With a worth of over $2,000 per ounce, Gold remains one of the most expensive minerals in the world. This mineral has been discovered in several countries and continents of the world and Africa hasnt been left out.
Gold mining in Africa is seemingly dominant in the western region of the continent, but it is also spread across southern and eastern Africa. So, if you are wondering what countries in Africa have the richest gold mines? Here are the top five African countries with the richest Gold mines.
The Gold Coast during the British colonial days is currently a part of Ghana, so it is not surprising that this country is rich in gold. Ghana is currently the African country with the richest gold mines following the 2020 data. It used to come under South Africa as the second highest producer of Gold until 2019. There are gold mines in the Ashanti region and the Central region of the country.
The entire mining industry of Ghana made up 5% of the countrys gross domestic product, and gold dominates that industry. Gold is the primary focus in the industry and the country is responsible for mining about 142 tons of gold, topping foreign countries like Mexico and Brazil. This is not surprising as top companies operate Ghanas gold mines. Ghana does not have only the richest gold mines in the whole Africa, it is also one of the few African countries with the highest acceptance of mobile money payments.
Currently, the country has produced about 118 tons of gold. Not to mention, South Africa has the deepest gold mines in the world. This includes the TauTona Mine, the East Rand Mine, and the Mponeng Gold Mine. These mines have a depth of 3.9 km, 3.6 km, and 4 km respectively; they are all popular globally.
Gold mining in South Africa has contributed majorly to the countrys gross domestic product (GDP) over the years. Significantly, it saw the GDP rise to R360.9 in 2019 from R351 billion in 2018. It has created jobs with over 95,000 workers in the South Africa gold mining industry, although this figure has deteriorated compared to its peak years. Gold is also one of the most popular assets in South Africa that is regularly traded via Forex Brokers operating in SA.
The Sudan gold mining industry took Africa by surprise. Notably, theres gold in the Eriab region and Northern region of the country amongst others. They are responsible for producing 76.6 tonnes of gold.
This was the first of its kind in the country and with a production capacity of up to 900kg of Gold daily, it wasnt long until mining activities in the country skyrocketed. Sudan boasts more than 40,000 gold mining sites, which are being operated by over 60 companies.
Burkina Faso is one of the countries in West Africa where gold mining is a serious business. The country might be seen as one with limited resources, but in recent times, the exportation of gold has been a prominent revenue source, which shows the increase of mining activities.
The West African country produces up to 62 tonnes as of 2019 and just like Sudan, the country took Africa by surprise. Burkina Fasos appreciation in gold mining began just after the hay days of South Africas gold mines as gold has been discovered majorly in more than 15 locations since 2006.
Mali recorded 61.2 tonnes of mined gold in 2019, making it the current 5th African country with the richest gold mines. The country used to rank higher; in fact, at its relative peak in 2013, more than 67 tonnes of gold were exported.
The dominant gold mine in the country is the Sadiola Gold Mine, which is located in the Kayes Region. Likewise, they also have the Hassai Gold mine located in the north-eastern part of Mali. These mines are co-owned by various individual companies and the Malian government.
Statistics from Statista shows that total gold mine production in Africa is estimated to reach 730,000 kg by 2021 from 660,000 kg in 2017. This implies that the gold mining industry in Africa is very active, and weve uncovered the countries that partake mostly in this activity.
All that glitters is not gold, but fear not: theres plenty of gold to go around. Much of the wealth is distributed unevenly, however, and gold production varies widely among different nations. From relative unknowns like Uzbekistan to long-time champs South Africa, gold production of dozens of tons per year is not unheard of in the most gold-rich nations. This sample of gold producers starts at number ten, Uzbekistan, until the surprise grand champion nation which produces almost four times as much.
Uzbekistan is one of only two doubly landlocked countries in the world, but that doesnt mean its short on precious resources (though they might have a tougher time shipping them!). Coming in at number 10 on our top ten biggest gold producing countries in the world is Uzbekistan, producing 90,000 kg of gold per year. Much of the countrys gold is nationalized, and owned by Navoi Mining and Metallurgial Combinant mine. While Uzbekistan is at the bottom of our top ten list, it does boast the biggest open-pit mine in the world, which is the Murutau mine. Gold isnt the only precious resource that Uzbekistan is known for. It also boasts impressive reserves of copper, molybdenum, silver, and uranium.
While Uzbekistan claims the largest open-pit mine in the world, the record for the largest gold mine on the planet, belonging to Indonesia, is Grasberg. This mine employs 19,000 workers. Unfortunately, its also considered one of the worlds most toxic locations. This mine releases 1,000 tons of mercury into the atmosphere every year, in addition to producing 100,000 kilograms of gold. In fact, the people who live near this mine consume fish that contain twice the recommended amount of mercury, meaning that its an extremely unhealthy process for the people of the area.
Once known as the Gold Coast for the abundance of metals, Ghana produced 100 tons of gold in 2011, though its supplies are diminishing as there are only an estimated 1,400 tons in reserve. Ghanas gold mining industry makes up 5% of the countrys GDP, and minerals are 37% of the nations exports. Ghana is second on the list of largest gold producing countries in Africa, behind South Africa.
