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A large part of this global production figure is accounted for by the five main producing countries, whose activity has been analyzed by NS Energy. These are the countries that extracted the most precious metal in 2020:
Australia’s gold production was 320 tonnes in 2020, down from 325 tonnes mined in 2019. Despite this reduction, the country still ranks second among the world’s largest producers of this precious metal.
The country has underground gold reserves estimated at around 3,000 tons. Among the largest mines in the country are Carlin, Goldstrike, Cortez (all in the state of Nevada, the largest producer), Cripple Creek and Victor (in Colorado).
Top mineral-producing countries in the world 2020
China ranks first among the world’s gold producers by a wide margin. The top 10 rankings saw a big change in 2019: Russia took the lead over Australia to take second place, Indonesia fell off the list and Brazil joined the ranks as the 10th largest producer. Ghana also jumped ahead of South Africa to become the continent’s top producer.
Here are more details on the top 10 countries with the largest gold production in 2019, starting with the top producer and leading bullion consumer, China. All data is from the World Gold Council.
What are the top three gold producing countries?
Gold mining production Australia 2011: 270 tonnesGold mining production Australia 2010: 261 tonnesAustralia’s gold reserves are found throughout the continent but are mainly concentrated in Western Australia, South Australia and New South Wales.
The largest gold deposits in Australia are Super Pit in Kalgoorlie from which 24 tonnes (850,000 ounces) of gold are mined annually, Telfer in the Pilbara region, Boddington and Sunrise Dam in Yilgarn Craton, Cadia-Ridgeway in New South Wales, and Tanami in the Northern Territories.
Gold mining production USA 2011: 237 tonsGold mining production USA 2010: 231 tonsGold deposits in the United States are mainly concentrated in the states of Nevada, Alaska, Utah, and Colorado. The state of Nevada accounts for 75 percent of annual U.S. gold production. Nevada is also home to such important gold mines as the Carlin, Goldstrike and Cortez deposits.
Gold mining production Russia 2011: 200 tonnesGold mining production Russia 2010: 192 tonnesRussia’s gold deposits are mainly concentrated in Siberia and the eastern part. The largest gold mines are Kupol in Chukotka, Olympiada in Krasnoyarsk, Voro in Sverdlovsk, and Khakanja in Khabarovsk.
World’s largest silver producer
Gold mining consultancy Surbiton Associates outlined this increase in its most recent report, which also showed record production of 328 tonnes of gold in the 2019-2020 financial year.
METALSThe profile of Australia’s top five gold mining companiesDirector of Surbiton Associates, Dr Sandra Close, said that due to global uncertainty and unrest, interest in the precious metal has never been higher.
“The Australian gold sector, like the larger iron ore mining industry, is producing record export quantities and doing all it can to boost our balance of payments,” Close said.
“With strong production and employment in the mining industry, the resulting diverse taxes are a real boost for Australia in these tough economic times and Western Australia is also receiving record royalty payments.”
Spot gold prices hit a record high on August 6, reaching $2067 per ounce and Australian gold prices also hit an all-time high of $2868 per ounce on the same day.