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Gold mining is a global, highly capital-intensive industry. Companies locate promising gold deposits, build the infrastructure for large-scale mines, and utilize complex extraction and refining processes to produce gold bullion.

In this article, we will examine the largest gold producers that operate many of the most prolific mines across Africa, the Americas, Asia Pacific, and other regions worldwide.

 

1. Newmont Corporation

Newmont is the world’s largest gold mining company, headquartered in Greenwood Village, Colorado, USA. In 2021, Newmont produced around 5.2 million ounces of gold from 12 mines across North America, South America, Africa, and Australia.

The company has gold reserves of over 90 million ounces and mineral resources of over 270 million ounces.

Some of Newmont’s assets include the Carlin and Yanacocha mines in Nevada and Peru, respectively. The company also owns half of Australia’s Kalgoorlie Super Pit gold mine. Newmont employs over 14,000 people worldwide, and its revenue in 2022 totalled $11.915 billion.

 

2. Barrick Gold Corp

Barrick Gold is one of the famous companies that mine gold based in Canada and is the second-largest gold producer globally. For 2022, Barrick’s gold production amounted to nearly 4.4 million ounces. The company has operations and projects in 13 countries across North and South America, Africa, Papua New Guinea, and Saudi Arabia.

Barrick owns numerous high-quality assets, including the Cortez mine in Nevada and the Goldstrike mine on the Carlin Trend. The company’s Pueblo Viejo mine in the Dominican Republic is one of the world’s largest gold mines. Barrick’s 2023 revenue was $11.4 billion, with over 20,000 employees worldwide.

 

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3. AngloGold Ashanti

AngloGold Ashanti is a Johannesburg, South Africa-based gold mining company and the third largest producer globally. It has operations and projects across Africa, Australia, and the Americas. For 2022, AngloGold Ashanti produced around 2.7 million ounces of gold.

The company owns the Iduapriem and Obuasi mines in Ghana, the Geita mine in Tanzania, and the Sunrise Dam mine in Australia. AngloGold Ashanti has a globally diverse spread of operations located across nine countries. The company employs over 28,000 people and recorded revenues of $4.5 billion in 2022.

 

4. Kinross Gold Corporation

 

Man wearing a reflective vest and a hard helmet standing near a mining truck

 

Among the companies that mine gold in Toronto, Canada, Kinross Gold has mining operations and projects in the United States, Brazil, Chile, Ghana, Mauritania, and Russia. For 2021, Kinross produced gold reserves of 32.6 million ounces.

Some of Kinross’s primary assets include the Paracatu mine in Brazil, Round Mountain in Nevada, Tasiast in Mauritania, and the Kupol mine in Russia. Kinross employs over 9,000 people across its operations and projects. The company reported $3.279 billion in revenue for 2021.

 

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5. Gold Fields Ltd

Gold Fields is a South African gold mining company with operations and projects across South Africa, West Africa, Australia, and South America.

The company owns the South Deep mine in South Africa, the only underground gold mine in the country. Other significant assets are the Cerro Corona mine in Peru and the Gruyere and St Ives mines in Australia.

Gold Fields has total gold mineral reserves of 47.4 million ounces and over 250 million ounces of mineral resources. The company generated revenues of $4.287 billion in 2022.

 

6. Polyus

There are also well-known companies that mine gold in Russia, such as Polyus Company, a top 10 contender for the global gold miners. The company’s operations are located entirely in Russia across the Irkutsk, Magadan, and Krasnoyarsk regions.

The company’s largest mine is Olimpiada, one of the world’s biggest gold deposits. Polyus also owns the Blagodatnoye, Natalka, Verninskoye, and Kuranakh mines.

The company has the largest gold reserves among global gold miners, with over 97 million ounces of contained gold. Polyus employed over 16,000 people in 2021 and earned revenues of $4.3 billion in 2022.

 

This article may pique your interest: Gold ETFs vs. Physical Gold

 

7. Agnico Eagle Mines

 

A hauling truck follows a path within the expansive mining pit

 

Agnico Eagle is a Canadian gold producer operating in Canada, Australia, Finland, and Mexico. In 2023, the company produced about 903,208 ounces of gold. Agnico Eagle’s flagship properties include the LaRonde Complex in Quebec, the Canadian Malartic mine, and the Kittila mine in Finland.

The company has been paying dividends for over three decades and has declared a yearly dividend since 1983. Agnico Eagle has over 50 million ounces of gold mineral reserves and extensive mineral resources. The company employs around 6,500 people and reported revenues of $5.7 billion for 2022.

 

8. Kirkland Lake Gold

Many companies that mine gold are based in Canada. Another company on our list is Kirkland Lake Gold, which operates in Canada and Australia. The company has mines and projects located in the prolific gold mining regions of Timmins, Ontario, and Northern Territory, Australia.

The company’s cornerstone assets include the Fosterville mine in Australia, the Macassa mine in Ontario, and the Detour Lake mine in Canada. Kirkland Lake has over 24 million ounces of gold mineral reserves and 58 million ounces of measured & indicated mineral resources. The company employs around 3,600 people, with 2021 revenue totalling $2.5 billion.

 

9. Coeur Mining

Coeur Mining is a U.S.-based precious metals producer with gold and silver mining operations in the Americas. Coeur is produced from five precious metals mines in the U.S., Mexico, and Canada. For 2022, the company reported gold equivalent production of over 330,000 ounces.

Coeur’s significant gold assets are the Palmarejo silver-gold complex in Mexico and the Silvertip silver-zinc-lead mine in British Columbia. The company also owns the Rochester gold-silver mine in Nevada, the Kensington gold mine in Alaska, and the Wharf gold mine in South Dakota.

Coeur Mining has proven and probable gold reserves of around 3.4 million ounces. The company has over 2,100 employees and generated revenues of $786 million in 2022.

 

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10. Endeavour Mining

Endeavour Mining is a gold producer focused on West Africa, with three mines in Côte d’Ivoire, four in Burkina Faso, and project development in Mali and Côte d’Ivoire.

Endeavour’s portfolio includes the Houndé, Ity, Agbaou, and Karma mines in Côte d’Ivoire and Burkina Faso. The company also has the Fetekro gold project in development located in northern Côte d’Ivoire. In 2021, Endeavour completed its acquisition of Teranga Gold, adding the Sabodala-Massawa and Wahgnion gold mines in Senegal and Burkina Faso, respectively.

Endeavour has proven and probable mineral reserves of over 15 million ounces of gold. The company employs around 5,500 people; its 2022 revenue amounted to $2.31 billion.

 

Closing Thoughts

For traders and investors in the gold market, being aware of the major companies that mine gold provides essential context on the global supply and availability of gold.

As the largest gold miners with operations spanning multiple continents, these companies have an outsized impact on overall gold production volumes and help set market price expectations. Their financial performance and production forecasts can influence investment decisions and trading strategies related to gold.

Additionally, supply disruptions at any of the major mines operated by these companies could affect global gold supply, so their operating status is a crucial data point.

 

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“When considering “CFDs” for trading and price predictions, remember that trading CFDs involves a significant risk and could result in capital loss. Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be considered investment advice.”

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