Among the world’s top gold mining companies, the five listed here have consistently come out top as the most successful operators.
Canadian gold mining companies currently lead the sector for this precious metal, with two operations in the top five. Firms from the US, South Africa and Australia complete the list.
Considering a gold mining company as one of the largest in the world does not necessarily create a correlation between the physical size of its mines.
Typically, a mine’s “size” is measured by the amount of gold produced (tonnes or troy ounces), along with the grade (or quality) of the metal extracted also taken into account.
The world’s top 5 gold mining companies
Here is NS Energy’s list of the top five gold mining companies in the world.
1. Newmont Goldcorp: 158.7 tonnes
The colossal American gold mining company Newmont Goldcorp ranks first in this list of the world’s largest gold-producing companies.
With mining operations in five continents, encompassing countries such as the US (Nevada and Colorado), Canada (Ontario and Quebec), Mexico, the Dominican Republic, Suriname, Argentina, Peru, Ghana and Australia, Newmont’s 2018 gold production amounted to 158.7 tonnes. Production is expected to have exceeded 184 tonnes in 2019, according to BullionByPost.
Newmont acquired Canadian company Goldcorp (one of the top 10 gold mining companies in the world) in a $10 billion deal in early 2019. The acquisition blazed the trail for a joint venture (JV) called Nevada Gold Mines with fellow Canadian miner Barrick Gold.
According to a joint press release, the Nevada-based partnership gave rise to the largest gold complex in the world. With Newmont Goldcorp owning 38.5% share in Nevada Gold Mines, the Colorado-based mining company’s 2019 gold production was predicted to be about 6.5 million troy ounces.
2. Barrick Gold: 140.8 tonnes
Topping the gold mining list in 2017, Canadian gold mining company Barrick Gold dropped to second spot in 2018 — despite producing 140.8 tonnes of the precious metal. In July 2018, Barrick Gold entered a joint venture with Newmont Goldcorp by merging its Nevada assets to be called the Nevada Gold Mines. In September of the same year, Barrick acquired Randgold Resources. Its Nevada production in 2019 was predicted to be about 1.5 million troy ounces.
A company statement released in February 2019 declared that its full-year gold production of 4.53 million troy ounces in 2018 fell within guidance. Its first-quarter results of 2019 showed an 8% increase in output.
Additionally, certain gold production measures lay claim to Barrick remaining the world’s largest mining company in the sector.
3. AngloGold Ashanti: 106.1 tonnes
Third in the list comes South African mining company AngloGold Ashanti, which has 17 gold mining operations in nine countries. In 2018, AngloGold produced 106.1 tonnes of gold — albeit a 10-tonne decrease from the previous year’s output.
AngloGold Ashanti has operations in Ghana, including the Obuasi facility. While operations were suspended in 2014 due to maintenance works, the company took the decision in 2018 to redevelop it and restart commercial gold production.
4. Kinross Gold: 77 tonnes
Canadian gold mining company Kinross Gold has a major presence in countries such as Brazil, Chile, Mauritania, Ghana, the US and Russia. Producing 77 tonnes of gold in 2018, Kinross stands fourth in our list of gold producing companies. However, this figure marks a near-seven-tonne drop from the previous year when it had produced 83.9 tonnes.
Despite this, 2018 was also Kinross’ seventh successive year of meeting or exceeding production and cost guidance. In February 2019, the Toronto-based gold miner predicted a strong 2019, with an estimated production of 2.5 million troy ounces of gold alongside costs in line with 2018.
5. Newcrest Mining: 76.4 tonnes
Fifth in this list is Australia-based Newcrest Mining, which has mining operations in four countries. In 2018, the Aussie gold miner produced 76.4 tonnes of gold — an increase of more than five tonnes from its previous year’s 71.1 tonnes.
Headquartered in Melbourne, Newcrest claims to be one of the few companies that possess the largest group gold ore reserves in the world. Having approximately 69 million troy ounces of gold ore reserves, these reserves are estimated to last for another 27 years.
During the fourth quarter of 2018, Newcrest Mining witnessed a record production of 239,000 troy ounces of gold at its Cadia gold-copper mine in New South Wales. Australia’s top gold mining company also spoke of growth in the previous quarter at its Gosowong (Indonesia), Telfer (Western Australian desert) and Lihir (Papua New Guinea) mines. Gold production at the three mines rose by 19% with nearly 655,000 troy ounces unearthed.