From Africa and Asia to South America, the United States, and Russia, the largest gold mining companies operate in various regions of the world.
This metal remains a very popular resource due to its high value, its useful properties, and its variety of applications. Although it is still commonly used in jewelry and crafts, it is also an important ingredient in the manufacture of electronics, prized for its high electrical and thermal conductivity.
According to the US Geological Survey, there are some 53,000 tons of world gold reserves, and it is estimated that in 2020 a total of 3,200 tons were extracted worldwide, representing an annual decrease of approximately 5% in production due to the disruption of the Covid-19 pandemic.
However, despite this operational disruption, the world’s major gold miners benefited from rising commodity prices during the year as investors flocked to the metal amid falling prices. traditional financial markets.
- Newmont – 5.8 million ounces
Colorado-based Newmont is the world’s largest gold miner, producing just over 5.8 million ounces of the metal in 2020.
It retained its top spot among the world’s largest gold miners despite a nearly 9% year-on-year decline in output.
It has operations in Africa, Australia, North, and South America, and has mining reserves totaling 94.2 million attributable ounces of gold. It also mines copper, silver, zinc, and lead.
Newmont’s $10 billion acquisition of rival Goldcorp in 2019 propelled the company to become the world’s largest gold miner.
The company is currently led by CEO Tom Palmer.
- Barrick Gold- 4.8 million ounces
Toronto-based Barrick Gold produced just under 4.8 million ounces of gold in 2020, with its production falling 13% compared to the previous year.
The miner, which also produces copper, operates in 13 countries in North and South America, Africa, Papua New Guinea, and Saudi Arabia.
Its operations include six “Tier One” gold mines: Cortez, Carlin, and Turquoise Ridge in Nevada; Loulo-Gounkoto in Mali; Kibali in the Democratic Republic of the Congo (DRC); and Pueblo Viejo in the Dominican Republic.
In 2019, the company completed a merger with competitor Randgold in a $6.5 billion deal. That same year, it combined its Nevada assets with those of Newmont to create a joint venture known as Nevada Gold Mines, which is the largest gold mining complex in the world.
Barrick’s CEO is Mark Bristow, who ran Randgold before the merger.
- AngloGold Ashanti- 3 million ounces
South Africa-based AngloGold Ashanti ranks third among the world’s leading gold mining companies and is the largest producer in Africa.
In 2020, it produced just over three million ounces of gold, which was a 7% decrease from the previous year.
The miner operates primarily in Africa, with operations in Ghana, the DRC, Guinea, Tanzania, and Mali. In 2020, it completed the sale of its two remaining South African assets: Mponeng and Surface Operations.
AngloGold Ashanti was incorporated as an entity in 2004, following the merger of AngloGold and Ashanti Goldfields.
Christine Ramon is currently the company’s interim chief executive, taking over the role following the resignation of previous CEO Kelvin Dushnisky in 2020.
- Polyus – 2.8 million ounces
Polyus is Russia’s largest gold miner, producing just under 2.8 million ounces in 2020, down 3% year-on-year.
It has a portfolio of mines throughout Russia, primarily in Siberia, the largest of which is Olympiad in the Krasnoyarsk region, one of the world’s largest gold mines. Other important operations are Blagodatnoye and Natalka.
The company claims it has proven and probable gold reserves totaling 61 million ounces, of which 24 million correspond to the Olimpiada project.
Development and exploration activities are taking place elsewhere in Russia, notably at the Sukhoi Log project in the Irkutsk region of Eastern Siberia.
Polyus claims that Sukhoi Log contains proven and probable gold reserves totaling 40 million ounces, making it one of the largest gold companies in the world.
Pavel Grachev has been the CEO of Polyus since 2013.
- Kinross Gold- 2.4 million ounces
Toronto-based Kinross Gold produced just under 2.4 million ounces of gold in 2020, marking a production decline of 6% compared to the previous year.
The Canadian company was founded in 1993 and operates a portfolio of mines and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia.
More than half of its productive activity takes place in the Americas region.
In the US, the Fort Knox mine in Alaska and the Round Mountain mine in Nevada are key projects, while the Paracatu operation in Minas Gerais, Brazil, produced 542,435 ounces of gold in 2020.
The Tasiast mine in Mauritania is a major project for Kinross, as is the Kupol-Dvoinoye project in Russia.
The company says it has 30 million ounces of proven and probable gold reserves worldwide.
Paul Rollinson has been the CEO of Kinross since 2012.