Oh Canada, land of snow, oil, and precious metals. The majority of Canadas gold is from Ontario, specifically Red Lake gold mine. Canada is so patriotic about its gold, in fact, that if you have a few hundred dollars laying around, you can get yourself a Canadian gold coin for several hundred dollars! Get them while you can, because the Canadian gold mines are among the smallest in the top ten list of highest gold producing countries.
Peru is the largest producing gold country in Latin America, and only second in the Americas to the United States. While the country is bringing in some certain money from gold profits, the price of gold mining has negative impacts on the environment. Mining in Peru has increased by 400% in the past decade, which means that a huge toll has been taken on the Peruvian Amazon. The problem with Peruvian gold mines is that many of them are located at the top of mountains, and the mountains and land in the surrounding area are affected by the mining processes.
The number one gold producing country in the entire content of Africa is South Africa, coming in at 190,000 kilograms per year. Perhaps the most amazing thing about South Africas gold mining is that there is still more than 6,000 tons left to be uncovered. In fact, until 2006, South Africa was considered the largest producer of gold on the planet, and while theres some lagging behind these days theres room for catching up. Gold mining in South Africa has been the biggest driving force behind the countrys participation in the global economy. An 1886 South African gold rush led to the establishment of Johannesburg, the biggest city in the country today.
With roughly of the worlds landmass, it is not surprising that Russia would be chalk-full of gold. Over 5,000 tons are still sitting, mostly untouched, in the far eastern reaches of Siberia and beyond, but Russia has also been steadily importing gold to feed its seemingly insatiable appetite for the shiny stuff: in 2012, it imported roughly 5% again of its then-reserves of over 900 tons of gold sitting in the bank. Whether sitting in the bank or under ground, Russia surely likes its gold.
Topping the Russians are their Cold War rival: the United States, the third-ranked producers of gold at current rates. While its mines are mostly in Nevada (nearby to Las Vegasa strange coincidence of shimmering city with shimmering metal) and Montana, most of its gold sits in vaults under New York City, Fort Knox, and elsewhere. Over 8,000 tons of gold are held in these vaults by the Federal Reserve and the Treasury Department; the totals are equivalent to 75% of total foreign reserves. The current high production figures are due to the reopening of once defunct mines in Montana as gold prices have spiralled up in recent years.
The miners down under have been working steadily under their barren soils to yield a massive haul and earn second place on the list with 270,000 kilograms of gold. Two thirds of the total comes from mines in Western Australia, based out of Perth. The largest open mine on the continent, named the Golden Mile, leads the nation in production of this valuable export, which earns Australia $14 billion per year. In addition to roughly 7,400 tons of unmined reserves, Australia holds around 80 tons of gold or 9.3% of its foreign reserves.
Topping this list as it tops so many others, China mines almost more than the next closest competitor. In addition to taking top honors as producer, China is the number one consumer of gold, befitting a country whose development has pulled hundreds of millions of people out of poverty. Most mines sit in Shandong Province, located midway between Beijing and Shanghai, and roughly one fifth of output is controlled by the China National Gold Group. Despite its vast gold mines, only 1,000 tons are held as reservea massive amount by most standards but a mere 1.7% of its foreign holdings. Over 1,900 tons are still sitting in the ground, although they are fast going: its annual pace has risen over 10% and seems, if anything, likely to pick up with higher gold prices.
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The envy of the world with much hesitation from a minority who can defecate laughing at such pomp...Gold has it place in society and technology, but the gist of it all is other resources, once underestimated by even the scientific class, are more valuable and important than gold. Let's merely consider the heaviest of elements, Uranium, or better yet, U-235 at 1 million a gram. That can do some convincing anywhere....
Its because the Federal Reserve( which by the way has nothing to do with the federal government) supplies the US with paper which is controlled by several wealthy people. It has been given the illusion of an unfaltering commodity through several decades of hard work and doing anything (including killing people mostly foreign leaders, stealing oil and resources from others and also using the rest of the world like slaves) in order to bolster the worlds largest economy and make it the envy of the world. That is why wherever you go around the world people will die for a dollar. Illusion is the most powerful tool along with compound interest. The worlds poorest nations borrow USD from the IMF and have to pay unfathomable interest rates that eventually cause majority of them to fail and a few to succeed. Pitting the poorest against each other. But hey if its accepted and legal even economic rape is not a crime its just capitalism!
Gold, not dollar reserve, is still the preferred form of foreign reserves. The U.S. dollar is just paper, overprinted by the government to create a false boom. But gold will always be gold even during recession.
And I thought California has the biggest gold mines in the U.S. along with Alaska. They didnt name it the Golden State for nothing. I guess the old folks should have gone instead to Montana or Nevada instead of trying their luck in the bitter cold of Alaska.
Yes it is a little known fact that Nevada produces 74% of all the gold in the United States. In 2013, they were the seventh largest producer in the world and in 2010, they were the fourth largest producer!
The old timers mined out the highest grade near surface lode deposits in California in the first gold rush. A second "technological" gold rush has enabled vast low grade reserves to be economically considered for mining. The gold in Nevada occurs as large underground deposits that are very low grade...not even visible by the naked eye. Due to these innovations in technology and metallurgy, gold that was considered too low grade in the 1800's is now profitable today.
