1. China
China leads the world in gold production, and according to estimates by the World Gold Council, it produced a whopping 380 metric tons by the end of 2024. The prominence can be attributed to extensive gold mining sites distributed across the nation, led by Shandong Gold Group and China Gold International Resources. China’s gold output has continued to shape global market dynamics.
2. Russia
Russia follows closely behind China, producing an estimated 330 metric tons of gold in 2024. Russia’s vast geological landscape is home to numerous gold mining operations. Among the leading powerhouses is Polyus, Russia’s largest gold producing company. According to Polyus, the gold mines in Russia enjoy lower costs and higher-grade ores, enhancing Russia’s gold production competitiveness.
3. Australia
Estimated to produce 320 metric tons by the end of 2024, Australia claims the third spot on this list. Australia’s gold production is significantly influenced by the Goldfields-Esperance region, which hosts the Golden Mile, deemed to be one of the largest gold deposits globally. Moreover, gold mining giants like Newmont Goldcorp also contribute notably to Australia’s gold production.
4. United States
The United States comes in fourth with a production capacity of 200 metric tons in 2024. Nevada is regarded as the nation’s top gold producing state, contributing a significant percentage to the overall output. American multinational corporation Newmont Goldcorp operates most of the mines in this region. Other notable gold mines are found in Alaska and Colorado.
5. Canada
Canada’s place as the fifth gold producer globally comes from an estimated output of 170 metric tons in 2024. The central source of these precious metals is the Abitibi Greenstone Belt in Ontario and Quebec. Additionally, Canada boasts significant gold mines in British Columbia and Yukon Territory. Barrick Gold, the world’s second largest gold mining company, is a significant contributor to Canada’s gold supply.
6. Peru
Peru claimed its sixth position by producing an estimated 150 metric tons of gold in 2024. The country’s bountiful Andean regions shelter its massive gold mines. Major mining companies operating in Peru include Barrick Gold, Newmont Goldcorp, and Freeport-McMoRan.
7. Ghana
As Africa’s largest gold producer, Ghana contributed around 140 metric tons in 2024, taking the seventh position worldwide. This output is mainly from Obuasi and