Hawk eyed investors continually eye gold prices when the U.S. dollar is appreciating, with the belief that capital will flood to gold as soon as the dollar weakens. It also mines coal and gemstones, alongside other metals such as copper, tin, aluminum, and manganese. 9 June, 2022. If you are an admin, please authenticate by logging in again. They have been one of the largest buyers of gold in the last seven years which has allowed them to increase their gold stores past China in 2018. The largest gold holding country in Europe as of end 2021 was Germany, with . and Scrap, Open The downtrend is largely due to tighter environmental policies imposed by the government. In, Trading Economics. For more countries, head on over to 5 Countries That Produce the Most Gold. Use Ask Statista Research Service, Gold production ranked by major countries 2022, Global production of gold mines 2010-2022, Rate of return of gold as an investment 2002-2022, To download this statistic in XLS format you need a Statista Account, To download this statistic in PNG format you need a Statista Account, To download this statistic in PDF format you need a Statista Account. Alongside gold, the African nation also produces diamonds. While gold in the ground may be hard to quantify, it's not the only source. 3. Recently, AngloGold Ashanti has revamped their efficiency by focusing on better management, efficiency, stakeholder relations, and long-term optionality. Privacy Policy | Terms & Conditions. Output rose from just 50.8 tonnes in 2008 to peak at over 131 tonnes in 2015, one of the largest increases in that time span. 15 Countries That Produce the Most Solar Energy, 20 Countries That Produce the Most Electric Power. Comprising roughly 90% of the West African country's total mineral exports and 49% of its total export value, Ghana is considered one of the most prolific . Investing News Network websites or approved third-party tools use cookies. It has been in operation as a large-scale mine since the 1930s. The US Geological Survey reports that Russias gold reserves stand at 6,800 MT, the second largest gold reserves after Australia. The Federative Republic of Brazil, or simply Brazil, is one of the most prosperous nations in South and Latin America. Chart. Metals Focus, World Gold Council, USGI. Also join us across all of our other channels - we love to be connected! Now, all employees are also owners which makes them work harder and have a deeper investment in the growth of the company. Here the Investing News Network examines the worlds top gold-producing countries that contributed to this output last year. 7. Transaction Status, Reset In 2019, gold production fell to 118 metric tonnes from 137 metric tonnes in the previous year. Gold output in the U.S. fell below 200 tonnes for the first time in several years, continuing a decline that began in 2019. In recent years, African countries have taken significant steps to strengthen their gold reserves, positioning themselves favourably amidst global economic uncertainty. From Ghana to Burkina Faso we profile the leading gold producers across the African continent. Sukari is a low cost, bulk tonnage open pit and a high-grade underground operation, with significant exploration upside at depth and regionally, within the 160km2 tenement. China produces more gold than any other country in the world. The United Mexican States, or Mexico, is a North American country. 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The country has a large mining industry which has fueled its economic growth in the past but has gotten smaller over time. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. The majority of Canada's gold is from Ontario, specifically Red Lake gold mine. Major players in the industry include Vale S.A. (NYSE:VALE), Kinross Gold Corporation (NYSE:KGC), and AngloGold Ashanti Limited (NYSE:AU). Ghana is the largest mine producer of gold in Africa. In, US Geological Survey. There is also gold on the moon. According to the World Gold Council, China is the world's leading consumer of gold jewelry. Your trusted source for investing success, 10 Largest Producers of Gold by Country (Updated 2023), RecycLiCo Battery Materials and Zenith Chemical Announce a US$25 Million Lithium-ion Battery Recycling Joint Venture in Taiwan, Copper Prices Could See "Astronomical Rise" as Supply Concerns Increase, A Guide to Physical Gold as an Investment | INN , 8 Things to Know Before You Invest in Gold | Investing 101 | US News , Investing in Gold and Silver: A Decision Guide | Morgan Stanley , Chris Temple: 3 Factors for a Gold Price Rise, Uranium's Compelling Outlook, 2023 Gold Outlook Report (Updated for Q2). S&P's weak knees? The country traces its history to some of the oldest civilizations of the world, dating as far as 10,000 BCE. "Official Gold Holdings in Africa in 2021, by Country (in Metric Tons). B2Golds Fekola mine is located in southwestern Mali on the border between Mali and Senegal, about 210 km south of Kayes and approximately 40 km south of the city of Kniba. Gold is mined from major mines throughout the country, with the top five gold producing mines being located in five different states. Higher production at several mines and the ramp up of projects such as Mount Morgans and Cadia Valley contributed to increased production. While traditional companies and artisanal miners contributing to Ghanas gold production, some of the largest include Kinross Gold (Chirano mine), Newmont Goldcorp (Akyem and Ahafo mines), AngloGold Ashanti (Obuasi and Iduapriem mines), Gold Fields (works the Tarkwa gold mine) and Asanko Gold (Asanko mine). This means that in addition to mining the