I'm not surprised that Australia is the second largest of the gold producing countries. I recently watched a excellent documentary on a long lost ship wreck off the coast of Wales. The ship was carrying millions worth of Australian gold, to bad I don't like deep sea diving.
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Why is the production of gold so important? What are the trends and the economic influences that drive production and also price? To understand the first question we have to understand the demands for gold. Gold has commercial demand that it is fashioned into jewelry but also a financial demand as it is used to manage risk in financial portfolios and to protect the wealth of many. It also has peripheral uses in technologies such as the smartphone.
China produces more gold than any other country in the world. Asia as a whole produces 22% of the worlds total production. Central and South America account for 17% with North America contributing 15%. Africa produces 20% and the former Soviet Union C.I.S region 14%. Amazingly, gold recycling accounts for one third of the total production.
In 1990 the Chinese Government passed laws making it easier to buy gold. As a result, demand rose, as did investment in bars and coins. Today, China produces 440 metric tons of gold every year, more than anywhere else in the world. Another factor that may be responsible for the demand of gold is the growth of wealth in China. Since 1980 an increase of 20% of the population of China chose to live in urban areas. As the wealth per capita increased so did the demand for gold. Most of the gold that is produced in China remains in the country. Prior to China grabbing the top spot, South Africa used to be the world's largest production of gold. However, increased complications and costs linked to gold mining in South Africa has caused gold production in the country to decrease. South Africa is now the world's sixth largest producer.
Although China produces more gold than any other country, its reserve size is not that large in relation to other countries. Mines are found all over the country, with the city of Zhaoyuan, Shandong, called "the official city of gold" because of its large-scale gold production.
The history of commercial gold mining in Australia dates back to at least the mid-1800s, when the first of the Australian gold rushes occurred. Today, Australia is the world's second-largest gold producing country, with about 300 tons produced by Australia every year.
Despite the country's high position, it is estimated that the majority of the gold reserves in Australia are not accessible and therefore cannot be mined for commercial purposes. Gold reserves are found virtually all around the country, with a particular number in the states of New South Wales, Queensland, and Western Australia. The largest gold reserve in Australia is the Boddington gold and copper deposit outside of Perth, Western Australia.
As the largest country in the world, and one of the countries with the most natural resources, it does not come as a large surprise that Russia is among the world's most important gold producers. Russia's annual gold production is 255 tons. There are a number of minerals where Russia ranks among the world's top producers, including silicon, aluminum, and copper. The majority of Russia's gold production happens in the Far East of the country and in Siberia. Over the past ten years or so, gold production in Russia has been rising steadily.
The most important part of US gold mining history may be the California Gold Rush, but gold mining in the United States dates back to at least the 1700s. Today, the United States is the world's fourth-largest gold producer. Nevada is the largest producer of gold of all the US states, followed by Alaska.
The largest gold mine in the United States is the Goldstrike mine in north-central Nevada. It is also the largest gold mine in North America. The second largest gold mine is the Cortez gold mine, also in Nevada. The mines produce around 32 and 28 tons, respectively.
Canada is the world's fifth largest gold producer, with 180 tons of gold produced annually. Similar to its neighbor to the south, Canada also experienced a Gold Rush of its own in the 1800s, particularly in the northern territory of Yukon.
A significant portion of the gold produced in Canada is harvested as a mining byproduct. Much of the country's gold is found in the Canadian Shield, a geological region found across the country. Gold was first discovered in Canada in the Eastern Townships of Quebec.
Those factors make gold mining in Ghana a pursuit with great potential. In fact, Southern Ghana has been considered one of the worlds most prolific regions for gold discoveries for some time, with both gold producers and explorers enjoying success there.
As mentioned, Ghana also stacks up in terms of production in 2018, it produced 180 tonnes of the precious metal. Read on to learn more about Ghana gold mining, from the economic and political landscape to some of the companies that operate there.
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Ghana is classified as a lower- to middle-income economy that is well endowed with natural resources. The country has seen strong economic growth recently its GDP grew 6.3 percent in 2018. Aside from the yellow metal, the country also exports resources such as cocoa, oil, timber, electricity, diamonds, bauxite and manganese; they are all major sources of foreign revenue.
Ghanas Minerals and Mining Act came into effect in 2006, and underwent improvements in 2014 to address an ongoing problem in the countrys mining industry: illegal gold mining. The Ghanaian government has had trouble with illegal small-scale gold mining, and those issues have put pressure on its relationship with China and caused trouble for its cocoa industry. The laws have been updated to criminalize illegal mining operations pursued by both Ghanaian citizens as well as foreigners.
The country is home to 23 mines, with a large portion of those being gold mines, which are operated by well-known companies both big and small; Newmont Goldcorp (TSX:NGT,NYSE:NEM) with its Akyem and Ahafo mines; Kinross Golds (TSX:K,NYSE:KGC) Chirano mine; and AngloGold Ashanti (ASX:AGG,NYSE:AU,OTC Pink:AULGF), which has committed to spending half a billion dollars on bringing its Obuasi mine back to production.
By the end of 2002, there were 12 large scale gold mining companies and at least 600 licensed small scale mining groups exploring Ghana. Today, the region boasts over 300 registered small scale mining groups and 90 mine support service companies.
