Most of the biggest gold mining companies in the world are simultaneously operating in various regions across the globe, from South America and Africa to Australia. Gold remains a very precious resource as a result of its multi-industrial applications, from jewellery to electronic components. The current estimate is that there are approx. 53,000 tons of gold, in deposits that are spread across the globe. Of this total amount, approx. 3,200 tons were extracted in 2020.
Most of this amount has been extracted by 5 multinational gold mining companies.
The top 5 biggest gold mining companies in the world by Q1 2021
1. Newmont - 1.4 million ounces
The Colorado-based company is currently the biggest gold mining company in the world. With an output of 5.8 million ounces during 2020 and 1.4 million ounces after the first quarter of 2021, it has maintained its leading position despite a 2% production decline when compared to Q1 of the previous year.
2. Barrick - 1.1 million ounces
Barrick Gold is a Canadian gold miner based out of Toronto that has extracted 4.8 million ounces of gold during 2020 and 1.1 million in Q1 2021. When compared to 2019, Barrick Gold's output has decreased by approx 13%. The company operates in several countries and its mining sources include six "Tier One" gold mines.
3. Polyus - 592 thousand ounces
The largest gold mining company in Russia, Polyus has outputted 2.8 million ounces during 2020 and 592 thousand ounces during Q1 2021. The company has exploration and development projects underway throughout the Russian Federation, the most promising one being the Sukhoi Log project in Eastern Siberia.
4. AngloGold Ashanti - 588 thousand ounces
AngloGold Ashanti is based out of Africa and has ranked third in the top 5 biggest gold miners in the world, in terms of overall production. The company has produced approx. 3 million ounces of gold during 2020 and 588 thousand ounces in the first quarter of 2021. The primary extraction sites of AngloGold Ashanti are spread throughout Africa.
5. Kinross - 559 thousand ounces
Kinross Gold is also based in Toronto, however, it has only managed to extract a total of 2.4 million ounces during 2020. This is approx. 6% less than the output of 2019. The company has produced 559 thousand ounces of gold during Q1 of 2021, which is slightly less than the 567 thousand ounces of the first quarter of 2020.