Mining industry exists in many
countries. While exploration and mining can be conducted by individual
entrepreneurs or small businesses, most modern-day mines are large
enterprises requiring large amounts of capital to establish. 'mining
industry' is actually two sectors, one specializing in exploration for
new resources and the other in mining those resources. The exploration
sector is typically made up of individuals and small mineral resource
companies, called "juniors", which are dependent on venture capital. The
mining sector is made up of large multinational companies that are
sustained by production from their mining operations. Various other
industries such as equipment manufacture, environmental testing, and
metallurgy analysis rely on, and support, the mining industry throughout
the world.
There are different methods by which gold mining companies are
ranked. One is by their annual production. Another is by their cash cost
per ounce, that is, how much money it costs them to mine the gold.
Since gold prices are the same everywhere, companies with lower costs
per ounce make more profit. The most common method lists by market
capitalization which considers the total value of capital holdings by
that company. Also considered when comparing companies is their market
capitalization per ounce of gold equivalent (sometimes abbreviated
MV-GEO, EVO if the enterprise value is used) which takes the market
value and total reserves and resources for each company as well as the
price of gold into consideration.
With GFMS now reckoning that the pent-up growth in global gold output may well have peaked last year with the various big, and small, new gold projects in the pipeline having mostly now reached full capacity, we could well see some further production downturns from some of the big miners this year, although their financial positions could be improving regardless given the recent concentration on cutting all-in costs – aided in many cases over the past year by the big fall in oil prices and the strength of the U.S. dollar.
Among the top producing companies, there have been some substantial gold output drops from the biggest miners, mainly due to divestments and closures – see table below.
Here is the list of the world Top Ten Gold Miners 2013 / 2014 (tonnes)
( Source GFMS )
With GFMS now reckoning that the pent-up growth in global gold output may well have peaked last year with the various big, and small, new gold projects in the pipeline having mostly now reached full capacity, we could well see some further production downturns from some of the big miners this year, although their financial positions could be improving regardless given the recent concentration on cutting all-in costs – aided in many cases over the past year by the big fall in oil prices and the strength of the U.S. dollar.
Among the top producing companies, there have been some substantial gold output drops from the biggest miners, mainly due to divestments and closures – see table below.
Here is the list of the world Top Ten Gold Miners 2013 / 2014 (tonnes)
( Source GFMS )
| RANK | COMPANY | OUT PUT 2013 | OUT PUT 2014 | CHANGE Y/Y |
| 1 | Barrick Gold | 222.9 | 194.4 | - 13% |
| 2 | Newmont | 157.5 | 151.2 | - 4% |
| 3 | AngloGold | 127.7 | 136.9 | + 7% |
| 4 | Goldcorp | 82.9 | 89.3 | + 8% |
| 5 | Kinross | 77.7 | 80.4 | + 3% |
| 6 | Navoi (Uzbek) | 70.5 | 73.0 | + 4% |
| 7 | Newcrest | 73.5 | 72.0 | - 2% |
| 8 | Gold Fields | 58.1 | 62.6 | + 8% |
| 9 | Polyus Gold | 51.3 | 50.8 | - 1% |
| 10 | Sibanye Gold | 44.5 | 50.1 | + 13% |
1. Barrick Gold Mining
Barrick Gold Corporation is the largest gold mining company in the
world, with its headquarters in Toronto, Ontario, Canada. Barrick is
currently undertaking mining projects in Argentina, Australia, Canada,
Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the
United States and Zambia.
