Top Gold Mining Companies

Gold is strongly associated with emotional, financial, and cultural values. This precious metal is brought by people from different communities for varied reasons after being influenced by a range of national socio-cultural beliefs. After the 1970s, the quantity of gold production has tripled. Gold is diversely used by central banks and investors that have prominently driven the global economic cycle. The largest part of the gold supply is fulfilled through mine production by 75%.

Gold Mining

The global business of goal is present in every continent except Antarctica. In 2006, China was the largest gold producer with a contribution of 14% to the total global production. The gold mining process and related activities aren’t quick responsive to price changes. However, recycling of gold becomes a great source of gold as well as an immediate response to price and economic shocks. 

Almost 90% of gold is recycled from ornaments. The global demand for gold reached 4,356 metric tonnes in 2019. Gold mining operations are considered as the major economic driver as it has created employment and business opportunities. 

Collective mining is a company that is continuously involved in advancing the exploration of gold on a large scale with a principled approach. Cnl.v is responsible for discovering, permitting, constructing, and selling the largest gold mine in Columbia to Zijin Mining. In this way, mining companies are driving the economy to ensure efficient production.

Gold Mines

The gold mining companies have strengthened the strategy for economic growth. These companies act as a major source of income with a crucial role in sustainable socio-economic development. The gold mining companies have contributed over US$171.6 billion to the global economy in 2013. You should know about the top gold mining companies that are significantly rendering to gold production given as follows:-

 

• Newmont Corp.

 

Revenue-US $11.487 billion (2020)

It is the world’s largest gold mining company that was incorporated in 1921. In 2020, this Colorado-based company has obtained around 5.8 million ounces of metal. This company is a producer of copper, silver, zinc, and lead as well. The portfolio of Newmont included critical operations in North America, South America, Australia, and Africa. 

 

• Barrick Gold Corp.

 

Revenue-US$12.6 Billion (2020)

The company has been the world’s largest gold producer until Newmont Corp. acquired Goldcorp. In 2020, this Toronto headquartered company produced 4.76 million ounces of gold with the outputs falling by 13%. Barrick gold is a producer of both gold and copper with 16 operating sites in 13 countries. The company followed a merger with Randgold in a deal of $6.5 billion in 2019.

 

• AngloGold Ashanti Ltd.

 

Revenue- US$ 4.4 billion (2020)

This global gold mining company was formed with the merger of AngloGold and Ashanti Goldfields Corporation in 2004 that produces Silver and Sulfuric acid as well. The company is operating in four continents. AngloGold Ashanti is a South Africa-based company that produced 3 ounces of gold in 2020 which was a 7% decline from the previous year’s production. The company is the largest producer in Africa and claims to be the most sophisticated and technologically advanced.

Conclusion

The World Gold Council’s Members are operating in economically weaker countries to develop healthcare services. Gold production significantly contributes to driving economic growth efficiently.  The mining companies not only focused on production but they greatly contributed to social activities, infrastructure, and healthcare.