11/14/2022 0 Comments Mars miner 2 map![]() How Gold Royalties Offer Inflation-Resistant Gold ExposureĪs rising inflation has increased the operational expenses of gold mining companies, gold royalty companies have emerged as an inflation-resistant alternative for investors seeking exposure to the precious metal. With inflation rates hitting decade-highs in several countries, gold mining could be a sector to watch, especially given gold’s status as a traditional inflation hedge. For every ounce of gold produced in 2020, gold miners pocketed $828 on average, significantly higher than the previous high of $666/oz set in 2011. That’s good news for gold miners, who achieved record-high profit margins in 2020. The price of gold is up by around 50% since 2016, and it’s hovering near the all-time high of $2,000/oz. Polyus was also recently crowned the biggest miner in terms of gold reserves globally, holding over 104 million ounces of proven and probable gold between all deposits. Olimpiada, owned by Russian gold mining giant Polyus, holds around 26 million ounces of gold reserves. Grasberg is not only the third-largest gold mine but also one of the largest copper mines in the world. Only two other mines-Grasberg and Olimpiada-produced more than 1 million ounces of gold in 2021. Muruntau represents over 80% of Uzbekistan’s overall gold production. Uzbekistan’s state-owned Muruntau mine, one of the world’s deepest open-pit operations, produced just under 3 million ounces, making it the second-largest gold mine. The resulting joint corporation, Nevada Gold Mines, is now the world’s largest gold mining complex with six mines churning out over 3.3 million ounces annually. In 2019, the world’s two largest gold miners-Barrick Gold and Newmont Corporation-announced a historic joint venture combining their operations in Nevada. Share of global gold production is based on 3,561 tonnes (114.5 million troy ounces) of 2021 production as per the World Gold Council. Together, they accounted for around 13 million ounces or 12% of global gold production in 2021. The 10 largest gold mines are located across nine different countries in North America, Oceania, Africa, and Asia. The percentages slightly differ from those calculated by S&P. The above infographic uses data compiled from S&P Global Market Intelligence and company reports to map the top 10 gold-producing mines in 2021.Įditor’s Note: The article uses publicly available global production data from the World Gold Council to calculate the production share of each mine. Gold mining is a global business, with hundreds of mining companies digging for the precious metal in dozens of countries.īut where exactly are the largest gold mines in the world? #Mars miner 2 map freeSign up to the free mailing list to get beautiful visualizations on natural resource megatrends in your email every week. The 10 Largest Gold Mines in the World, by Production ![]()
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