been an established Canadian gold producer since 1957. The company’s prominent LaRonde mine in Quebec is among Canada’s largest active gold mines. In the third quarter of 2023, Agnico Eagle Limited (NYSE:AEM) maintained strong gold production and cost management. It reported payable gold production of 26.5 tons for the quarter, with an average all-in-sustaining cost of $1,210 per ounce. This quarter’s output was notably supported by robust production from the Canadian Malartic and Meadowbank complexes, as well as the Kittila mine, which compensated for lower production at the Detour Lake and Fosterville mines.
4. Barrick Gold Corporation (NYSE:GOLD)
Market Capitalization: $28.931 billion
Barrick Gold Corporation (NYSE:GOLD) boasts a market capitalization of $28.931 billion as of the writing of this article. The corporation operates 16 sites across 13 countries. In Q3 2023, production at Barrick Gold increased compared to the previous quarter. The Cortez and Turquoise Ridge mines, along with the Kibali mine, contributed significantly to this surge. Looking forward, the company is optimistic about its Pueblo Viejo mine, predicting its annual output will surpass 25 tons in 2024. Additionally, Barrick Gold Corporation (NYSE:GOLD) is advancing its portfolio by actively developing the Reko Diq copper and gold project in Pakistan, with construction scheduled to start in 2025 and production expected to begin in 2028.
3. Newmont Corporation (NYSE:NEM)
Market Capitalization: $31.013 billion
Newmont Corporation (NYSE:NEM) manages operations across North America, South America, Australia, and Africa. Its Boddington mine in Australia stands as the country’s largest gold producer, complemented by the Ahafo and Akyem mines in Ghana. Newmont Corporation produced 1.3 million ounces of gold in Q3 2023. The company is on track to meet its annual target of 5.3 million ounces of gold while aiming to maintain an all-in-sustaining cost of $1,400 per ounce.
2. Zijin Mining Group Company Limited
Market Capitalization: $42 billion (1 CNY = 0.14 USD)
Zijin Mining Group Company Limited is a Chinese multinational mining company specializing in gold, copper, zinc, and other mineral resource explorations and developments. With an extensive product suite, Zijin stands out for its rapid growth through international acquisitions and partnerships. It operates the Zijinshan Gold-Copper Mine, the second-largest copper and gold mine in China. The corporation also has various investments in other regions, like the Kolwezi copper mine in the Democratic Republic of the Congo and the Porgera gold mine in Papua New Guinea. Between January and September 2023, the company’s mine-produced gold stood at 55.2 tons.
1. Freeport-McMoRan Inc (NYSE:FCX)
Market Capitalization: $50.404 billion
Freeport-McMoRan Inc., headquartered in Phoenix, Arizona, is a leading international natural resources company with significant gold, copper, and molybdenum mining operations. In the third quarter of 2023, Freeport-McMoRan Inc. demonstrated robust operational execution, achieving solid production numbers. Across its portfolio, the company reported a total production exceeding 15.625 of gold for the quarter and sold around 12.46 of the precious metal.
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