2. Newmont Mining
Newmont Mining Corporation, based in Greenwood Village, Colorado,
USA, is one of the world's largest producers of gold, with active mines
in Nevada, Indonesia, Australia, New Zealand, Ghana and Peru. Holdings
include Santa Fe Gold, Battle Mountain Gold, Normandy Mining,
Franco-Nevada Corp and Fronteer Gold. Newmont also has many joint
venture relationships. As of the third quarter of 2014, Newmont was the
world's second-largest producer of gold, behind only Barrick Gold
Anglogold was the world's third-largest producer of gold, behind
Barrick Gold and Newmont Mining. AngloGold Ashanti Limited is a global
gold mining company. It was formed in 2004 by the merger of AngloGold
and the Ashanti Goldfields Corporation. AngloGold Ashanti Limited is now
a global gold producer with 21 operations on four continents. The
company is listed on the New York, Johannesburg, Accra, London and
Australian stock exchanges, as well as the Paris and Brussels bourses.
4. Goldcorp Mining
Goldcorp is a gold producer headquartered in Vancouver, British
Columbia, Canada. The company employs about 11 300 people
worldwide,engaged in gold mining and related activities including
exploration, extraction, processing and reclamation. Goldcorp’s
operating assets include five mines in Canada and the U.S., three mines
in Mexico, and two in Central and South America. As of the third quarter
of 2014, Goldcorp was the world's fourth-largest producer of gold.
5. Kinross Gold Mine
Kinross Gold Corporation the Canadian-based gold mining company
with mines and projects in the United States, Brazil, Chile, Russia,
Ghana and Mauritania. Kinross began from the amalgamation of three
companies in 1993, initially owning a mine in British Columbia and
royalties on a mine in Nevada. Following a series of take overs and
mergers, Kinross owns ten active gold mines on four continents
6. Navoi Mining
Navoi Mining & Metallurgy Combinat JSC engages in the mining and processing of gold and uranium in Uzbekistan. Navoi Mining is one of the largest Uzbek companies involved in the mining industry being among the top ten largest uranium and gold producers in the world. The most important ore deposits of the company are located in the Kyzyl Kum Desert.
6. Navoi Mining
Navoi Mining & Metallurgy Combinat JSC engages in the mining and processing of gold and uranium in Uzbekistan. Navoi Mining is one of the largest Uzbek companies involved in the mining industry being among the top ten largest uranium and gold producers in the world. The most important ore deposits of the company are located in the Kyzyl Kum Desert.
7. Newcrest Mining
Newcrest Mining Limited is an Australian-based corporation which
engages in the exploration, development, mining and sale of gold and
gold-copper concentrate. It is Australia's leading gold mining company
and its operations have expanded beyond Australia, for example
Indonesia, thus becoming a prominent international mining corporation.
Newcrest’s primary gold and copper production in Australia is at
Ridgeway (Cadia Valley Operations), Telfer, Cadia and Cracow and in
Indonesia at Gosowong.Past and present exploration was done in the
Americas, Asia and Europe. As of the third quarter of 2014, Newcrest was
the world's sixth-largest producer of gold.
8. Gold Fields Mine
Gold Fields Limited is a South African gold mining firm, one of
the world’s largest, which is listed on both the Johannesburg Stock
Exchange (JSE) and the New York Stock Exchange (NYSE). The company is
headquartered in Johannesburg, South Africa. It owns and operates mines
in South Africa, Ghana, Australia and Peru. The firm was formed in 1998
with the amalgamation of the gold assets of Gold Fields of South Africa
Limited and Gencor Limited.
9. Polyus Gold Mine
9. Polyus Gold Mine
Polyus Gold International is the largest gold producer in Russia
and one of the top 10 gold miners globally by ounces produced . The
company holds over 90 million ounces of gold reserves . The company's
principal operations are located in Russia’s most prolific gold mining
provinces in Eastern Siberia and the Far East and include 5 operating
mines, alluvial operations and several advanced development projects.
10. Sibanye Gold Mining
Sibanye Gold Limited is a proudly South African gold mining
company with three principal operations, namely Kloof and Driefontein in
the West Witwatersrand region and Beatrix in the Free State. Sibanye
Gold is the largest producer of gold in South Africa and amongst the top
ten largest gold producers globally.
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