China produced roughly 380 tonnes of gold in 2020 recording the same output as the previous year, despite the impacts of the pandemic. The Asian powerhouse is also the worlds largest consumer of gold, and is estimated to be sitting on reserves of about 2,000 tonnes. Gold production is majorly carried out in the eastern provinces of Shandong, Henan, Fujian and Liaoning. China National Gold is one of the major gold producing companies in the country and, in April 2016, the company announced the acquisition of an 82% interest in the Jinfeng gold mine in Chinas southern Guizhou province from Eldorado Gold. The Jinfeng gold mine is an open pit and underground mine, which uses Biox technology and a conventional carbon in leach circuit to produce gold doré a semi pure alloy of gold and silver.
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Despite its gold production slipping from 325 tonnes in 2019 to 320 tonnes in 2020, Australia is currently second on the list of the top gold producing countries in the world. Some of the major gold mines in the countryinclude Cadia Ridgeway Mine, Boddington Gold Mine and Fosterville. The USGSs data estimates Australia holds gold reserves of about 10,000 tonnes. In August 2017, OZ Minerals announced it would construct the Carrapateena copper gold mine in South Australia at a cost of $724m.
In 2020, Russia produced 300 tonnes of gold marking a slight drop on the 300 tonnes it mined the previous year. The country has estimated gold reserves of 7,500 tonnes, and is home to one of the worlds largest gold mines, Olimpiada. Owned and operated by Polyus Gold, one of the largest producers in Russia, the Olimpiada mine is estimated to contain proven and probable reserves of 28 million ounces. The ore extracted from the mine is processed at three plants, with a combined capacity of 12.2 million tonnes annually.
The US recorded a gold production of 190 tonnes in 2020 a slight decrease from the 200 tonnes mined in 2019. The country sits in fourth place in the list of top gold producers in the world and has estimated gold reserves of about 3,000 tonnes. Some of the major gold mines in the countryinclude Carlin Trend gold mine, Goldstrike mine, Cortez gold mine, and Cripple Creek and Victor. Newmont Mining, Freeport McMoRan and Coeur Mining are some of the major gold producing companies in the US.
Canadas gold production decreased from 175 tonnes in 2019 to 170 tonnes in 2020 but it still ranks fifth on the list of the top gold producing countries in the world. Aura Minerals, Barrick Gold, Centerra Gold, and Goldcorp are some of the major producers in the country. USGS data estimates Canada is sitting on gold reserves of about 2,200 tonnes. Brucejack mine and Hope Bay mine were two of the largest operations to commence production in the country in recent years.
Interestingly, several of the top gold producing countries are also the top consuming countries. Top 10 Gold Producing Countries. The list of top countries in terms of gold production changes every year, but the countries most frequently listed are generally considered to be the largest gold producers in the world.
Gold mining is a global business with operations on every continent, except Antarctica, and gold is extracted from mines of widely varying types and scale. At a country level, China was the largest producer in the world in 2020 and accounted for around 11 per cent of total global production.