Samuel Coetzer, former CEO of Golden Star Resources (TSX:GSC,OTCQB:GLNS), told the Investing News Network (INN) that both Ghanas exploration track record and the understanding of its geology is quickly improving.Theres no surprise for me that it would have yielded a lot of gold and that it will continue to do so, he added.
While the region is ripe with gold and more miners are benefitting from exploring and excavating its resources, there are still underlying factors that negatively affect the area and in turn mining in Ghana.
Chief Risk Officer Charles Dumbrille of In-D-Tel International spoke with INN, stating that Ghana is considered safer than the areas it borders, and is ahead in development, stability, the business community and infrastructure but on relative terms. He mentioned that Ghana still inhabits various challenges that miners and investors need to consider.
Galamseyers create dangerous working conditions that cause accidents on land granted to mining companies that have concessions or licenses, said Dumbrille, who added that the environmental impacts of unregulated and unmonitored galamsey activity gave the industry a poor reputation.
Due to the ongoing illegal mining that the region faces, the government has placed together a military-led initiative called Operation Vanguard in 2018. The initiative exists to crack down on galamsey activity, with 2,185 illegal miners arrested last year, though only 76 were convicted of a crime.
Chinas ambassador to Ghana has admitted that Chinese nationals continuously engage in illegal activities in the area, but places blame on the Ghanaian government, stating that it doesnt reach out to tell it when it has apprehended any of its citizens.
There are also some infrastructure concerns that Ghana faces, however, plans to fix this seems to be in place.Jeff Swinoga, EY Canada mining and metals leader, told INN that the government seems to be supporting an updated infrastructure in the region.
In terms of regulation, the government in Ghana created the Minerals and Mining Act in 2006 to replace the Minerals and Mining Law, which was created in 1986. In the updated act, the Minister holds the responsibility of maintaining overall management of Ghanas mineral resources and policy-making, which includes the grant of mineral rights.
The Minister is granted assistance by the Minerals Commission, which is responsible for day-to-day administration and is permitted to perform a variety of specific duties, including advising the Minister on matters relating to minerals policy and on the granting of mineral rights.
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In order to do this, the gold miner signed a number of agreements with the government in early 2018 that cover development, tax concessions, security and even reclamation security to clear the site of the galamseyers who had overrun the project.
Obuasi has the potential to add an average of 350,000 to 450,000 ounces to Ghanas gold production during its first 10 years in operation, with first gold expected by the end of this year. Several experts have alluded that there is very little evidenceto suggest Ghana will fall away.
Christopher Galbraith of S&P Global told INN that commercial production in the region appears to be on stable ground, stating,If Ghanas small producers continue producing at current levels, and South Africas gold sector doesnt pick back up dramatically (which is unlikely), then Ghana should continue occupying that top spot for some time.
Swinoga also stated that he believes the government in the regions is moving in the right direction, as it is supporting mining, and added that, with more attention on the country, new technology and investment in infrastructure will continue to support the increase of production levels.
Ghana also has an upcoming general election, which will take place in 2020. During this process, the president and members of parliament will be elected, meaning there could be policy developments as well as potentially populist promises.
In 2014, a windfall tax was put on hold due to the fact that the mining industry was stagnant. However, given that the government was considering introducing it to help with its deficit echoing similar approaches in other parts of Africa, though not on the same scale it could make a return.
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Large miners in the country have been producing impressive amounts of gold. Current big gold producers in Ghana with a market cap of US$200 million or more include Asanko Gold (TSX:AKG,NYSE:AKG) and AngloGold Ashanti. The former brought its Asanko gold mine into commercial production in April 2016. The latter wholly owns two gold operations in Ghana: Iduapriem and Obuasi. Iduapriem produced 228,000 ounces of gold in 2017, while Obuasi produced none as it is currently on care and maintenance.
The countrys largest mine, Tarkwa, is operated by Gold Fields (NYSE:GFI). Tarkwa, along with Damang, another of the companys West African mines, produced 254,000 ounces of gold in 2018, the mines highest production since its acquisition in 2004.
Another large company operating in Ghana is Newmont, which has two gold-producing mines there: Ahafo and Akyem. In January 2018 the miner was ranked 328 out of 500 on Fortunes list of most-admired companies.
Endeavor Mining (TSX:EDV) used to mine gold in Ghana, but in 2017 privately owned BCM International bought the companys Nzema mine in the country for US$65 million. The deal closed in December of that year. Nzema is located on the south end of the Ashanti Gold Belt, and produced 87,710 ounces of gold in 2016, down 20 percent from the year before. There was no gold production from this mine last year.
Perseus Mining (TSX:PRU,ASX:PRU,OTC Pink:PMNXF) began commercial production at its Edikan gold mine in January 2012. Average gold production is estimated at 214,000 ounces per year over the remainder of its life, which is set to end in 2024.
Major miner Kinross Gold holds a 90-percent interest in the Chirano gold mine in Ghana, while the government of Ghana owns the remaining 10 percent.The mine commenced open pit mining in late Q1 2019 and produced 226,699 gold equivalent ounces last year..
Golden Star Resources has a stake in the Wassa mine through a 90-percent held subsidiary; Wassa has mineral reserves of 1.32 million ounces at an average grade of 2.37 grams per tonne gold. The company also holds the Prestea mine, which has operated for over 100 years and produced 149,697 ounces of gold in 2018.
