Top 5 Gold Producing Countries

Top Gold Producing Countries

If you are interested in gold you have probably at some point tried to figure out which locations on earth produce the largest quantities, it has certainly crossed our mind a time or two. Here is a list of the top 5 gold producing countries in the world.

According to the USGS (United States Geological Survey), global gold production in 2012 exceeded some 2,700 tons in 2012 with trends for 2013 increasing that value by some 4 to 5% (current numbers are in development). Although the largest mines are located in Indonesia, Siberia, South Africa and the Gobi Desert, gold production by country varies dramatically. Here is a list of the top 5 gold producing countries:

1. China – Since 2007, China has been at the forefront of the top gold producers in the world. With output in 2012 exceeding 370 tonnes, China continues to dominate the gold production landscape and should continue to do so for the foreseeable future.
2. Australia – With output in 2012 of over 250 tonnes of gold, the mines located in Australia have lower production numbers than in the past, but still produce enough to maintain second place.
3. USA – Although none of the largest mining companies in the world are located in the US, with production of around 230 million tonnes of gold, still comes in at number 3. As with Australian production, US production has slipped from production highs in the past.
4. Russia – With one of the largest mining companies in the world located in Central Siberia and with a multitude of other mines located within it’s borders, Russia’s output of 205 tonnes ranks it #4. However, even though gold production continues to increase steadily, levels are nowhere near the production marks reached during the Soviet Union years.
5. Peru and South Africa – Although South Africa still holds the historical record for gold production in a year at over 1,000 tonnes, current production sits around 170 tonnes for 2012 with Peru’s production at over 165 tonnes. This gives them what is tantamount to a tie for 5th place.

While overall gold production for the top 10 gold producing countries equates to some 60% of worldwide gold production, the net impact is shifting. Due to dropping production by South Africa and stagnating production output by countries like Peru, Canada and the US, gold mine production could see declines throughout the foreseeable future. While gold production on the whole was up for 2012, trends in 2013 showed a slight decline and future trends, governed by lower gold demand and higher production costs could see global gold production slip even further. Depending on the situations that develop in the global gold market, some mines may even cease production altogether over the next few years.