Throughout history, gold has been recognized as a highly prized and esteemed metal. Its enduring value has been demonstrated time and time again, making it a sought-after commodity around the world. In the past, South Africa was renowned for its vast gold reserves, but in recent years, other nations such as China, Russia, Australia, and the United States have surpassed them in terms of gold production and reserves.
Investors often turn to gold during times of geopolitical crisis due to its rarity and ability to serve as a safe haven. Unlike currency, gold has a long-term storage value and is not subject to inflation, making it an effective hedge against economic uncertainty. Its historical value as a symbol of wealth and prestige has also contributed to its continued popularity as an investment option.
The element gold is quite rare, accounting for just 0.001 to 0.006 parts per million of the earth’s crust. It’s a precious metal that has been sought after for centuries due to its beauty and durability. However, it’s important to ask ourselves how much gold is being extracted from the earth each year and which countries are the top producers of this valuable resource.
Largest producers of gold in the world, 2023
| Rank | Country | Gold Production (tons) |
|---|---|---|
| 1 | China | 420 |
| 2 | Australia | 330 |
| 3 | Russia | 310 |
| 4 | United States | 200 |
| 5 | Canada | 180 |
| 6 | Indonesia | 160 |
| 7 | Peru | 130 |
| 8 | Ghana | 130 |
| 9 | Mexico | 110 |
| 10 | South Africa | 101 |
| 11 | Uzbekistan | 100 |
| 12 | Kazakhstan | 100 |
| 13 | Sudan | 93.1 |
| 14 | Brazil | 85 |
| 15 | Argentina | 72 |
| 16 | Guinea | 71 |
| 17 | Papua New Guinea | 70 |
| 18 | Colombia | 65.23 |
| 19 | Mali | 60.08 |
| 20 | Burkina Faso | 50 |
| 21 | Tanzania | 48.2 |
| 22 | Dr Congo | 39 |
| 23 | Philippines | 38.6 |
| 24 | Chile | 38.5 |
| 25 | Turkey | 37.79 |
| 26 | Zimbabwe | 33.20 |
| 27 | Suriname | 32.79 |
| 28 | Ivory Coast | 32.4 |
| 29 | Dominican Republic | 31.8 |
| 30 | Guyana | 25.5 |
| 31 | Mongolia | 16.3 |
| 32 | Togo | 16 |
| 33 | Mauritania | 15.1 |
| 34 | Egypt | 14.9 |
| 35 | Nigeria | 14.2 |
| 36 | Panama | 11 |
| 37 | Senegal | 9 |
| 38 | Sweden | 8.1 |
| 39 | Tajikistan | 8.1 |
| 40 | New Zealand | 7.8 |
| 41 | Finland | 7.7 |
| 42 | Japan | 7.1 |
| 43 | Namibia | 6.6 |
| 44 | Zambia | 5.9 |
| 45 | Guatemala | 5 |
| 46 | Bulgaria | 5 |
| 47 | Saudi Arabia | 4.3 |
| 48 | Armenia | 4.2 |
| 49 | Spain | 3.6 |
| 50 | Ecuador | 3.5 |
| 51 | Uganda | 3 |
| 52 | Georgia | 3 |
| 53 | Azerbaijan | 2.79 |
| 54 | Malaysia | 2.12 |
| 55 | Honduras | 1.9 |
| 56 | Solomon Islands | 1.8 |
| 57 | Cameroon | 1.7 |
| 58 | Fiji | 1.41 |
| 59 | India | 1.4 |
| 60 | Eritrea | 1.4 |
| 61 | Uruguay | 1.2 |
| 62 | Niger | 1.10 |
| 63 | Botswana | 1 |
| 64 | Greece | 0.8 |
| 65 | Gabon | 0.67 |
| 66 | Serbia | 0.6 |
| 67 | Poland | 0.5 |
| 68 | Morocco | 0.4 |
| 69 | Romania | 0.4 |
| 70 | Kenya | 0.2 |
| 71 | Afghanistan | 0.04 |
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