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This is one of the largest gold mines in Africa. Its operations are run by Goldfields. The mine resource capacity of gold for the mine goes up to 15.3 million ounces. And in its reserves, the estimated amount of the resource is about 9.9 million ounces of gold.
This mine is operated under open pit mining. It is located in the western part of the country, with an approximate distance of 25 miles to the south of the Bibiani gold mine. Operations of the mine began in the year 2005 by Red Back Mining, which later handed over to a subsidiary company known as Chirano Gold Mine Limited. The gold production of the mine stands at 3,800 kilograms per year.
The mines location is in the southern region of Ghana on the Ashanti Gold Belt. The mine is under the management of Endeavor Mining Company, with its mineral resource standing at about 33.7 million tons of 1.3g/t grade.
The mine is located about 15 miles south of the larger Tarkwa mines in the western part of Ghana. The mining activities are under the two major operations namely, the Teberebie and the Iduapriem operations, respectively.
The mine is found in the Obuasi within the region of Ashanti. It is also important to note that, this mine happens to be among the 10 largest gold mines in Africa. The mining activities date back to 1897, by AngloGold Ashanti. The mine is also regarded as the oldest there is in Ghana, where it concerns gold mining.
The mine is run under open pit mining. It is located about 45 miles northeast of Tarkwa, with an estimated distance of about 120 miles from Accra in the Birimian Province. The mine is believed to host about 20 million troy ounces of gold reserves, and has been operational since the early 1990s.
Apart from the mines stated to be active in Ghana, there are several others which are under construction in order to maximise the production of gold in the country. Additionally, small-scale artisanal miners prospect for small amounts of gold all throughout the country. The mineral resources in this country are not just exceptionally rich, but also very vast and cover a large area.
Recently toppled by Ghana our Southern Neighbor is long been known to be the largest producer of gold in Africa. Its operations in gold mining begun in the 1880s when gold was first discovered in Witwatersrand area in the Gauteng Province. This discovery led to a gold rush in the area; as a result many more places were discovered for gold mining. Such mines that followed after include the following.
The gold mine is found in Boksburg, a city located in the eastern part of Johannesburg. It is one of the deepest gold mines in Africa, about 11,700 feet deep. This mine has been operational since 1893 with very high production of gold of about 80,000 ounces per year. But it has experienced some reduction in gold production over the years.
The mine is found in Carletonville, yet another high-quality gold producing mine. However, the mine is shallower than the East Rand Mine. It is located in the vicinity of Johannesburg just like the East Rand Mine. It has been conducting mining activities since 1962, producing about 190,000 ounces of gold each year.
The mine is in Westonaria, yet another famous place known for gold mining. But its operations are anticipated to cease by the year 2033 due to some challenges faced with mining in the region. But before that time can come, the mine has a huge potential to continue being among the top gold producing mines.
This gold mine has been the second-largest open-pit gold mine in the country. It is located in the Shinyanga region on the southeast part of Kahama. Its operations are run by Acacia Mining when it was commissioned in 2009. And five years later, the mine was able to produce about 719,000 ounces of gold.
The mine runs operations through underground mining. Its location is about 40 miles south of Lake Victoria in Shinyanga region. Likewise, the Acacia Mining Plc. also runs its operations. The mine is expected to remain operational up to 2016 due to its gold availability potential.
This is another famous gold open pit mine. It is located about 15 miles southeast of Lake Victoria in the District known as Geita. The operations of the mine are managed by the company, AngloGold Ashanti while producing reasonable amounts of gold annually.
This is yet another open-pit mine, with its operations being undertaken by Resolute Mining Limited. It is found in the region of Tabora, within Nzanga District. Prospecting activities for the mine began as early as 1989, before the actual official commencement in the year 1999.
The gold mining operations are done through open pit and underground mining. The mine is found in the northern part of Tanzania, in Tarime District of Mara region. Its operations were first initiated by Acacia Mining in 2002.
This mines location is about 150 miles from Bamako in the south. There are two major operations undertaken in this mine, namely open pit and underground operations, which are managed by Randgold Resources.
This is another open-pit mine found in the region of Kayes. Its location is about 20 miles north of the Sadiola and its mining activities began in 2001. The mine is also jointly managed by LamGold, AngloGold Ashanti and the government of Mali, respectively.
This country is also among the countries known to produce gold, in various locations. This is another country with vast gold-bearing areas that have not been exploited to any large degree as of yet. Below are some of the major mines that account for most of the current gold production.
The mine is located in the capital city of the country, about 40 miles northwest of Ouagadougou. The mine is believed to have about 6.5 million metric tons of gold, of which the grade is anticipated to be 1.6g/t grams per ton gold, as well as 2.7 metric tons of 1.2g/t gold grade. The mining operations are conducted by Banlaw Africa Limited.
It is located about 140 miles to the southeast of Ouagadougou, the capital city. The operations of the mine are jointly managed by the government of Burkina Faso with the shareholding of 10% and the Etruscan Resource, holding the rest of the shares.
The mine is located along the boundary of Sano and Oudalan provinces, which are about 250 miles northeast of the capital city. Its operations commenced in 2010 with a number of expansion projects finishing in 2013.
