HomeINSIGHTSThese Are The Gold Producing Countries In The World 2024

These Are The Gold Producing Countries In The World 2024

Gold is one of the world’s scarce elements, comprising approximately 0.003 parts per million of the earth’s crust.

Gold mining is a global industry with operations on every continent with the exception of Antarctica, and gold is extracted from mines of diverse types and sizes. Our interactive gold mining map provides an analysis of the world’s leading gold producing nations, illustrating the geographical distribution of gold mining operations and gold supply.

Top 10 Gold Producing Countries In The World 2024

10. Brazil – 106.9 tonnes

Brazil produced 10 more tonnes of gold than the previous year, propelling it to the tenth position on this list. In the last five years, illegal mining has increased dramatically in the Amazon rainforest. President Jair Bolsonaro has pressed for the economic development and mineral extraction of the Amazon.

9. Mexico – 111.4 tonnes

Although production decreased for the fourth consecutive year, Mexico remains a competitive gold source. The output increased from 50,8 tonnes in 2008 to over 130 tonnes in 2017, representing one of the most significant increases over the past nine years. Due to the relatively low cost of regulation, Mexico is an attractive location for mining. The delay in 2019 is a result of disputes between local communities and contractors.

8. South Africa – 118.2 tonnes

With the exception of 2013, when production increased by a few tonnes, South Africa’s gold mines have slowed every year since 2008, with the exception of 2013 when production increased. Numerous mines are closing due to unprofitability, as the nation struggles with rising electricity and labor prices. However, South Africa is still home to the world’s deepest gold mine, the Mponeng mine, which extends 2.5 miles below the surface.

7. Ghana – 142.4 tonnes

Ghana is Africa’s leading gold producer, surpassing South Africa in 2019; it is also renowned for its deposits of various industrial minerals. AngloGold Ashanti and Gold Fields have shifted their focus from South Africa to Ghana, where deposits are less expensive and simpler to mine. The West African nation has approximately 1,000 metric tons of reserves.

6. Peru – 143.3 tonnes

Peru’s gold production declined for the fourth year in a row, primarily due to crackdowns on illegal mining in the La Pampa region and lower grades at existing ventures. The mining industry is a major contributor to Peru’s economy, accounting for more than 28 percent of the region’s total output.

5. Canada – 182.9 tonnes

Canada has been ranked fifth for the past three years, despite a minor decline in output in 2019. It is anticipated that new initiatives in Nunavat, Yukon, and Quebec will boost output in 2020. The gold mine production in Canada is projected to increase by 2.7% per year between 2019 and 2023, reaching 7.6 million ounces.

4. United States – 200.2 tonnes

In 2019, gold production in the United States decreased by 11 percent, halting five consecutive years of growth. Twelve states produced the gold, which was valued at approximately $8.9 billion and accounted for 6.1% of the global total. Approximately 78 percent of the gold mined in the United States is located in Nevada. If the state were a country, it would be sixth on this list, with 173.6 tonnes extracted in 2019.

3. Australia – 325.1 tonnes

Australia’s production has increased for seven consecutive years, rising by 4 percent in 2019. Over fifty percent of Australia’s total exports are generated by the minerals industry, which also contributes approximately eight percent to the country’s gross domestic product. Enhanced output at a number of mines and the acceleration of initiatives such as Mount Morgans and Cadia Valley contributed to the increase in output.

2. Russia – 329.5 tonnes

Massive 83 percent of European gold originates from Russia, whose production has increased annually since 2010. Russia surpassed Australia to become the world’s second largest producer in 2019, mining 50 tonnes more than the previous year. Who is the greatest purchaser of gold from Russia? The Russian government, which purchases approximately two-thirds of all locally produced gold.

1. China – 383.2 tonnes

China has been the leading producer for many years, accounting for 11 percent of global mine production. However, production decreased by nearly 400 tonnes from the previous year, marking the third year in a row of declines. The decline is primarily attributable to the government’s stricter environmental policies. For instance, stricter regulations regarding the use of cyanide in gold mines caused several operations to reduce output.

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