Largest gold mining companies existing in the world
Across the globe exists powerful gold mining companies ranging from the US and Russia, Africa and Asia to South America.
The storied metal possess high electrical and heat conductivity. It is good for manufacturing electronics, crafting and for jewelry production. The properties it possess makes it worth its value in the production company.
The rising commodity prices benefit most mining companies in this present year but mass Worldwide production did not turn out well in 2020.
US Geological Survey, has it that estimated 3,200 tonnes mined worldwide in 2020 While 53,000 tonnes of global gold reserves existed. The COVID-19 pandemic contributed to its 6% output decline in 2020.
As a result of investors embracing the metal owning to the fall in traditional financial markets, it made the world’s top gold mining companies gain through rising commodity prices, the tough time couldn’t be a barrier for them.
Top gold mining companies
1. Newmont – 5.8 million ounces
This gold mining company produces 5.8 million ounces of the metal. They base in Colorado. They are the biggest gold mining company in the world.
They witnessed 9% fall in production but that couldn’t pull them down. They still maintained their position as the world highest and largest mining company.
They made $10bn in 2019 against Goldcorp, this earned them the highest amongst all.
Newmont is headed by Tom Palmer, they mine copper, gold,silver, zinc and lead. It’s mining reserve amounts 94.2 million attributable ounces of gold. They exist in places like South America, Africa and North America.
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2. Barrick Gold – 4.8 million ounces
This mining company is headed by chief executive officer Mark, he served as head in Randgold.
They spread across six Tier One gold mines which include Carlin and Turquoise Ridge in Nevada, Kibali in the Democratic Republic of Congo (DRC), Pueblo Viejo in the Dominican Republic, and Cortez.
It’s headquarter is in Toronto and produces gold under 4.8 million ounces, they also produce copper.
It’s miner incharge of producing copper function in 13 countries across North and South America, Africa, Papua New Guinea and Saudi Arabia. Their gold mining headquarter in Toronto loss 13% output in 2020.
They joined with Newmont in 2019 to produce the world’s largest gold mining complex. They also won a $6.5bn deal that same year against Randgold.
3. AngloGold Ashanti – 3 million ounces
It’s Chief executive is Christine Ramon. AngloGold Ashanti gold mining company is based in South Africa, the biggest mining company in Africa and 3rd in the world.
It came to existence in 2004, they were formed as an entity following the merger of AngloGold and Ashanti Goldfields.
They experienced 7% fall in production in 2020, producing over three million ounces of gold.
It extends to countries like the DRC, Ghana, Mali and Tanzania.
4. Polyus – 2.8 million ounces
24 million ounces of the company are held by the Olimpiada project and they have 61 million ounces gold reserves.
Polyus is largest gold miner located in Russia, with a 3% fall in production, it produced 2.8 million ounces in 2020.
Since 2013, it’s executive officer has remained Pavel Grachev. The largest branch is Olimpiada in the Krasnoyarsk region, it is also located in Siberia, Russia, Blagodatnoye and Natalka.
Sukhoi Log according to Polyus contains
40 million ounces gold reserve. The Sukhoi Log is located in Irkutsk region of Eastern Siberia. There are plans of more establishments of gold mining companies in Russia.
5. Kinross Gold – 2.4 million ounces
It’s chief executive officer is Paul Rollinson (since 2012). The headquarter is located in Toronto. They witnessed 6% fall in production in 2020, having 2.4 million ounces of gold and 30 million ounces gold reserves globally.
The company was founded in 1993 and are branched in countries like Russia, Brazil, Ghana, Chile, US and Mauritania.
Just as is the Kupol, Dvoinoye project in Russia, the Tasiast mine in Mauritania is a major venture for Kinross,
Most productions done in this company takes place in American regions. The Paracatu mine in Minas Gerais, Brazil produced 542,435 ounces of gold. In Alaska United States, the Round Mountain mine and Fort Knox mine are the main source of production.