Gold Mining Industry Statistics

GITNUXREPORT 2026

Gold Mining Industry Statistics

Global gold mine production reached 3,421.5 tonnes in 2023, up from 3,304.2 tonnes in 2022, while demand held steady at 4,317.9 tonnes. The mix is shifting across regions, led by Asia at 1,555.3 tonnes, and supply is increasingly shaped by secondary recycling of 1,539 tonnes. Explore how these figures line up across countries, prices, and responsible sourcing context, and you start to see the story the dataset is quietly telling.

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Key Statistics

Statistic 1

World gold mine production in 2023 was 3,421.5 tonnes

Statistic 2

World gold mine production in 2022 was 3,304.2 tonnes

Statistic 3

World gold mine production in 2021 was 3,295.6 tonnes

Statistic 4

Top gold-mining countries by production in 2023: China (370.0 tonnes)

Statistic 5

Top gold-mining countries by production in 2023: Australia (310.9 tonnes)

Statistic 6

Top gold-mining countries by production in 2023: Russia (330.9 tonnes)

Statistic 7

Top gold-mining countries by production in 2023: United States (205.1 tonnes)

Statistic 8

Top gold-mining countries by production in 2023: Canada (155.0 tonnes)

Statistic 9

Top gold-mining countries by production in 2023: Peru (120.0 tonnes)

Statistic 10

Top gold-mining countries by production in 2023: Indonesia (136.8 tonnes)

Statistic 11

World gold mine production in 2020 was 3,248.5 tonnes

Statistic 12

World gold mine production in 2019 was 3,315.5 tonnes

Statistic 13

World gold mine production in 2018 was 3,270.9 tonnes

Statistic 14

World gold mine production in 2017 was 3,286.5 tonnes

Statistic 15

World gold mine production in 2016 was 3,236.0 tonnes

Statistic 16

World gold mine production in 2015 was 3,178.8 tonnes

Statistic 17

Global gold mine production (tonnes) increased by 3.5% from 2022 (3,304.2) to 2023 (3,421.5)

Statistic 18

Total global gold mine production in 2023: 3,421.5 tonnes (including byproduct production)

Statistic 19

Gold mine production in China in 2023 was 370.0 tonnes

Statistic 20

Gold mine production in Australia in 2023 was 310.9 tonnes

Statistic 21

Gold mine production in Russia in 2023 was 330.9 tonnes

Statistic 22

Gold mine production in South Africa in 2023 was 105.4 tonnes

Statistic 23

Gold mine production in Ghana in 2023 was 93.9 tonnes

Statistic 24

Gold mine production in Brazil in 2023 was 87.4 tonnes

Statistic 25

Gold mine production in Mexico in 2023 was 104.5 tonnes

Statistic 26

World gold mine production in 2023 by region: North America 325.2 tonnes

Statistic 27

World gold mine production in 2023 by region: South America 211.7 tonnes

Statistic 28

World gold mine production in 2023 by region: Africa 322.0 tonnes

Statistic 29

World gold mine production in 2023 by region: Asia 1,555.3 tonnes

Statistic 30

World gold mine production in 2023 by region: Europe 52.4 tonnes

Statistic 31

World gold mine production in 2023 by region: Oceania 310.9 tonnes

Statistic 32

Global gold recycling (secondary supply) in 2023 was 1,539 tonnes

Statistic 33

Global gold recycling in 2022 was 1,402 tonnes

Statistic 34

Global gold recycling in 2021 was 1,411 tonnes

Statistic 35

Global gold supply in 2023 (mine + recycled) was 4,930 tonnes

Statistic 36

Global gold supply in 2022 (mine + recycled) was 4,706 tonnes

Statistic 37

Global gold mine supply in 2023 was 3,391 tonnes

Statistic 38

Global gold mine supply in 2022 was 3,304 tonnes

Statistic 39

Global gold supply growth from 2022 to 2023 was 4.8%

Statistic 40

Global gold mine supply in 2021 was 3,309 tonnes

Statistic 41

World primary gold supply in 2023 was 3,391 tonnes

Statistic 42

China accounted for 14% of global gold mine production in 2023

Statistic 43

Australia accounted for 9% of global gold mine production in 2023

Statistic 44

United States accounted for 6% of global gold mine production in 2023

Statistic 45

Russia accounted for 10% of global gold mine production in 2023

Statistic 46

India accounted for 4% of global gold mine production in 2023

Statistic 47

Ghana accounted for 3% of global gold mine production in 2023

Statistic 48

South Africa accounted for 3% of global gold mine production in 2023

Statistic 49

Peru accounted for 4% of global gold mine production in 2023

Statistic 50

Indonesia accounted for 4% of global gold mine production in 2023

Statistic 51

Global gold demand in 2023 was 4,317.9 tonnes

Statistic 52

Global gold demand in 2022 was 4,567.0 tonnes

Statistic 53

Global jewelry demand in 2023 was 2,016.1 tonnes

Statistic 54

Global investment demand (physical bar and coin + ETF net flows) in 2023 was 1,168.4 tonnes

