The current world supply of gold is estimated to be approximately 244,000 metric tons, which may sound like a lot.. However, the amount of gold mined from Earth would only fill about 3.5 Olympic-sized swimming pools. With such a limited supply, where is gold mined?
Gold is extracted in numerous countries worldwide, but five nations dominate production: China, Australia, Russia, the United States, and Canada. Large-scale mining operations in these countries play a significant role in supplying the global demand for this precious metal.
World Mine Production of Gold by Country in 2023
Gold Mined by Country 2024
China
China has been the world’s leading gold producer for over a decade. The Shandong province, particularly the Jiaodong Peninsula, holds some of the largest gold reserves in the country. Major gold mines in China include:
- Zijinshan Gold-Copper Mine – Produced approximately 40 metric tons of gold in 2023.
- Shandong Gold’s Sanshandao Mine – Yielded around 35 metric tons in 2023.
- Linglong Gold Mine – An older mine in operation since the early 20th century, contributing 28 metric tons in 2023.
China’s gold industry is heavily regulated by the government, which ensures consistent production and exploration efforts.
Australia
Australia is the second-largest gold producer in the world, with its mines located in Western Australia, New South Wales, and Victoria. The Kalgoorlie Super Pit, one of the largest open-pit mines globally, remains a significant contributor to Australia’s output. Key mines include:
- Boddington Gold Mine – Produced 29 metric tons in 2023.
- Kalgoorlie Super Pit – Delivered around 23 metric tons last year.
- Cadia Valley Operations – Yielded 22 metric tons in 2023.
Australia’s geological stability and vast reserves make it a leading destination for gold mining. Their gold history is translated into popular bullion coins at The Perth Mint.
Russia
Russia is another major gold producer, with its vast landmass containing numerous gold-rich deposits. The Siberian region is particularly rich in gold reserves. The country’s key mines include:
- Olimpiada Mine – The largest gold mine in Russia, producing approximately 42 metric tons in 2023.
- Kupol Gold Mine – Located in the Far East, it yielded around 20 metric tons last year.
- Blagodatnoye Mine – Produced 18 metric tons in 2023.
Russia’s gold mining industry has benefited from significant investment in exploration and technology.
United States
Gold mining in the United States dates back to the 19th-century gold rushes. Today, the majority of the country’s gold production comes from Nevada, which hosts some of the richest gold mines in the world. Notable mines include:
- Carlin Trend – Produced approximately 50 metric tons in 2023, making it one of the largest gold-producing areas in the world.
- Cortez Mine – Yielded around 26 metric tons in 2023.
- Round Mountain Gold Mine – Contributed 15 metric tons last year.
Gold mining remains an essential industry in the United States, with operations concentrated in several key states, including Alaska and Colorado.
Canada
Canada’s gold production is concentrated in Ontario, Quebec, and British Columbia. The country’s mines are known for their high-grade deposits and advanced mining technologies. Key contributors include:
- Red Lake Mine – Produced 20 metric tons in 2023.
- Detour Lake Mine – Delivered around 18 metric tons last year.
- Brucejack Mine – Yielded 15 metric tons in 2023.
Canada’s stable political environment and rich geology make it a major player in global gold production.
Other Locations
In addition to the top producers, smaller quantities of gold are mined in countries like South Africa, Peru, Indonesia, Ghana, and Brazil. South Africa, once the world’s largest gold producer, now contributes less but remains home to some of the deepest and most famous gold mines, such as Mponeng and TauTona.
With gold being mined in nearly every continent, the global supply chain relies on a diverse array of countries and mining operations to meet demand.
