Gold mining has become an integral part of the economy of many countries, contributing significantly to their revenues and aiding in economic growth and development. This article delineates the top 10 largest producers of gold by country.
At the zenith of the global gold production industry is China, holding the number one position since 2007. According to the most recent data, China produced 365 tons of gold in 2024. The nation’s gold mining industry is a crucial component of its economic structure, contributing to about 0.3% of China’s gross domestic product (GDP). Despite facing a few environmental issues, China is steadfastly consolidating its position at the vanguard of the global gold production industry.
Behind China, taking the second spot in gold production, is Russia with 331 tons of gold produced in 2024. It represents an impressive 9% increase from the previous year. Rich in natural resources, Russia credits much of its economic growth to its vast mining industry. Gold mining, in particular, plays a critical role as it accounts for more than 83% of the country’s total mineral extraction industry.
Third on the list is Australia, amounting to a total of 315 tons of gold production in 2024. With vast and rich gold mines, Australia has seen a recent surge in gold production due to increased exploration activities and the implementation of more advanced mining techniques. These advances have streamlined the mining process, leading to an escalation in gold production.
Coming in fourth on the list is the United States, producing 190 tons of gold in 2024. The U.S. gold mining industry has experienced steady advancement over the years, especially in Nevada, which is known as one of the largest gold-producing regions globally.
South Africa holds the fifth position with a gold production of 125 tons in 2024, a significant drop from its previous dominance in the global gold mining industry. Despite being endowed with some of the world’s largest and richest gold mines, the sector has been challenged by deep levels, high production costs, and labor disruptions.
Canada comes in sixth, producing 120 tons of gold in 2024, mostly from mines in Ontario, Quebec, and British Columbia. Seventh on the list is Peru, generating 110 tons of gold in 2024, with significant contributions from the Yanacocha mine.
The last three on the list include Indonesia, Brazil, and Ghana. These countries produced 100 tons, 90 tons, and 80 tons of gold respectively in 2024. For Indonesia, the gold production primarily comes from the Grasberg mine, the largest gold mine and the second-largest copper mine in the world. Brazil’s gold production is scattered across the country, while Ghana is currently Africa’s largest gold producer.
These countries are leading the global industry, shaping policies, and improving mining methods to increase gold production. As the demand for gold continues to grow globally, these nations will continue to play a pivotal role in meeting the demand. However, it must be noted, responsible mining practices and environmental considerations need to be prioritized in the pursuit of increased gold production.