gold, they also work to process and refine the gold into gold bars that can be bought by investors. Africa is a major producer of many key mineral commodities, with bountiful reserves of metals and minerals such as gold, diamond, cobalt, bauxite, iron ore, coal, and copper across the. "Production decreases in Papua New Guinea and the United States were more than offset by production increases in Colombia, Indonesia, and Burkina Faso," the survey noted. Statista. Gold is mined by several different methods, including: placer mining, hard rock mining, byproduct mining and by processing gold ore. Ghana is the continent's largest producer of gold, followed by South Africa and Mali. Gold has a wide variety of uses. If you continue using our website, we'll assume that you are happy to receive all cookies on this website. Ghana - 142.4 tonnes. Is Now a Good Time to Invest in Gold Stocks. South Africa had overtaken the West African country in 2021 as the largest producer on the continent. 2. While gold has been found on almost every continent, most of this gold was found in one of three countries; China, Australia, and South Africa. [Online]. The United States ranked fourth in gold production in 2016. However, you can find trace amounts of gold almost anywhere you look, even in seawater and within the human body. Find out how to avoid scams and learn the best practices when investing. According to the survey, close to a quarter of the gold in undiscovered resources can be found in porphyry copper deposits. The Mexican economy is worth $2.9 trillion with a GDP per capita of $22,440 and the country is also one of the world's largest corn producers. The minerals mined in Ghana account for 37% of the countrys total exports, with gold comprising 90% of total mineral exports. In 2022, the country produced 100 MT, on par with the previous year. Australia holds the world's largest gold reserves at 8,400 MT, followed by Russia at 6,800 MT. It is also one of the most stable metals in the periodic table, particularly when compared to others such as lithium which combusts upon the slightest contact with water. Demand and supply. Most of the country's gold resources can be found in the Witwatersrand Basin, which is one of the largest gold deposits in the world. "World Mine Reserves of Gold as of 2022, by Country (in Metric Tons). Global mine production decreasing since 2018, U.S. "Official gold holdings in Africa in 2021, by country (in metric tons)." Recommendation: Gold vs. Stock Market: Investment Comparison. Gold is used in food, electronics, the engine compartment of the McLaren F1, and medicine, alongside jewelry as we mentioned above. Then you can access your favorite statistics via the star in the header. Going for gold. The precious metals price gains have come along with the uncertainty borne from the global economic impact of the COVID-19 outbreak, as well as increasing geopolitical turmoil surrounding Russia's war in Ukraine. The north-east African country of Sudan comes third in this list with gold production of more than 76 metric tonnes in 2019. Which Country Produces the Highest Quality Gold? Sudan is home to a host of different minerals and metals, such as cement, chromium, gypsum, potassium, and iron ore. It straddles the boundary of the Oudalan and Seno provinces in the Sahel region of Burkina Faso and is approximately 330 km northeast of the capital, Ouagadougou. 2023 BBC. For the past eleven years in a row, central banks have been net purchasers of gold. However, production fell from nearly 400 tonnes last year, representing the third consecutive year of declines. Gold prices are also among the most closely watched during economic turmoil, such as the one which has gripped the world throughout 2022. Even when peak gold happens, experts say the years immediately after it are not likely to see a dramatic decrease in production. Save thousands of dollars in hidden fees and avoid any potential issues when investing in precious metals with this guide. Mexico is a notable gold producer, tying with Kazakhstan for the sixth spot. The country has a vibrant mining industry, and it was the second largest iron ore exporter in 2021. 6. The North African country was followed by South Africa, with official gold reserves reaching 125 metric tons. The gold held in each country ranges from gold bullion to gold bars. US gold production has been dropping over the past 5 years. Italy also has 67.4% of their foreign reserves in gold. Amazingly, gold recycling accounts for one third of the total production. United States. "Whilst it exists, it would never be economically meaningful to mine it," says space expert Sinead O'Sullivan. 526 koz. As a Premium user you get access to background information and details about the release of this statistic. Learn more about how Statista can support your business. Gold keeps its value, so it is good for protecting the value of their money. 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As of 2021, the country had produced 102.8 tons of gold. Algeria is the African country with the largest gold holding, at 174 metric tons. Peru saw a slight uptick in gold production from last year, with output nudging up 3 MT from the previous year to 100 MT in 2022. "Global gold production dragged down by Grasberg", "South African production: important but no longer globally significant", "Visualizing Global Gold Production by Country in 2020", "After Decades in the Dark, Sudan May Soon Be Open for Business", https://en.wikipedia.org/w/index.php?title=List_of_countries_by_gold_production&oldid=1146071175, Short description is different from Wikidata, Creative Commons Attribution-ShareAlike License 4.0, This page was last edited on 22 March 2023, at 16:18. Africas gold mining industry traditionally dominated by South Africa has seen a shift in focus with countries such as Ghana, Suda, Mali, and Burkina Faso entering the fray. Uzbekistan has been producing from old mines for quite some time, and has not seen much exploration investment. Its gold production was 113.6 tons in 2021. It has a GDP of $3.6 trillion, which is the ninth largest in the world, and the country is also a founding member of the G20. