Gold made historical past in 2020 when the worth hit a record high in August as pandemic considerations weighed on investor sentiment.
Gold mining has been a trademark of commerce throughout the ages, and in accordance with the USA Geological Survey (USGS), about 244,000 tonnes of gold have been found to this point, leading to 187,000 tonnes of historic manufacturing, leaving the present underground reserves at 57,000 tonnes. Preliminary information exhibits about 3,200 tonnes of gold have been produced globally over the previous 12 months.
Despite the fact that many junior mining corporations are engaged within the gold enterprise, the business as we speak 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 information supplied by sister firm MiningIntelligence, now we have drawn up a listing of the highest gold miners based mostly on their 2020 manufacturing.
Sure manufacturing figures have been adjusted to replicate an organization’s possession proportion as of Dec. 31, 2020. Within the case of AngloGold Ashanti (NYSE: AU), which bought some belongings to Concord Gold Mining in October, the manufacturing displays what the corporate experiences 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 largest producer, beating out its closest rival, Barrick Gold (TSX: ABX; NYSE: GOLD), by a million ounces. The world’s no. 1 and a pair of producers teamed up on a three way partnership in 2019, Nevada Gold Mines, which is the world’s largest gold mining advanced.
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 corporations 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 almost made the checklist 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 info is unconfirmed. In keeping with experiences, this Uzbek state-owned enterprise produced two million ounces of gold prior to now 12 months, which might place it just under Newcrest.
Click here for an excel download of the largest gold mining corporations from the MiningIntelligence database.