Which Country Is The World’s Largest Producer of Gold?
The coveted yellow metal is one of the most coveted commodities in the world. Gold has long been associated with wealth, power and even beauty. As demand for this precious metal continues to rise all around the globe, the answers to the question “Which country is the world’s largest producer of gold?” become increasingly important.
In this article, we’ll look at which countries are currently at the top of the gold production game and which ones have the potential to join or even overtake them in the near future.
World’s Largest Gold Producers:
- China – Producing 426.14 tons in 2019
China is currently the world’s largest gold producer by a comfortable margin, with gold production estimated at over 426.14 tons in 2019 alone. The Chinese gold mining industry is one of the largest in the world, with an estimated value of over $60 billion. China’s open-pit and underground gold extraction operations focus primarily on northern and western China.
- Australia – Producing 310.7 tons in 2019
Australia is the second largest producer of gold in the world, producing an estimated 310.7 tons of gold in 2019. The country is also home to the world’s largest gold nugget, which was discovered in 1869 and weighed in at a staggering 91 kilograms. Australia is also known for its various gold rushes and booming gold mining industries, which have played an important role in the country’s economy.
- Russia – Producing 253.2 tons in 2019
Russia is the third largest producer of gold in the world and is estimated to have produced around 253.2 tons in 2019. The country is generally focused on producing gold from open-pit operations, and the majority of Russia’s gold production comes from the Polymetal, which operates both underground and open-pit mines in multiple regions of the country.
- The United States – Producing 222.2 tons in 2019
The United States remains one of the leading producers of gold in the world, producing an estimated 222.2 tons in 2019. The United States is home to some of the largest gold deposits in the world, with some of its major gold producing states including Nevada, Alaska, California, South Dakota, and Montana.
- Canada – Producing 140.5 tons in 2019
Canada is the fifth largest producer of gold in the world, with production estimated to exceed 140.5 tons in 2019. Canada is also home to some of the world’s top gold reserves, with major deposits being concentrated in the provinces of Ontario and Quebec. The country is estimated to have the highest understated deposit of gold reserves in the world.
- Mexico – Producing 107.7 tons in 2019
Mexico is the sixth largest producer of gold in the world and has an estimated production of 107.7 tons in 2019. Mexico is home to some of the world’s largest gold deposits, with notable gold mines and regions located in the country’s Sonora province as well as Chihuahua and Sinaloa.
- South Africa – Producing 87.7 tons in 2019
South Africa is the seventh largest producer of gold in the world, producing an estimated 87.7 tons in 2019. South Africa has long been considered the cradle of gold mining, with its Witwatersrand Basin home to the largest gold reserves in the world. The country has been a major player in the gold mining industry for centuries and continues to produce gold on a large scale.
- Indonesia – Producing 81.4 tons in 2019
Indonesia is the eighth largest producer of gold in the world, producing an estimated 81.4 tons in 2019. The country is home to some of the world’s largest gold mines, with the majority of them located in the resource-rich islands of Sumatra, Kalimantan and Java. The country has also seen a recent increase in artisanal gold production, which has further boosted the country’s gold output.
- Peru – Producing 73.3 tons in 2019
Peru is the ninth largest producer of gold in the world and has an estimated production of 73.3 tons in 2019. The country is home to some of the world’s largest gold deposits, including the Toromocho mine which is estimated to contain up to 9 million ounces of gold. Peru is also home to the Carhuazochirca in the Andes Mountains, which is the world’s oldest known gold mine and remains in operation to this day.
- Ghana – Producing 71 tons in 2019
Ghana is the tenth largest producer of gold in the world, producing an estimated 71 tons in 2019. The country is home to some of the world’s greatest gold deposits, with gold mining being an important economic sector in the country. Major gold mining regions in Ghana include Ashanti, Western, Union, Eastern and Greater Accra.
Potential Future Gold Producers:
- Tanzania
Tanzania is a country which has substantial gold reserves, with estimates placing the value of the deposits at more than 45 million ounces. Tanzania is also home to several large-scale gold mining projects, such as the North Mara gold mine and the Bulyanhulu gold mine. Tanzania has the potential to be one of the top gold producing countries in the world in the near future, if the government and mining companies are able to capitalise on their gold deposits.
- Madagascar
Madagascar is a relatively unexplored country in terms of gold mining and has the potential to become one of the top gold producing countries in the world. The country is home to an estimated 1.9 million ounces of gold, with a majority of the deposits located in the central and southern region of Madagascar.
- Ethiopia
Ethiopia is another country which has significant potential as a gold producer. The country is home to an estimated 2 million ounces of gold reserves, located primarily in the northern and western region of Ethiopia. Ethiopia could become one of the world’s top gold producers in the near future, particularly if the government is able to attract investment into the gold mining industry.
Although the world’s largest gold producer currently is China, there are a number of other countries who produce gold on a large scale. These include Australia, Russia, the United States, Canada, Mexico, South Africa, Indonesia and Peru. There are also a number of other emerging gold producers with the potential to join the top 10, such as Tanzania, Madagascar and Ethiopia. The future of gold production is looking bright with more countries potentially joining the gold rush in the near future.