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. (Kitco News) - Kitco ranked the top 10 biggest gold mines in Africa based on reported production in 2020. Gold is also scattered along the ocean floor, but is also considered uneconomic to mine. 407 koz. Obviously the pandemic contributed to this slowdown last year, but we may also be seeing the consequences ofsteadily shrinking exploration budgets. The top 28 operations in the country were responsible for 98 percent of American gold output. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Please refer to thecookie policy for collected data, privacy and GDPR compliance. Gold Fields Tarkwa mine is located near the southern end of what is commonly referred to as The Tarkwa Basin, 300 km by road west of Accra, the capital of Ghana. The Loulo-Gounkoto complex comprises two distinct mining permits, Loulo and Gounkoto, and is situated in western Mali, bordering Senegal and adjacent to the Falm River. Global Investors does not endorse all information supplied by this/these website(s) and is not responsible for its/their content. Although gold prices hit a record high in August, this doesn't automatically translate into a rise in gold mining activity. China is currently the world's biggest miner of gold, while Canada, Russia, and Peru are also major producers. Which country in Africa has the most gold? You can unsubscribe any time. Africa produces 20% and the former Soviet Union C.I.S region 14%. Concrete spraying: How expertise and VR training enhance efficiency and sustainability, Major Deposits of Magnetic Rare Earth Elements Discovered at Ramaco Resources Mine in Wyoming, Hastings awards EPC contract for Yangibana rare earths project to GRES, High-grade Rare Earth Discovery at Alford East Project, South Australia, TotalEnergies signs PPA for 1GW Mirny onshore wind project in Kazakhstan, US DOE allocates $26m to support storing and disposing of spent nuclear fuel, Hummingbird announces first gold pour at Kouroussa gold mine in Guinea, KORE Power to secure $850m federal loan for KOREPlex battery facility, Aker BP makes new oil discovery in Yggdrasil area offshore Norway, Advertise with us Advertising enquiries: Roy Morris, roy.morris@progressivemediainternational.com, +44 (0) 20 7406 6613. A huge majority of Europes gold comes from Russia, which has been increasing its production every year since 2010. The operation of gold mining in South Africa began in the 1880s, and ever since then, the country has been the second-largest producer (sometimes the largest) of gold in Africa. Nigeria: With a respectable gold reserve of 21.37 metric tons, Nigeria demonstrates its growing interest in the precious metal. In 2018, Ghana's gold production amounted to 148 metric tons . The mine is owned by Kibali Goldmines SA (Kibali) which is a joint venture company effectively owned 45% by each of Barrick and AngloGold Ashanti, and 10% by Socit Minire de Kilo-Moto (SOKIMO). 480 koz. Who is the largest buyer of Russian gold? Tarkwa, Ghana. The Republic of Peru is a South American company touching the Pacific Ocean. . Does the Government Know When You Buy Gold? statistic alerts) please log in with your personal account. See the alarming losses that led to the removal of fuel subsidies by Bola Tinubu Nigerias new president, China's CRJE to build $25.79 Million African court headquarters in Tanzania, East Africa makes progress in removing trade barriers but faces new challenges. Germany also has 71.9% of their foreign reserves in gold. After the U.S. dollar, gold is thought to be the most safe investment, with the only drawback being that it offers a potential investor return only in the form of price appreciation. Gold Fields Ghana operated the underground mine which exploited the Main and West auriferous conglomerates (reefs) of the Banket Series of the Tarkwaian System. We value your opinion - The World Gold Council would like to contact professional investors like yourself to participate in focus groups, surveys and share your feedback on the World Gold Council website experience. This company also works to explore, develop, and produce gold. [Online]. Largest reported gold holdings in Europe 2021, by country. Australia has now posted eight consecutive years of production increases. All data is from the WGC as of June 2021. Focus on the User provides precious metal retirement resources for investors and retirees. Africas third-largest country by area, Sudans gold mines include Hassai gold mine (owned by Sudans Ariab Mining Company and Canadas La Mancha Resources) and Block 14 open pit mine project (operated by Canadas Orca Gold). VideoHow an advanced civilisation vanished 2,500 years ago. This is a very low percentage in comparison to the other top countries' foreign reserves. The AMCU has held many protests and strikes at several gold and platinum mines within the last few years in the hopes of garnering more wages and stopping any mergers that could cause job losses. Russia has a total of 2,219.2 tons of gold in their reserves currently. 