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Top 10 Gold Producing Countries In The World
10 biggest gold producing countries
There is plenty of gold to go around. And however, gold production varies widely among different nations. From not too known places like Uzbekistan to leading gold producing countries like Ghana and South Africa, gold production of dozens of tons per year is not unheard of in the most major gold producing countries.
Below is a list of the ten top gold reserve countries in the world.
Top 10 Gold Producing Countries 2016
China is the world largest gold producing country and mines almost ⅓ more than the next closest competitor. In addition to taking the lead as the largest deposit, the number one consumer of gold is China. And yes, this befits a country whose economy has benefited millions of people across the world.
Most mines are located in Shandong Province, which is located midway between Beijing and Shanghai, and roughly one fifth of output is controlled by the China National Gold Group. Despite its large mines of gold, only about a thousand ton are held as reserve – a massive amount by most standards but a mere 1.7% of its foreign holdings.
And we'll, according to reports, over 1,900 tons are still sitting in the ground, although they are quickly being depleted: its pace has risen over 10% yearly and seems, if anything, likely to pick up with higher gold prices
Australia is also blessed with gold. And according to reports, two thirds of the total is deposited in huge gold mines scattered across Western Australia, based out of Perth. The largest open mine on the continent, named the Golden Mile, is the biggest producer of this precious commodity in the country, which earns Australia $14 billion per year. In addition to an estimate of 7,400 tons of unmined deposits, Australia has about 80 tons of gold or 9.3% of its foreign reserves.
3. United States
The United States are the third-ranked producers of gold and have been consistent in the list of the top 5 gold producing countries in the world. While its mines are mostly in Nevada and Montana, most of its gold sits in vaults under New York City, Fort Knox, and elsewhere. According to reports, over 8,000 tons of gold are held in these vaults by the Federal Reserve and the Treasury Department; the totals are valued at about three quarters of the total foreign reserves. The current high production figures are due to the reopening of once malfunctioning mines in Montana as gold prices have increased over the years.
Russia is filled with gold. According to a report, 'Over 5,000 tons are still sitting, mostly untouched, in the far eastern reaches of Siberia and environs, but the country has also been gradually importing gold to feed its seemingly insatiable appetite for the precious metal: in 2012, almost 5% of its reserves then were imported again. Whether as underground deposit or in storage, Russia is one of the largest gold producing countries in the world.
5. South Africa
South Africa is the biggest gold producing country in Africa, mining an estimate of 190,000 kilograms per year. South Africa’s gold mining still got more than 6,000 tons left to be uncovered. In fact, until 2006, South Africa was considered the largest producer of gold in the world, and although they have now been left behind, there is room for improvement. Nevertheless, it tops the list of top 10 gold producing countries in Africa.
South Africa's gold mining is the major factor driving the nation's participation in international economy. In 1886, South African gold rush paved way for the birth of Johannesburg, the biggest city in the country today.
Peru is said to be the largest producing gold country in Latin America. In the entire Americas, it is second, following the United States.
Despite the fact that the country is bringing in some certain money from gold profits, the process of gold mining has negative environmental implications. Gold mining in Peru has increased by 400% in the past decade, which means that a great impact has been felt on the Peruvian Amazon. And it's being said that the problem with Peruvian gold mining is that most gold mines are located on mountain tops and therefore surrounding lands feel the negative impacts of such mining operations.
The majority of Canada’s gold is from Ontario, specifically Red Lake gold mine. Someone said, 'Canada is so patriotic about its gold, in fact, that if you have a few hundred dollars laying around, you can purchase a Canadian gold coin! Buy as much as you can, considering the fact that gold mines in Canada are some of the smallest in the top ten list of highest gold producing countries.'
Ghana, once known as the Gold Coast due to the large deposit of precious metals it has, Ghana mined a hundred tons of gold in 2011, though its supplies are diminishing as reserves are estimated to be about 1,400 tons only. Ghana’s gold mining industry makes up 5% of the country’s GDP, and solid minerals are 37% of the nations exports. Ghana is number two country on the list of largest gold producing countries in Africa, behind South Africa.
The record for the largest gold mine on the planet, belonging to Indonesia, is Grasberg. This mine employs 19,000 workers. Nevertheless, it is also considered as one of the world’s most toxic locations. This mine is said to releases 1,000 tons of mercury into the atmosphere every year, in addition to producing 100,000 kilograms of gold. And as someone said, 'the people who live near this mine consume fish that contain twice the permissible amount of exposure to mercury, which translates to a very dangerous public health issue for people in that region.
Uzbekistan, the last of the top ten gold producing countries, is known to be one of only two doubly landlocked countries in the world. Nevertheless, that doesn’t mean the country is not endowed with mineral resources, though there might be obvious challenges with shipping.
Uzbekistan mines about 90,000 kg annually. The largest deposits are nationalized, and is owned by Navoi Mining and Metallurgial Combinant mine.
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