This is yet another gold mine operated under a joint venture between the government and Avocet. The mine began its operations in 2009, and its estimated mineral potential can take it up to 2027. The mineral resource for the mine is approximately 4.2 million ounces of gold with an average grade of 1.2 grams per ton.
Our country has been known for gold mining since the 13th century when the local settlers could extract the mineral from hills within their catchment areas of the kingdom. The following are the some of the mines hosted by the country.
The operation of the gold mine is known to have begun in the year 1890. The mine is located in Zvishavane district, Midlands Province in Zimbabwe. Its operations were first acquired by the Zimbabwe Mining Development Corporation in 1984 and later taken by its subsidiary, Kimberworth Investments. Underhand stopping method has been known to be the major way used to extract gold in this mine.
The Renco Mine is 100% owned by RioZim Limited. The mining rights are held through mining claims, a mining lease and a special grant covering a total area of 2 736 hectares. The mine is located in the South-East of Zimbabwe in Nyajena communal lands, approximately 75km southeast of Masvingo.
The mine is located in Nkayi of Zimbabwe, a District in Matabeleland on the northern part of the country which is about 75 miles west of Kwekwe town. The mining operations for gold extraction include the shrink stopping method and the underhand benching long hole open stopping method. This mine is known to process about 450 tons of gold ore.
This mine happens to be one of Zimbabwes biggest gold mines. Its location is about 10 miles southwest of the city known as Gwanda, the headquarters of Matabeleland the south Province located about 400 miles from Harare the capital of Zimbabwe. The mine is run by Caledonia PLC, and produces about 45,500 ounces of gold per annum. It is also anticipated that the production is likely to rise to 80,000 ounces by the year 2020, although that may be hindered by Electricity challenges the country is facing.
This country also cant be left out when one talks about gold mining in Africa. Although the country has few active mines, many others are still developing. Thousands of small-scale miners pan the rivers using primitive methods to recover fine gold. Below are some of the major mines in the country.
The mine carries out its operations in the northern part of guinea. The major method used in the production of gold in this mine is called the heap leach process. The mine is said to produce about 13.7 metric tons of gold of 2.6g/t grade
The mine is located within the confinement of Siguiri District in the northeast part of Guinea, the District in which the mine is found, is right on the bank of Niger River, the mine produces an approximate amount of 250,000 ounces of gold per year.
This mine is located in the central part of Guinea, which is about 350 miles towards the northwest of Conakry. The annual production for the mine stands at about 60,000 ounces of gold, with its resource about 5.07 tons at an average of 3.12g/t grade.
In the country of Ethiopia, not much of gold is produced. However, it is among the top ranking countries striving to increase gold production. Civil unrest over the past decades has limited serious interest by large mining companies to operate within Ethiopia. This is starting to change though, and there is great potential for serious mining in this country in the coming years. Its major active mines include.
This mine is located in the southern part of the country in Sidamo Province. The production of gold for the mine stands at 5 tons, per annum. Its operations are managed as a joint venture between the government and Midroc Company.
In this country, gold production is equally not as much, but it is ranked among the leading gold producing countries in Africa. It is said that there are several areas that have not been explored yet for gold mining in this particular country, yet has the potential to produce more gold. Its proximity to Ghana makes many believe that there are likely some large gold deposits that have yet to be found. Below are some active operations in Cote dIvoire.
It is located about 34 miles away from the border between Cote dIvoire and Mali. It is known as the largest gold mine in the country. It covers about one square mile, owned by Randgold Resources while carrying out operations through the subsidiary, the Societe Des Mines de Tongon. The mining operations are estimated to run up to 2021.
This mine is located about 25 miles from the city of Yamoussoukro. The mine is managed by the Cluff Gold which began its operations in 2009, leading to the production of about 20,000 ounces of gold per year.
This is another gold producing mine, which is located nearly 150 miles northwest of Abidjan, the capital of Cote dIvoire. Newcrest are the owners of the mining operations, producing an average of 150,000 ounces of gold annually when it was established in 2008.
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Gold is one of the rarest elements in the world, making up roughly 0.003 parts per million of the earths crust. But how much gold is the world digging up each year and what countries produce the most?
In 2019, global gold mine production was a reported 3,463.7 tonnes down one percent from the year prior and the first year-over-year decline in output since 2008. Gold production has remained relatively steady since 2010, raising the question Ive explored over the years have we reached peak gold?
The idea is that all the easy gold has already been discovered and explorers have to dig deeper to find economically viable deposits. For example, South Africa was once the top gold-producing country by far, digging upover 1,000 tonnes in 1970, but annual output has fallen steadily since. On the other hand, several nations have emerged in the last few years as growing gold producers.
As seen in the chart below, China takes the number one spot of global gold producers by a wide margin. The top 10 rankings saw a big shift in 2019 Russia took the lead over Australia to claim second, Indonesia fell off the list and Brazil joined the ranks as the tenth largest producer. Ghana also jumped ahead of South Africa to become the continents top producer.
For many years, China has been the top producing nation, accounting for 11 percent of global mine production. However, production fell from nearly 400 tonnes last year, representing the third consecutive year of declines. The downtrend is largely due to tighter environmental policies imposed by the government. For example, stricter control over the use of cyanide at gold mines forced several operations to cut back production.
