In the year 2013, the gold market was value at approximately $210 billion – no small amount of money. Gold mining is a huge source of export for dozens of countries, employs thousands of people worldwide, and has a direct impact on the U.S. economy. Needless to say, it’s an important commodity.
Here’s a look at the world’ top gold producers:
By Country
- China – In both 2013 and 2014, China was the world’s top producer of gold. In 2013, China produced 438.2 tons of gold, and in 2014, produced even more: 465.7 tons, a six percent increase.
- Russia – Russia also continues to dominate the gold market, surpassing Australia as the country to produce the second most amount of gold in the world. In 2014, Russia’s gold production grew 14 percent from 248.8 tons in 2013 to 272 tons.
- Australia – Australia may have lost its second place spot to Russia, but still fell in number three on the list of the world’s top gold producers. Only making a one percent growth in gold production, 2013 saw 268.1 tons of gold; 2014 saw 269.7 tons of gold produced in the country.
- USA – America’s gold economy took a turn for the worst in 2014, producing 12 percent less than the previous year. Regardless, the United States still fared well in terms of global gold production, producing 200.4 tons in 2014.
- Peru – Fifth on the list, barely beating out South Africa for the spot, is Peru. However, Peru also saw losses from 2013 to 2014, producing 187.7 tons in 2013 and then only producing 169.3 in 2014.
- South Africa – Often thought of as the gold capital of the world, South Africa produced nearly 64 percent of the world’s gold output in the year 1983. Today, however, South Africa accounts for a little over six percent. In 2013, the country produced 177 tons of gold; in 2014, 164.5.
By Manufacturer
In addition to looking at gold production by country, gold production by manufacturer is another important consideration when monitoring the flow of gold worldwide. In 2014, the top gold producers by manufacturer were:
- Barrick Gold Corporation – A Canada-based company that mined 6.25 million ounces of gold in 2014. Most of their gold came from the U.S., Argentina, Peru, and the Dominican Republic.
- Newmont Mining Corporation – Located in South Africa, this company produced 4.85 million ounces of gold in 2014. The company also mines for copper and silver.
- AngloGold Ashanti Limited– The third most prominent gold manufacturer in 2014 was AngloGold Ashanti Limited, which produced 4.44 million ounces of gold and has 20 mines in 10 countries across the world.
Gold comes from a variety of locations on the planet. When you trade gold, you’re making a tangible investment that has the potential to yield high returns. To learn more, consult with an investor today.