Production of Gold in Russia reached 12,027.07Thousand Ounces in 2023
Production grew by a CAGR of 0.92% between 2020 to 2023,and is expected to grow by...
GlobalData projects the production to grow at a CAGR of...
Global gold production and impact of COVID-19
Global gold mine production is expected to have dropped in 2020 affected by several factors such as the COVID-19 pandemic, the transition of the Grasberg open pit mine to underground mining in Indonesia, stringent environmental policies in China and the placement of Peru’s Lagunas Norte mine in care and maintenance. On a country basis, the largest declines are estimated in China followed by Indonesia, Peru, Papua New Guinea and the US.
In contrast, despite the challenges posed by the COVID-19 pandemic, production in Australia and Russia – the second and third largest gold producers in the world – is expected to increase by a significant percentage in 2020. The increase in production will be supported by the uninterrupted operations in Australia, coupled with the ongoing ramp-up at Polyus's Natalka project and strong performance at Nordgold's Gross project in Russia.
Global gold reserves
According to the US Geological Survey (USGS), global gold reserves held a significant position as of January 2020. The majority of these are located in Australia, Russia, South Africa, the US and Indonesia. The other countries are Brazil, Peru and China.
Russia gold reserves
Russia held a significant position of gold reserves ranked second in the global total as of January 2020. Gold reserves in Russia are primarily located in Sakha (Yakutia) Republic, Zabaykalsky Krai, Amur and Magadan Oblasts. Yolochka, Olimpiada, Natalka, Blagodatnoye and Chita are among the largest mines in Russia, in terms of gold metal reserves.
Major gold producers
Newmont Corp.
Newmont Corp. is a mining company engaged in the exploration, production, processing and refining of several minerals, including gold, silver and copper. The company has mining assets in Canada, the US, Australia, Peru, Suriname, Mexico, the Dominican Republic, Argentina and Ghana. Its portfolio of mining assets includes Carlin, Phoenix, Twin Creeks, Long Canyon, Tanami, Boddington, Ahafo and Yanacocha, among others.
Barrick Gold Corp headquartered in Canada, is engaged in the exploration and development of mineral properties. The company stood as the second largest gold producer in the world. The company focuses on the production and sale of gold and copper, as well as other related activities such as exploration and mine development. The company primarily owns gold, silver, copper and nickel mines such as Pueblo Viejo, Goldstrike, Cortez, Kibali, Porgera, Veladero, Turquoise Ridge and others. The company operates in Canada, the US, the Dominican Republic, Peru, Chile, Argentina, Tanzania, Zambia, Australia, PNG and Saudi Arabia. It also owns gold mines and exploration properties in Africa, as well as gold projects in South America and North America.
The other notable gold producers are:
Switzerland
China
Japan
Luxembourg
South Korea
Japan
United Kingdom
Australia
Japan
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