Global gold production continues to be dominated by the world’s top 10 largest gold producing companies in 2018. Well-acknowledged as one of the most expensive metals in the world for thousands of years, gold nowadays remains one of the most popular jewelry materials and investment commodities in the global market, posing a significant amount of business opportunities in all sectors of the supply chain, including gold mining, gold processing, and jewelry industries.
According to recent figures obtained by BizVibe, global gold production surged from just 1,518 tonnes in 1917 to 3,169 tons in 2016 (and peaked in 2015 at 3,217 tons), representing a growth rate of 1.5% per annum by far. Meanwhile, global gold demand was estimated at US$127 billion in 2016. China has been the largest gold producing country in the world since 2006. Today, China accounts for over 15% of the global gold production. Australia is the world’s second-largest producer of gold with 270 metric tons of gold produced in 2016. Russia is in third wit a total gold output of 250 metric tons in the same year.
However, when it comes to largest gold producing companies, Canadian, South African and Australian gold companies are topping the chart with some of the highest gold productions and annual revenues in 2016. Following are among the world’s largest gold miners or gold producing companies ranked by their gold productions and annual revenues in 2016. (Source: gold productions from Thomson Reuters GFMS and revenues from FT)
Top 10 Largest Gold Producing Companies in the World
10. Agnico Eagle Mines Ltd – Gold Production: 51.7 tonnes; Revenue: $2.21 billion
Agnico Eagle Mines is a Canadian-based gold producing company with its major operations in Canada, Finland and Mexico. The company also has mine exploration and development activities extending to the United States. Agnico Eagle Mines made it to list of top 10 gold producing companies with 51.7 tonnes of gold output in 2016.
9. Polyus – Gold production: 61.2 tonnes; Revenue: $2.70 billion
Polyus is Russia’s largest gold producing company and also one of the world’s top gold mining companies by output. Headquartered in Moscow, the company is listed on both the Moscow and London Stock Exchanges. Its main gold mining operations are located in Eastern Siberia and the Far East, including five operating mines, alluvial operations and several advanced development projects.
8. Gold Fields Ltd – Gold production: 63.0 tonnes; Revenue: $2.75 billion
Gold Fields Limited is a South African gold mining company, listed on both the Johannesburg Stock Exchange and the New York Stock Exchange. Gold Fields’s major operations include eight mines in Australia, Ghana, Peru, and South Africa, and exploration for gold and other precious metals in North and South America, Africa, Eurasia, and Australia.
7. Navoi NMMC – Gold production: 75.5 tonnes
Navoi NMMC is one of the largest Uzbek companies operating in the global mining industry, it’s also among the top ten largest gold producing companies in the world. With constant government support, Navoi NMMC increased its production to 75.5 tonnes of gold in 2016 compared to 75 tonnes produced the year before.
6. Newcrest Mining Ltd – Gold production: 76.7 tonnes; Revenue: $3.52 billion
Newcrest Mining is a Sydney-based mining company, also one of the largest gold producing companies in the world with its operations mainly in the exploration, development, mining and sale of gold and gold-copper concentrate. It has portfolio of gold mines in Australia, Cote d’Ivoire, Papua New Guinea, and Indonesia.
5. Kinross Gold Corp – Gold production: 84.2 tonnes; Revenue: $3.48 billion
Kinross Gold Corporation is a Canadian-based gold and silver mining company founded in 1993, with major operations in Brazil, Chile, Ghana, Mauritania, Russia and the US. In 2016, the company produced 84.2 tonnes of gold, up from the 78.4 tonnes it produced in 2015, making it the 5th largest gold producing company in the world.
4. Goldcorp Inc – Gold production: 89.4 tonnes; Revenue: $3.52 billion
Goldcorp is a Vancouver-based gold producer, whose production totalled 89.4 tonnes in 2016, decreased from 107.8 tonnes in 2015. Ranking as the world’s fourth largest gold producer, the company is also one of the world’s fastest-growing gold producers, and operates four mines in Canada, three in Mexico and four in Central and South America.
3. AngloGold Ashanti Ltd – Gold production: 112.8 tonnes; Revenue: $4.09 billion
Headquartered in Johannesburg, South Africa, AngloGold Ashanti is the world’s third largest gold producing company by production. The company produces gold through its mines in mainly in South Africa and continental Africa, although it also operates mines in Australia, Argentina, Brazil, and the United States.
2. Newmont Mining Corp – Gold production: 163.3 tonnes; Revenue: $7.11 billion
Newmont Mining, founded in 1916 in Colorado, USA, has long been one of the world’s largest gold producers with assets or operations on five continents, but mainly in United States, Australia, Peru, Suriname, and Ghana. Newmont also mines silver, copper, lead, zinc, and other metals. At the end of 2016, the company owns gold reserves of over 1,942 tonnes.
1.Barrick Gold Corp – Gold Production: 171.6 tonnes; Revenue: $8.77 billion
Barrick Gold Corporation is the largest gold producing company in the world, with its headquarters in Toronto, Canada. In 2016, Barrick Gold continued to top the list with over 171.6 tonnes of gold produced, despite having a slight decline in the gold output from the previous year. The company’s production of gold plunged dramatically between 2013 and 2014, when it declined from 222.9 tonnes to 194.4 tonnes, but it’s still expected to lead the global gold production through 2018.
As businesses continue to look for gold companies to invest in for 2018, which companies do you think will join this list in 2019? Feel free to let us know at BizVibe in the comments sections.
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