Below is an overview of the 10 largest gold mines in the world, based on 2017 production figures from the GFMS team at Thomson Reuters, and on production stats released by gold miners.
Worlds 10 biggest gold mining companies based on 2020 production, and review of Jr. mining explorer Lucky Minerals Inc. News Provided By Market Equities Research
MiningIntelligence estimates gold production to be about 2 million ounces each year, which makes it the biggest gold mine in the world. Another omission is Barricks Carlin Trend operations in ...
At a country level, China is the largest producer in the world accounting for around 11%of total global production. However, no Chinese company appears among the top miners. At the top of the gold mining companies list, Colorado based Newmont has ownership of mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname. As the only American company on the list, Newmont produces 21% of the yellow metal poured by the top companies. Canada, which is known for its mining industry, has three companies on the list; Barrick Gold, Kinross Gold, and Agnico Eagle, producing 32% combined. Russia, which is expected to become the worlds top producer by 2029, has two companies ranked. Together, Polyus and Polymetal represent 15%of the top miners production. The top 10 players account for 22% of the total market share, which is anticipatedto grow due to increased merger and acquisition activities.
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Over six and a half thousand years after its discovery, more than 90%of the gold mined annually is destined for jewelry, bullion, and coins. 1. Jewelry: 36.83%, 2. Investment: 46.64%, 3. Central banks: 8.58%, 4. Technology: 7.95% The metal is also used in dentistry, as it is the best material for fillings and crowns since it is easy to insert, and is non reactive with the human body.
Global production fell by 1% in 2020, the first decline in a decade, according to the World Gold Council. Some analysts argue the world has reached peak gold which means that the maximum rate of extraction has passed and the production of the metal will continue to fall until, eventually, mining for it shall cease entirely. Demand, however, shows no sign of slowing down as the golden metal remains firmly synonymous with security, stability, and longevity.
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Worlds 10 Largest Gold Mines by Production
Below is an overview of the 10 largest gold mines in the world, based on 2017 production figures from the GFMS team at Thomson Reuters, and on production stats released by gold miners.