Gold made historical past in 2020 when the value hit a record high in August as pandemic issues weighed on investor sentiment.
Gold mining has been a trademark of commerce throughout the ages, and based on the US Geological Survey (USGS), about 244,000 tonnes of gold have been found up to now, leading to 187,000 tonnes of historic manufacturing, leaving the present underground reserves at 57,000 tonnes. Preliminary knowledge exhibits about 3,200 tonnes of gold have been produced globally over the previous yr.
Regardless that many junior mining firms are engaged within the gold enterprise, the trade right this moment is dominated by a choose group of majors. Mergers and acquisitions made headlines when Newmont merged with Goldcorp and Barrick with Randgold Sources in multi-billion greenback offers.
Utilizing knowledge supplied by sister firm MiningIntelligence, now we have drawn up an inventory of the highest gold miners primarily based on their 2020 manufacturing.
Sure manufacturing figures have been adjusted to mirror an organization’s possession share as of Dec. 31, 2020. Within the case of AngloGold Ashanti (NYSE: AU), which offered some belongings to Concord Gold Mining in October, the manufacturing displays what the corporate reviews as “continued” operations.
Whereas gold manufacturing throughout most of its operations was down in 2020 because of the international pandemic, Newmont (TSX: NGT; NYSE: NEM) retained its crown as by far the most important producer, beating out its closest rival, Barrick Gold (TSX: ABX; NYSE: GOLD), by a million ounces. The world’s no. 1 and a couple of producers teamed up on a three way partnership in 2019, Nevada Gold Mines, which is the world’s largest gold mining complicated.
Polyus (US-OTC: OPYGY; LSE: PLZL), AngloGold, Kinross Gold (TSX: Ok; NYSE: KGC), Gold Fields and Newcrest Mining (TSX: NCM; ASX: NCM)make up the following tier of producers, with greater than two million ounces every.
In whole, there have been 13 firms that noticed their manufacturing surpass the a million ounce mark. The three different miners within the “million-ounce membership” have been Canada’s Kirkland Lake Gold (TSX: KL; NYSE: KL) (1.37 million ounces), Australia’s Northern Star Sources (ASX: NST) (1.01 million ounces) and the U.Ok.-based Nordgold (1.01 million ounces).
An honorable point out goes to Sibanye-Stillwater (NYSE: SBSQ), because the platinum metals producer practically made the record with 0.98 million ounces of gold.
Our rating excludes Navoi Mining & Metallurgy Combinat, proprietor of one of many world’s largest gold mines in Muruntau, because the reliability of its data is unconfirmed. In accordance with reviews, this Uzbek state-owned enterprise produced two million ounces of gold previously yr, which might place it just under Newcrest.
Click here for an excel download of the most important gold mining firms from the MiningIntelligence database.