Starting with the lowest to the biggest, we are listing the top 10 Countries for Gold Production or Producing Gold.
10. Brazil 106.9 Tonnes
Brazil has continued to increase its declared Gold Production output over the last number of years and is currently at No.10 on our list. Part of the reason for the increase is due the government intervening to capture as much Gold as possible as illegal Gold mining in the Amazon and the Rain Forest continue to increase. The Brazilian Government is also using Gold production as a means to grow the countries economy.
9. Mexico 111.4 Tonnes
Mexico has managed to more than double its Gold output over the last 10 years and remains a force to watch. It seen as a favorable place for mining companies to enter due to low labor costs and low regulations to mine. Over recent years however production as slowed a bit as workers and communities fight for better conditions in the locality from the contractors.
8. South Africa 118.2 Tonnes
South Africa remains one of the worlds largest Gold producing countries in the world. This country has always produced vast amounts of Gold and is the home to one of the worlds deepest Gold mines Mponeng mine. Over recent years it also has come up against large illegal mines on very large scales and labor costs have soared which has even led to some mines closing due to not been profitable. Other costs such as electricity and bigger demands from local communities are hampering growth. A lot of Gold is also smuggled out of the country to Europe and Asian markets.
7. Ghana 142.4 Tonnes
Ghana is Africa’s largest Gold producing country. It is also know to hold other precious materials sought after for worldwide markets. Taken over from South Africa several years ago, it has many places not tapped into yet. Several large scale operations that were once very evident in South Africa have moved operations to here as it can offer more competitive working conditions such as labor. it is estimated that there is 1000 metric tonnes of Gold in reserve in Ghana.
6. Peru 143.3 Tonnes
Peru like a lot of other countries is faced with large illegal mining activity despite trying to stop it. As a result recorded Gold production continues to fall. However Gold mining accounts for a large part of Peru’s economy contributing over 25% to the economy.
5. Canada 182.9 Tonnes
We all know about Canada and its importance in Gold Mining with endless TV shows on the Discovery Channel from the famous Yukon. Canada has held a high position for many years and we believe it will continue to do so. Many new projects are expected to start over the next few years with conservative estimates that Gold Production will grow by 3% annually to produce 7.6 million ounces.
4. United States of America 200.2 Tonnes
Gold production has fallen in recent times but the US still is major force in Gold production. The majority of Gold produced in the US comes from the state of Nevada 12 US states contribute the majority of Gold produced here. The value of Gold produced in the US is approx $8.9 Billion US Dollars.
3. Australia 325.1 Tonnes
Having held its spot for many years Australia and mining go hand in hand. The worlds biggest Gold Nugget was found in Australia which led to Gold Rush back in the 1800’s. Mining accounts for 9% of the countries GDP and is one of the biggest exported products for the country.
2. Russia 329.5 Tonnes
Russia recently overtook Australia as the second biggest producer of Gold in the world. It is increasing Gold production annually. It exports a portion of its Gold to Europe but its largest customer is the Russian Government as it has used Gold to increase the value of its currency to move away from dependency on the US Dollar.
1. China 383.2 Tonnes
Its no surprise that the country that consumes the most amount of Gold is also the worlds largest producer of Gold. 11% of the worlds global production comes from China. Out put has remained steady due to mainly environmental policies introduced by the government. China will continue to grow however and I suspect it will remain at the No.1 spot for several more years. Its economy continues to grow and as its nation wealth continues to grow so to will its appetite for Gold.