A massive 83 percent of European gold comes from Russia, which has been increasing its production every year since 2010. Russia took the lead over Australia to become the worlds second largest producer mining 50 tonnes more in 2019 than the year prior. Who is the largest buyer of Russian gold? The Russian government, of course, which purchases around two-thirds of all gold produced locally.
Australia has posted seven consecutive years of increases in production, up by 4 percent in 2019. The minerals industry produces over half of Australias total exports and generates about 8 percent of GDP. Higher production at several mines and the ramp of projects such as Mount Morgans and Cadia Valley contributed to increased production.
American gold output fell by 11 percent in 2019, ending five consecutive years of growth. Twelve states produced the gold, worth about $8.9 billion and accounting for 6.1 percent of the global total. Around 78 percent of gold produced in the U.S. is from Nevada. If the state was considered a country, it would be number six on this list with 173.6 tonnes mined in 2019.
Canada has held the number five spot for three years now, even with a slight decrease in output in 2019. New projects in Nunavat, Yukon and Quebec are expected to support stronger output in 2020. Canadas gold mine production is estimated to grow by a compound annual growth rate of 2.7 percent from 2019 to 2023 to reach 7.6 million ounces.
Gold output fell for a fourth consecutive year in Peru largely due to crackdowns on illegal mining operations in the La Pampa region and lower grades at existing projects. Mining is a significant portion of Perus economy and accounts for over 28 percent of the regions total output.
Ghana is Africas largest producer of gold, beating out South Africa for the top spot in 2019, and is also known for its reserves of various industrial minerals. Industry majors such as AngloGold Ashanti and Gold Fields have shifted their focus from South Africa to Ghana where deposits are cheaper and easier to mine. The West African nation has around 1,000 metric tons of reserves and moved up to number seven on the list from 10 last year.
Once the top gold-producer in the world by a wide margin, South Africas gold mines have been slowing every year since 2008, with the exception of 2013 when production rose by a few tonnes. The nation is struggling with rising costs for electricity and labor, with many mines closing due to unprofitability. South Africa is, however, still home to the worlds deepest gold mine, the Mponeng mine, extending 2.5 miles underground.
Although production fell for a fourth consecutive year, Mexico remains a competitive gold source. Output has risen from just 50.8 tonnes in 2008 to over 130 tonnes in 2017, one of the largest increases in a nine-year span. Mexico is an attractive place for mining due to a relatively low cost of regulation. The 2019 slowdown is attributed to disputes between local communities and contractors.
Brazil produced 10 more tonnes of gold than the year prior to make the number 10 spot on this list. Illegal mining activity has risen sharply in the last five years in the heart of the Amazon rainforest. President Jair Bolsonaro has pushed the country to develop the Amazon economically and tap its mineral riches.
Ghana is Africas largest producer of gold, beating out South Africa for the top spot in 2019, and is also known for its reserves of various industrial minerals. Industry majors such as AngloGold Ashanti and Gold Fields have shifted their focus from South Africa to Ghana where deposits are cheaper and easier to mine.
South Deep gold mine is the largest gold mine in the world, by reserves. Located 45km south-west of Johannesburg in the Witwatersrand Basin, South Africa, South Deep is also the seventh deepest mine in the world, with a mine depth up to 2,998m below the surface
Barrick Gold. Barrick Gold (NYSE:GOLD) is one of the largest gold miners in the world, with operations in more than a dozen countries. BHP Billiton. BHP Billiton (NYSE:BHP) is a diversified resources company. Rio Tinto
Effective communications with all of the Chambers stakeholders member companies, mine employees, unions, government, regulators, investors, the media and others are and remain a central part of our remit.
Ongoing mining projects of more than US$1 billion are taking place in South Africa (PGM 69%; gold:31%), Guinea (bauxite and aluminium), Madagascar (nickel), Mozambique (coal), Congo (Kinshasa) and Zambia (cobalt and copper), Nigeria and Sudan (crude petroleum), Senegal (iron), and many others.
South Africa It is a nation with a huge, diverse mineral potential. It is notably world number one in the production of chromium, manganese, platinum, vanadium, vermiculite, and number two in the production of ilmenite, palladium, rutile and zirconium
This South American country has an estimated $14.3 trillion worth of natural resources. The United States. Mining is one of the primary industries in the United States. Russia. Russias total estimated natural resources are worth $75 trillion.
Ghana Ghana is Africas largest producer of gold, beating out South Africa for the top spot in 2019, and is also known for its reserves of various industrial minerals. Industry majors such as AngloGold Ashanti and Gold Fields have shifted their focus from South Africa to Ghana where deposits are cheaper and easier to mine.
The Democratic Republic of Congo has the largest diamond reserves on the continent. However, in 2018, production was around 16.390 million carats of diamonds. According to Kimberly Process statistics, production in 2019 was 6.335 million carats of diamonds.
One of the Dark Continents top gold mining countries, Ghana grabbed the top spot from South Africa after mining more than 142 metric tonnes of the precious metal in 2019. The minerals mined in Ghana account for 37% of the countrys total exports, with gold comprising 90% of total mineral exports
Minerals are natural elements or combinations of natural elements that occur in the environment. Minerals (such as iron and copper) are often valuable resources that are extremely important to man in the making of the things that he needs, while some minerals (such as diamonds) are ornamental. Most minerals are found in the soil, making them a part of the topography of the environment.
