We list the 10 top countries for producing gold or production of gold, starting with the most remote.
10. Brazil 106.9 Tonnes
Brazil’s declared gold production has increased over the years, and currently ranks at No.10 on our ranking. The government intervening in order to capture as much Gold possible is a key reason for this increase. Illegal Gold mining in the Amazon Rain Forest and other areas continue to rise. Brazil’s government is also using Gold production to help grow its economy.
9. Mexico 111.4 Tonnes
Mexico has more than doubled its Gold production in the past 10 years. This country is worth watching. Because of its low labor costs, and the low regulations for mining, it is a good place to invest in mining companies. However, production has slowed down in recent years as local communities and workers fight for better conditions.
8. South Africa 118.2 Tonnes
South Africa is still the largest gold producer country in the world. The country is home to Mponeng, one of the deepest Gold mines in the world. It has produced large amounts of Gold for centuries. It has also come up against illegal mines on large scales in recent years. Labor costs have soared, which has led to some mines being closed because they are no longer profitable. Growth is also hindered by higher electricity costs and increased demands from the local communities. Many ounces of Gold are also being smuggled out to Europe and Asian markets.
7. Ghana 142.4 Tonnes
Ghana is Africa’s biggest gold producer. It also holds precious metals that are sought-after for global markets. It was brought over from South Africa many years ago and has many areas that have yet to be explored. Many large-scale operations that once were very prominent in South Africa have relocated to Ghana because it offers better working conditions and labor. It is estimated that Ghana has 1000 tonnes of Gold reserves.
6. Peru 143.3 Tonnes
Peru, like many other countries, is facing large-scale illegal mining activities despite their efforts to stop it. Recorded Gold production is continuing to decline. However, Gold mining contributes over 25% to Peru’s economy.
5. Canada 182.9 Tonnes
Canada’s importance in Gold Mining is well-known. There are many Discovery Channel shows about Canada, starting with the Yukon. Canada has been in a strong position for many years, and we are confident that it will keep this position. In the coming years, many new projects will be started. Conservative estimates suggest that Gold Production will increase by 3% annually to produce 7.6 Million ounces.
4. United States of America 200.2 Tonnes
Although gold production has declined in recent years, the US is still a major player in Gold production. Nevada is home to the majority of the Gold that is produced in the US. The other 12 US states make up the bulk of the Gold here. The US Gold production is worth approximately $8.9 billion US Dollars.
3. Australia 325.1 Tonnes
Australia and mining have been a close companion for many years. Australia was home to the world’s largest gold nugget, which led to the Gold Rush in 1800. Mining is a major export product for the country, accounting for 9% of its GDP.
2. Russia 329.5 Tonnes
Russia has recently overtaken Australia as the world’s second largest producer of Gold. It is increasing its Gold production each year. It exports some of its Gold to Europe, but its biggest customer is Russia’s Government. The Russian Government has used Gold to increase its currency’s value to get rid of US Dollar dependence.
1. China 383.2 Tonnes
It’s not surprising that China is the largest gold producer in the world. China accounts for 11% of global production. The government’s environmental policies have largely kept the output steady. China’s growth will continue, and I expect it to remain at No.1 for many more years. China’s economy is growing and so will its desire for gold.
Top 10 Countries for Gold Bullion Production in Ireland.