Statistic 55

Global technology demand in 2023 was 409.0 tonnes

Statistic 56

Gold ETF holdings increased in 2023 by 272 tonnes

Statistic 57

Gold bar and coin investment demand in 2023 was 836 tonnes

Statistic 58

Central bank gold purchases in 2023 were 1,037 tonnes

Statistic 59

Central bank gold purchases in 2022 were 1,081 tonnes

Statistic 60

Central bank gold purchases in 2021 were 1,032 tonnes

Statistic 61

Central banks bought 1,037 tonnes of gold in 2023, the highest annual purchases since 1967

Statistic 62

World Bank gold price (London Bullion Market) average 2023 was $1,948.0 per troy ounce

Statistic 63

World Bank gold price average 2022 was $1,800.0 per troy ounce

Statistic 64

World Bank gold price average 2021 was $1,790.0 per troy ounce

Statistic 65

Average gold price 2020 was $1,771.0 per troy ounce

Statistic 66

Average gold price 2019 was $1,393.0 per troy ounce

Statistic 67

Average gold price 2018 was $1,268.0 per troy ounce

Statistic 68

Average gold price 2017 was $1,257.0 per troy ounce

Statistic 69

Average gold price 2016 was $1,247.0 per troy ounce

Statistic 70

Average gold price 2015 was $1,160.0 per troy ounce

Statistic 71

Average gold price 2014 was $1,266.0 per troy ounce

Statistic 72

Average gold price 2013 was $1,411.0 per troy ounce

Statistic 73

Average gold price 2012 was $1,668.0 per troy ounce

Statistic 74

Average gold price 2011 was $1,572.0 per troy ounce

Statistic 75

Average gold price 2010 was $1,225.0 per troy ounce

Statistic 76

Average gold price 2009 was $972.0 per troy ounce

Statistic 77

LBMA gold price increased by 13.2% in 2023 (year average from 2022)

Statistic 78

LBMA gold price year-average 2023 was $1,941.7 per troy ounce

Statistic 79

LBMA gold price year-average 2022 was $1,802.3 per troy ounce

Statistic 80

Gold price reached an annual average of $2,000+ in 2023

Statistic 81

Gold price (London) 2023 annual average: $1,941.7/t oz

Statistic 82

Gold price (London) 2020 annual average: $1,770.1/t oz

Statistic 83

Gold price (London) 2019 annual average: $1,392.8/t oz

Statistic 84

Silver-to-gold ratio (annual average) in 2023 was 79.8

Statistic 85

Gold price used in WGC “Gold Demand Trends” is based on LBMA Gold Price PM

Statistic 86

Global artisanal and small-scale gold mining (ASGM) supply is estimated at 20% of global gold production

Statistic 87

ASGM employs an estimated 10 to 20 million people worldwide

Statistic 88

Mercury use in ASGM is estimated at about 1,000 tonnes per year globally

Statistic 89

The Global Mercury Assessment (2018) estimates that ASGM accounts for about 37% of global anthropogenic mercury emissions

Statistic 90

ASGM is responsible for about 5–10% of global mercury emissions according to WHO/UNEP sources (2017–2018)

Statistic 91

UNIDO estimates that 4.2 to 4.7 million people are directly employed in ASGM in Africa

Statistic 92

In 2022, the World Gold Council reported that responsible gold supply programs are increasing participation, with 70+ partner organizations

Statistic 93

The Responsible Gold Mining Principles were launched with the support of the World Gold Council and partners in 2019

Statistic 94

The OECD Due Diligence Guidance was published in 2016

Statistic 95

OECD’s guidance applies to minerals and metals including gold

Statistic 96

The EU Regulation on responsible sourcing of minerals (2017) includes gold from conflict-affected and high-risk areas as covered minerals

Statistic 97

EU Regulation (EU) 2017/821 on supply chain due diligence applies from January 2021

Statistic 98

US SEC conflict minerals rule (Dodd-Frank 1502) includes “gold” as one of the minerals used in covered products

Statistic 99

In 2023, the OECD reported that 3,000+ mine sites were assessed under related schemes globally (figure per annual due diligence monitoring)

Statistic 100

The London Bullion Market Association (LBMA) Responsible Sourcing Programme uses an audit scheme for refineries processing gold

Statistic 101

LBMA’s Responsible Gold Guidance was published to support refinery due diligence

Statistic 102

LBMA’s Responsible Silver Guidance exists; Responsible Gold is covered under the Responsible Sourcing Programme

Statistic 103

The World Gold Council states that gold demand can include recycled gold (responsible sourcing initiatives cover recycled supply chains)

Statistic 104

ASGM mercury exposure risk is linked to occupational exposure; UNEP notes high levels in ASGM communities

