The Top 10 Gold Production Countries

Aug 23

Gold production has been fluctuating recently due to the rise and fall of gold prices. Presently, industries globally are working round the clock either prospecting or mining it. A survey in 2012 showed that 90 countries worldwide produced gold. However, 75% of the gold mined annually comes from the first top 20 countries. Approximately 2,700 tons of gold was mined by industries in 2012 according to US Geological Survey.

Their reports also indicated the list of the top 10 gold generating countries in 2011 remained pretty much the same in 2012. The following are the world’s top 10 gold production countries as of 2012.

China

For the last six consecutive years china has been the leading gold producing country globally. The output was 100 times more than what was produced in 1949 as stated by Forbes. The amount of gold mined in 2012 also surpassed the previous year by 11.7%. the amount mined in 2003 was half the amount produced in 2012 indicating tremendous effort and capital is being put in its extraction. Zijin Mining Company is the leading industry with its latest production exceeding 2 million ounces of gold. The country holdings are about 1054 tons according to World Gold Council.

Australia

The gold in this continent are estimated to be 7,400 tons as declared by Geo-science Australia. Gold mines are found in Western Australia, South Australia and New South Wales. The Super Pit mine, operated by Kalgoorlie Consolidated Gold Mines, is the largest in Australia. It produces about 0.85 million ounces of gold annually. Australian holdings are estimated to be 79.9 tons.

USA

USA produced 40,000 kilograms less in 2012 than the previous year and the value was placed at $12.6 billion. Newmont Mining Company, one of the leading in the world, produced 4.98 million ounces through its companies in 5 continents. They have the largest gold holdings approximated at 8,133,5 tons.

Russia

In the last year production of gold in Russia increased by 6.8%. The reserves in this country are estimated to be 5,000 tons and the official holding are 937.8 tons. Polyus Gold International the leading producer in Russia increased its yields by 12% in 2012 producing about 1.7 ounces of gold.

South Africa

The strikes in gold mines in 2012 caused a significant drop in gold production that year. Anglo-Gold Ashanti the leading producer here produced 74.1 million ounces. Its holdings are estimated at 125 tons. Looking as of right now in 2013, gold production continues to be lower.

Peru

Compania de Minas Buenaventura is the leading gold producing industry here. Its official gold holdings are 34.7 tons. However, the gold produced in 2012 was 3% less than that of 2011.

Canada

Official holdings in Canada are 3.4 tons. Although it saw a slight increase in production in 2012 the amount produced does not surpass that produced in earlier years. Barrick Gold produced 7.4 million ounces remaining the countries top company.

Indonesia

The country’s holdings are about 73.1 tons and its reserves are approximated at 3000 tons. Gold production in 2012 suffered a major blow due to unlawful mining and the political turmoil that engulfed the country.

Uzbekistan

This country has over 40 deposits and its reserves are at 1,700 tons. Navoi Mining and Metallurgy Combatant has deposits whose value is $500 billion and are the leading producers. Currently, no gold holdings have been released yet

Ghana

Lastly, Ghana has reserves estimated at 16,00 tons and its holdings are presently at 8.7 tons according to World Gold Council. It registered an improvement of up to 17% in 2012.