The story of gold began over 6,000 years ago in Eastern Europe when it was fashioned into decoration and jewelry. Afterward, it was used as currency—coins made of two parts: silver on one side and gold on the other side.
Gold mining, including selling and use, has been happening for thousands of years now. It can be regarded as one of the oldest industries in the world. Gold remains very valuable today because of its unique properties that cut across different sectors of human life. One such is how gold is used to prevent economic downturns.
In this article, we’ll share countries that are the largest producers of gold in the world and have been enriched by it. Gold increases government revenue, stabilizes the economy, and contributes to the development of these nations.
The list of countries below is based on investigatingnewsnetwork.
1. China
China is currently the largest gold-producing country in the world. This position was made possible because of China’s consistency over the years. The gold mining industry is dominated by state-owned operators such as Shandong Gold, Zijin Mining Group, China Gold International Resources, etc. The country’s gold production is 370 metric tons.
2. Australia
Australia, as the second largest gold producer in the world, exports its produce to over 50 countries. The gold industry is a major contributor to government revenues. It has helped the country with infrastructural and community developments. Australia produces 310 metric tons of gold.
3. Russia
As the third gold producer in the world, Russia has a significant influence on global production. The country has control over many assets in Africa and Central Asia. The dependence on oil and gas revenues has reduced, and gold has been used to support the economy. Gold production is currently about 310 metric tons.
4. Canada
Canada is a major producer and exporter of gold across the globe. It has about ten provinces and territories where mining takes place. The “Canadian Shield” is home to most of the gold reserves in the country. Gold mining contributes immensely to Canada’s economy, with about 200 metric tons.
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5. United States
The United States has numerous active gold mines, which include the Victor Gold Mine in Colorado, Fort Knox Gold Mine in Alaska, Cripple Creek, and the Carlin-Unlin Trend mines in Nevada — here is where many gold production takes place. These mines support America’s economy with about 170 metric tons of gold production.
6. Kazakhstan
The gold mining industry in Kazakhstan has been expanding in various regions. The country currently extracts 130 tons of gold, ranking Kazakhstan sixth globally. The notable regions where mining is abundant are Karaganda, East Kazakhstan and Akmola.
7. Mexico
Mexico, known for its long mining tradition, created favourable environments for the industry. The abundant gold production has attracted many private companies to Mexico. Mining continues to play a significant role in the country’s economy, extracting 120 metric tons of gold.
8. Indonesia
The mining industry is one of Indonesia’s important sectors, placing the country in the eighth position among the largest gold-producing countries in the world. Indonesia is home to several gold mining companies. Both artisanal and small-scale gold mining are practiced. Indonesia produces 110 metric tons of gold.
9. South Africa
In South Africa, Witwatersrand Basin in the country, is one of the largest gold resources in the world. This country has been one of the world’s top gold producers for decades. It produces about 100 metric tons of aurum.
10. Uzbekistan
Uzbekistan ranks the tenth largest gold producer in the world. The country is a major key player in the global market, contributing 100 metric tons. The hallmark of Uzbekistan has been “consistency” which has made the nation become more relevant in the global gold industry.