Some minerals (like uranium) are very valuable because they can be harnessed into weaponry, while others (such as lithium) are used as power sources. It is an accepted custom to exclude crude oil when listing minerals, and so this list excludes African countries whose main natural resource is petroleum.
The following information is a compilation of African Countries with the largest deposits in solid minerals. We want to know what countries, as a matter of natural endowment, have potentially self-sustaining wealth hidden in the ground just waiting to be tapped. Without any further ado, we now give you the top 10 African countries by mineral deposits.
The Niger Republic is a West African country that is rich in uranium, coal, cement, and gold. This country has is the site of one of the largest underground mines in the world. In that mine, uranium is extracted. It is, therefore, no surprise that uranium brings in the biggest chunk of Nigers national income. Niger supplies 44% of African uranium all over the world. Being a naturally radioactive mineral, uranium is useful in generating nuclear energy, and yes, nuclear weapons. As long as there are still political tensions in this world, and countries are still struggling to gain military advantage over other nations, then it is reasonable to say that the market for uranium will continue to boom. Anyway, Niger also has many other useful minerals such as coal, gold, and cement.
Namibia is a southern African country that is rich in minerals like uranium, diamonds, zinc, lead, sulphur, salt, tantalite, and copper. Here is another country that is on the rich list as a result of having huge deposits of uranium. In fact, Namibia proudly holds fourth place in the world as far as supplying uranium is concerned. Chinas biggest investment on the African continent is in Namibia, where they have invested heavily in a mining company, producing uranium.
The Democratic Republic of Congo which is also known as Congo DRC is a central African country that is rich in copper, cobalt, diamond, gold, and tin. DRC has one of the richest deposits of mineral resources in Africa, and we must not forget that there is a lot of oil production going on there as well. There are over 30 foreign mining enterprises functioning in the country.
Zambia is an East African country with ample deposits of copper, emerald, and cobalt. If copper ruled the world then Zambia would be king. It is known for being a number one copper producer and supplier it produces 77% of African copper. Zambia even has a whole region dedicated to the production of copper: Copperbelt, as the place is called. Also, this country has the biggest underground mine on the whole continent, the mine is a corporation by itself, with 10,000 workers. Other minerals in the country are emerald and cobalt.
South Africa is built on gold! As a matter of fact, the city of Johannesburg which is now a major city in the world was founded on the back of a gold rush. The South African economy is still tied with gold despite the best efforts of the government to diversify the economy. Even as you read this post the South African Rand rises and falls with the price of gold on the international market. There are also large amounts of diamonds deposited in South Africa, and other less mentioned minerals in the country are platinum, copper, uranium, vanadium, coal, chromium, iron, zirconium, nickel, and many others. South Africa is not just rich because of items found under the ground; the country is rich in human capacity, industry, trade, manufacturing, banking, and retail commerce.
Mozambique is an African country that is rich in aluminum. Unfortunately, most of the countrys income is generated by exploiting natural resources under the ground, but at least Mozambique has a diverse array of minerals bringing in money to the center. The biggest source of money in the country remains aluminum. The annual production is approximately 580,000 tons, which is huge for a solid mineral. It is therefore not surprising that it constitutes 30% of the countrys exports. Aside from aluminum, the country also exports beryllium and tantalum to destinations all over the world. Mozambican soil is rich in limestone, which is a key ingredient in the manufacture of cement. There are also marble, gemstones, coals, iron, gold, oil, gas, and iron.
Guinea is on of the richest countries in minerals in Africa, the African country that is rich in bauxite, the raw material from which aluminum is made. Guinea clearly holds leadership in having bauxite deposits although it somehow falls behind Mozambique in terms of production of Aluminum. Guinea produces 95% of the entire bauxite production of Africa. The country is closely followed by Mozambique and Ghana respectively.
Tanzania is an African country that is rich in tanzanite, gold, diamonds, and silver. As a matter of fact, the country produces gold on an impressively large scale. Tanzania ranks as the fourth richest country in Africa in terms of gold deposits. In Tanzania, they have standard mines, constructed to enhance investment and development of their resources, but intelligently they have not forgotten to develop other areas of their economy as well. Agriculture is a large contributor to the economy of the country.
Ghana is a West African country that is rich in gold, bauxite, diamonds, manganese, crude oil, silver, and salt. Ghana was once called the Gold Coast because of the immense natural deposits of precious metal. The country has long been in trade with the Arabs who covet the resource, as well as the Portuguese, before the British. Currently, Ghana is the second-largest producer of gold in Africa- only second to South Africa. There are about 90 enterprises that specialize in gold mining in the country.
Botswana is an African country that is rich in diamonds, copper, coal, soda ash, and nickel. This is another African country whose economy highly depends on mining. Botswana has huge resources of gem diamonds, which is the main focus of its export. Apart from diamonds, the country is also leading in coal production- that is not a course for celebration because most countries are turning away from coal.
Generally speaking, exploitation of mineral reserves passes through processes that can potentially change the environment forever. It is therefore a wise course of action to pursue other avenues of revenue generation that may not require the extensive destruction of the environment. In the long run, agriculture is better than mining, hydroelectricity is better than nuclear energy, and tourism is better than timber logging. The emphasis is on preservation rather than destruction, and long-term development rather than short-term gains.