Why is gold production so important? Want to know the largest gold producer in the world? To understand these, we need to understand the demands for gold. Gold has a commercial demand that is shaped into jewelry, but also a financial demand, as it is used to manage risks in financial portfolios and to protect the wealth of many. It also has peripheral uses in technologies like the smartphone.
China produces more gold than any other country in the world. Asia as a whole produces 22% of total world production. Central and South America account for 17% with North America contributing 15%. Africa produces 20% and the former CIS region of the Soviet Union 14%.
Surprisingly, recycling gold accounts for a third of total production. Below is a list of the main gold producing countries in the world. All figures come from the US Geological Survey.
The 10 Gold Producing Countries In The World
The old popular adage already says that not everything that glitters is gold. But what is not lacking in the world is gold and we will already understand why. Which country produces more gold annually?
10. Ghana – 90,000 kilograms
Formerly known as the Gold Coast, for its abundance of metals, Ghana produced 100 tonnes of gold in 2011, but last year it produced only 90 tonnes, which shows that its reserves are decreasing. They are estimated to have only 1,400 tonnes of reserves. Ghana’s gold mining industry represents 5% of the country’s GDP and minerals account for 37% of the nation’s exports.
Ghana is second on the list of the largest gold producing countries in Africa, behind South Africa.
9. Mexico – 92,000 kilograms
Mexico is the ninth country that extracts more gold from the soil, but faces serious security problems, companies, almost all foreign, among other concerns, are afraid of the kidnapping of their employees.
Last year, in an interview, one of those responsible for one of the largest refineries reported that masked and heavily armed robbers stole 900 kilograms of gold concentrate from the Mining McEwen refinery in the state of Sinaloa. The company estimates that the theft amounted to $ 8.5 million. Mexican soil still has a lot of gold to mine but companies have a serious problem in their arms.
8. Uzbekistan – 1 02,000 kilograms
Uzbekistan is a country that has no coastline but is nevertheless deprived of a wealth of ore and other precious resources. Its big problem is to get these resources out of the country, as it is in a complicated enclave. This is the 8th country with the highest gold production in the world, producing the equivalent of 102 thousand kilos of precious metal per year.
Much of the country’s gold is nationalized and owned by Navoi Mining and Metallurgial Combinant, the state’s mining companies. While Uzbekistan is at the bottom of the top ten list, it has the title of the world’s largest open-pit mine, the Murutau mine. The gold is not the only precious resource of Uzbekistan. The country also has impressive reserves of copper, molybdenum, silver and uranium.
7. South Africa – 149,000 kilograms
Africa’s largest gold producer is South Africa. South Africa extracts about 149,000 kilograms from the soil per year. Perhaps the most surprising thing is that 6,000 tons of gold is yet to be discovered.
In fact, until 2006, South Africa was considered the largest gold producer on the planet. Although the country has a lagging economy, gold has been the driving force in global economic participation. A gold rush in 1886 led Johannesburg to be today the largest city in South Africa.
6. Peru – 150,000 kilograms
From North America, we head to Peru, which is the largest producer of precious metals in Latin America. This ranks second in terms of producers on the American continent. If mining has been an oxygen balloon in the country’s public finances, pollution has already had a very negative impact on the environment. Mining in Peru has increased by 400% in the past decade, which means a brutal attack on the protected area of the Peruvian Amazon.
The problem with Peru’s mines is that many of them are located at the top of the mountains. However, the result of mining has destroyed or considerably affected all land in the surrounding areas.
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5. Canada – 158,000 kilograms
Canada is the land of snow, oil and precious metals. Most of Canada’s gold comes from the province of Ontario, more specifically from the Red Lake mine. Canada is so patriotic about its gold that it even produces Canadian dollar gold coins (whoever wants to buy it must have a few hundred dollars) and it is not easy to obtain these coins.
Canada’s gold mines are among the smallest of the world’s largest gold producers.
4. United States – 211,000 kilograms
It has been in the top 3 of the countries with the most gold mined but has been overtaken by Russia. The largest mines in the United States are located in Nevada (near Las Vegas) and Montana, most of their gold is stored in vaults under New York City, Fort Knox, and elsewhere that few citizens Americans know.
More than 8,000 tons of gold are kept in these vaults by the Federal Reserve and the Department of the Treasury; totals are equivalent to 75% of total international reserves.
3. Russia – 243,000 kilograms
With approximately ⅙ of the world’s territory, it is not surprising that Russia has an enormous amount of gold. More than 5,000 tons are still buried, practically untouched, in the eastern reaches of Siberia and beyond. But Russia has also been importing gold to feed its apparently insatiable appetite for vile metal: in 2012, it imported about 5% of its 900 tonnes it has in reserve at the bank.
Whether deposited in the bank or on the ground, Russia certainly likes gold, as it ranks 6th in the ranking of countries with the most gold reserves in the world.
2. Australia – 270,000 kilograms
Colonialist miners exploit barren soils to produce a massive course and win second place on the list, with 270,000 kilograms of gold. Two-thirds of the total comes from mines in Western Australia, based outside Perth. The largest open mine on the continent, called the Golden Mile, leads the nation in the production of this valuable export product, which is worth Australia $ 14 billion a year.
In addition to around 7,400 tonnes of untapped reserves, Australia holds about 80 tonnes of gold or 9.3% of its external reserves.
1. China – 450,000 kilograms
At the top of this list, of course, China appears. It produces more than ⅓ than the closest competitor. In addition to being the largest producer in the world, this country is also the largest consumer of gold. Which is also nonsense being a country where there are hundreds of millions of people in poverty. Most of the mines are located in Shandong province, located halfway between Beijing and Shanghai, and about a fifth of production is controlled by the China National Gold Group.
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