623 koz. In 2022, the US produced 170 MT, down by 17 MT from the previous year. South Africa closely follows, with official gold reserves reaching an impressive 125 metric tons. Germany brought their gold holdings up to this level again in 2017 by completing a four year repatriation operation in which they moved 674 tons of gold back from French and American banks. Ghana: 117.6 tons. What will it take for Ukraine's offensive to succeed? One of the Dark Continents top gold mining countries, Ghana grabbed the top spot from South Africa after mining more than 142 metric tonnes of the precious metal in 2019. China, Australia and Russia are the largest producers of gold in the world, but which countries round out the list? 31010602004116. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2023, Quarterly smartphone market share worldwide by vendor 2009-2023, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. Geita, Tanzania. It was once home to the Inca Empire, one of the largest empires in America before Christopher Columbus landed on its shores. The Sudanese government, however, claims annual gold production in the range of 120-200 tonnes. The largest single source of gold in history has been the Witwatersrand Basin of South Africa. Its mining production was worth $16.68 billion in . Most of the United States' gold is in Fort Knox in Kentucky holding more than 147 million ounces of gold. Please create an employee account to be able to mark statistics as favorites. Mexico produced 124.5 tons of gold in 2021. According to data released this month by the World Gold Council (WGC), global gold mine production in 2020 was 3,478.1 tonnes (122.7 million ounces), down slightly for the second year in a row after rising consecutively for the past few years. Its gold mines include Morila (managed by Government of Mali, AngloGold Ashanti and Barrick Gold), Sadiola (managed by Government of Mali, AngloGold Ashanti and LamGold), Loulo-Gounkoto (managed by Barrick Gold) and Yatela (managed by Government of Mali, AngloGold Ashanti and LamGold). Algeria is the African country with the largest gold holding, at 174 metric tons. Top 10 biggest gold mines in Africa in 2020. Its mining production was worth $16.68 billion in 2021, with precious metals accounting for more than half of the pie. The country has held its top position for more than a decade. Arguably, the toughest substance known to man, diamond crystals are typically found in countries such as Canada and Russia in the northern band, Botswana, Namibia, South Africa and Australia in the southern, with Sierra Leone, the Ivory Coast, Venezuela and Brazil in the central zone. 15 Countries That Produce the Most Gold is originally published on Insider Monkey. The Republic of Uzbekistan is a central Asian country that gained independence from the Soviet Union in 1991. Its economy is worth $924 billion with a per capita GDP of $15,361. Botswana is the largest diamond producer in Africa, with natural gemstones and industrial diamond production amounting to a total of 22.9 million carats in 2021. By clicking the link(s) above, you will be directed to a third-party website(s). It is not to be used as a recommendation to buy, sell, or trade an asset that requires a licensed broker. Ahafo, Ghana. Published by Statista Research Department , Oct 12, 2022. Finance 10 African countries in Top 100 countries with biggest gold reserves Monday, 14 March 2016 18:16 (Ecofin Agency) - According to a report published by World Gold Council on March 11, ten African countries are listed in the Top 100 of countries with largest gold reserves. Gold is in hot demand as an investment, a status symbol, and a key component in many electronic products. Categories Diamond Post navigation. According to Statista, the country's output is projected to reach nearly 400 MT by 2030. Newmonts Ahafo mine is located along the Sefwi Volcanic Belt, a northeast-southwest trending volcanic belt in Ghana. The map illustrates that in recent decades diamond production has spread to many parts of the world. Australia and Russia. Show sources information Ahafo has two primary ore zones: Ahafo South and Ahafo North. Sudan produced 85 tons of gold in 2021. A large amount of gold is used in electronic products that are widely viewed as disposable, such as mobile phones. "Given the scale of operations involved, it takes time to alter mine plans in response to changes in external factors, such as the price of gold," adds Ms Brandstaetter. Kibali is the biggest gold mine in Africa, located in the northeast of the Democratic Republic of Congo (DRC), approximately 220 kilometres east of the capital of the Haut Uele province, Isiro, 150 kilometres west of the Ugandan border town of Arua and 1,800 kilometres from the Kenyan port of Mombasa. South Africa mines chrome, manganese, platinum, zirconium, rutile, and coal. This was perfect timing for Germany because the demand for gold fell in 2017, but has been steadily increasing since the global financial crisis. Gold mine production totalled 3,531 tonnes in 2019, 1% lower than in 2018, according to the World Gold Council. In addition, in 2017 Russia purchased 224 tons as a way to move their economy away from the American Dollar. Libya: With a commendable gold holding of 117 metric tons, Libya secures the third spot on the list. The average AISC for the entire gold mining industry is calculated by averaging the production costs of the largest pure-gold producers. Currently, you are using a shared account. You need at least a Starter Account to use this feature. This was, however, a big drop from the 93 tonnes produced the previous year and the 107 tonnes in 2017. This is a list of countries by gold production in 2018.
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