Where Is Gold Mined

One can travel centuries back, and gold would remain one of the world’s most precious and coveted metals deep into history. Back then, gold was rare and scarcely found. Hence, sanctity and value were a given. However, today even though gold is one of the most commonly occurring precious metals, we have yet to see an age where it loses its charm.

According to estimates made by global gold mine reserves, almost 3,200 metric tons of gold were produced in 2020 worldwide. With China leading as the greatest gold-mining country, followed by Russia and Australia, gold is produced and mined worldwide with places nothing short of a wonder for a common man.

Therefore, we have compiled a list of the top seven places where gold is mined. Let’s take a look at the golden chambers that produce gold.

1. South Deep gold mine, South Africa

With almost 33 million ounces worth of gold being mined, the South Deep gold mine is the world’s largest gold mine by reserves. It is placed seventh on the world’s deepest mines list with a scary drop of approximately 3000m below the ground surface. It was also known as Western Areas Gold Mine until the early 2000s, thanks to its location southwest of Johannesburg in Witwatersrand Basin, South Africa. However, the mining operations dating back to even before the 2000s, going back as early as the 1960s. The mine’s life expectancy suggests it is sure to carry on till 2092.

2. Pueblo Viejo gold mine, Dominican Republic

Owned by Pueblo Viejo Dominicana Corporation (PVDC), it is one of the gold mines to have recently come into existence. A 60-40 shareholding venture of big names in the gold industry, i.e., Barrick Gold and Newmont Goldcorp, Pueblo Viejo, is located 100km northwest of Santo Domingo in the Dominican Republic. The mining production started in 2013 with the mine being drafted as an open-pit that takes its resources for two major oxide deposits: Monte Negro and Moore, besides the other three smaller ones. With an estimated life of 25 years, Pueblo Viejo has a long time to go and collect average gold production numbers going up to 500,000oz.

3. Cortez gold mine, USA

One of the most popular gold mines of the world, the Cortez gold mine, is owned and operated by none other than Barrick Gold. Located in Lander County, Nevada, it is known to have 8.7Moz of contained gold. With a high probability of exploring more reserves, the mine is said to continue its life for a long period in the future. Even though it is one of the oldest mines to have started back in 1969, the mine is still going strong today. Furthermore, the open-pit mine collects its gold from both open-pit and underground mining methods by twin declines.

4. Boddington gold mine, Western Australia

Newmont Goldcorp operates the Boddington gold mine. It first started its operations back in 1987 with conventional extraction of shallow oxide ores, leading only 70m deep. However, it was placed under care and maintenance in 2001, and the commercial production through the Boddington gold mine restarted after almost a decade in 2009.

With a life expectancy of 20 years, the mine has continued to produce whopping amounts of gold, leading up to almost 700,00oz in 2018.

5. Olimpiada gold mine, Russia

Located in the Eastern Siberian region of Russia and operated by Polyus Gold, Olimpiada is one of the most popular gold mines in the world. Started operating back in 1996, Olimpiada is a gold mine that is considered the Russian alternative to American mines, creating a battleground in the gold industry. The Russian gold pit utilizes conventional open-pit mining methods with trucks and shovels that transitioned to autonomous machine operable mining in 2019.

6. Lihir gold mine, Papua New Guinea

In 1997, the Lihir gold mine was owned by the Lihir Gold Limited (LGL), which merged with Newcrest Mining in 2010. Currently operated by the same merger party, the Lihir gold mine is located in the New Ireland Province of Papua New Guinea. The mine made its name amongst the world’s gold industry by producing a whopping 930,000oz gold in 2019. Moreover, it is expected to increase this number to 1Moz in coming years.

7. Norte Abierto gold mine, Chile

Located in the Atacama region of Chile, this one is also a half and half joint venture between Barrick Gold and Newmont Goldcorp. It is considered an ongoing development open-pit mining project with an estimated 24Moz of potential gold reserves. Cerro Casale and Caspiche, the mine, will soon undertake the Maricunga Gold Belt of Chile for project expansion.

Our Final Thoughts

As you must have noticed that gold mining is a centered and mostly monopolized business. Many major industry corporations rule the mining market as they tend to acquire mining areas under joint ventures, mergers, and acquisitions. All in all, whether you are a gold jewelry collector, or simply an enthusiast, now you know where your gold comes from thanks to these amazing wonders of gold mining spread worldwide.