Top 5 Gold-Producing Countries
The countries where most of the world’s gold is mined and produced are not necessarily the same countries where most gold is bought and consumed. In recent history, South Africa has been the largest producer of gold in the entire world. In fact, South Africa held this title until 2006 and was at its peak in gold production during the 1960s and 1970s. However,in 2007, China beat South Africa and became the largest producer of gold.
Let’s take a look at the top 5 gold-producing countries in the world:
(Keep in mind that these figures are gained primarily from mine production by country and are up to date for 2020, as newer figures are not yet available.)
In the year 2020, China produced 380 tonnes of gold and had up to 2000 tonnes of gold in its reserves. China’s production accounted for about 11.7% of the total production of gold in the entire world.
Second on our list of top gold-producing countries is Australia, coming in at producing 320 tonnes of gold in 2020. Australia also has an incredible 9800 tonnes of gold in its reserves. Overall, Australia’s gold production accounted for about 9.9% of the total production of gold in the entire world.
Russia comes in third by producing 300 tonnes of gold in 2020, accounting for around 9.3% of the total production of gold in the world. Russia also has very significant gold reserves of around 5300 tonnes.
4. United States
Fourth on our list of top gold-producing countries is the United States, coming in at producing 190 tonnes of gold in 2020. The US also has around 3000 tonnes of gold in its reserves. Overall, the United States gold production accounted for about 5.9% of the total production of gold in the entire world.
Coming in fifth in gold-producing countries of the world is Canada, with 170 tonnes of gold produced in 2020. Canada also has around 2000 tonnes of gold in its reserves. Overall, Canada’s gold production accounted for about 5.2% of the total production of gold in the entire world.
Together, China, Australia, Russia, the United States, and Canada produced a total of 42% of all the gold produced in the world in 2020. That is a highly significant figure and accounts for almost half of the entire gold production in the world!
Some other countries that didn’t make the list but produce high quantities of gold are Ghana, Indonesia, Peru, Kazakhstan, and Mexico.
The Most Reliable Gold and Silver Investment Company
Orion Metal Exchange is one of the best gold and silver investment companies. We ensure complete transparency in our online product pricing, provide IRA investment services, and can assist you in determining which precious metal investment is right for you.
Get in touch with us to learn about investing in precious metals, gold reserves, and more.