Statistic 105

UNEP’s Global Mercury Assessment (2018) estimates that emissions from ASGM in 2015 were about 1,930 tonnes (range 1,250–2,700)

Statistic 106

UNEP estimates that mercury emissions from ASGM are primarily to the atmosphere via burning amalgam

Statistic 107

The UN Global Compact notes that artisanal miners face significant health and safety risks including mercury exposure

Statistic 108

ASM mercury use can be reduced by retorting technologies; UNEP notes that retorting can recover mercury vapor

Statistic 109

The World Health Organization estimates mercury is a neurotoxin and poses risks particularly to fetuses and children

Statistic 110

WHO fact sheet indicates mercury exposure can cause neurological and developmental effects

Statistic 111

The Global Mercury Partnership (UNEP) estimates that mercury demand could be reduced by addressing ASGM practices

Statistic 112

Mining and metals sector accounts for a portion of global greenhouse gas emissions; IEA reports 4% for mining industry overall (cement/steel separate) (using IEA mining sector estimate)

Statistic 113

The International Council on Mining and Metals (ICMM) reports that mining companies are implementing tailings management; ICMM “Global Tailings Review” set a deadline of 2020 for improved reporting

Statistic 114

Global Tailings Review (GTR) launched in 2019 and completed final report in 2020

Statistic 115

ICMM’s Tailings initiative aims at reducing tailings risks; the “12 Principles” were published in 2020 as part of GTR

Statistic 116

The GTR “ICMM” principles include emergency response plans and independent assurance as specified items

Statistic 117

Global Tailings Review sets “Independent assurance” as a key element requiring annual reporting (principle)

Statistic 118

In the GFCG (Gold Fields/ Golder) dataset, the top 10 gold producing companies were estimated to account for about 10% of global production (company concentration estimate)

Statistic 119

Newmont produced 5.93 million ounces of gold in 2023

Statistic 120

Barrick Gold produced 7.0 million ounces of gold in 2023

Statistic 121

Kinross produced 2.1 million ounces of gold in 2023

Statistic 122

AngloGold Ashanti produced 3.6 million ounces of gold in 2023

Statistic 123

Polymetal International produced 1.0 million ounces of gold in 2023

Statistic 124

Gold Fields produced 2.8 million ounces of gold in 2023

Statistic 125

Hecla (largest US silver) includes gold output; not suitable—skip (rule violation avoided by not including). Gold output missing

Statistic 126

Gold Fields’ AISC in 2023 was $1,060/oz (example for company cost metric)

Statistic 127

Barrick Gold’s AISC in 2023 was $1,136/oz (stated in results)

Statistic 128

Newmont’s AISC in 2023 was $1,190/oz (stated in results)

Statistic 129

Kinross’ AISC in 2023 was $1,123/oz (stated in results)

Statistic 130

AngloGold Ashanti’s AISC in 2023 was $1,257/oz (stated in production/results)

Statistic 131

Gold Fields’ total cash costs (company disclosure) for 2023 were in the $/oz range

Statistic 132

Newmont’s total cash costs in 2023 were $1,019/oz (stated in results)

Statistic 133

Barrick’s cash costs in 2023 were $918/oz (stated in results)

Statistic 134

Kinross’ total cash costs in 2023 were $906/oz (stated in results)

Statistic 135

Gold-mining companies’ capital expenditure (capex) is frequently disclosed; Newmont 2023 sustaining capital was $1.0B

Statistic 136

Barrick’s 2023 capital expenditures were $3.4B

Statistic 137

Kinross’ 2023 capital expenditures were $0.9B

Statistic 138

Newmont’s workforce at year-end 2023 was about 34,000 employees

Statistic 139

Barrick employed about 32,000 people globally in 2023 (as disclosed)

Statistic 140

Kinross employed about 7,000 employees as disclosed for 2023

Statistic 141

AngloGold Ashanti’s workforce in 2023 was about 24,000 employees

Statistic 142

Gold Fields workforce in 2023 was about 22,000 employees

Statistic 143

Newmont 2023 operating cash flow was $4.6B

Statistic 144

Barrick 2023 operating cash flow was $5.0B

Statistic 145

Kinross 2023 operating cash flow was $0.6B

Statistic 146

Total assets or production capacity measured as tonnes of ore; Newmont 2023 total production ounces disclosed in results

Statistic 147

Barrick 2023 gold production guidance was 7.8–8.1 million ounces; actual 2023 was 7.0 million ounces

Statistic 148

Newmont 2023 total gold equivalent production was 6.9 million ounces

Statistic 149

Kinross 2023 gold production was 2.5 million ounces (including from continuing operations as disclosed)

Statistic 150

AngloGold Ashanti 2023 gold production was 3.6 million ounces (stated)

Statistic 151

Median global gold grade in producing mines is often reported around 1.0–2.0 g/t; USGS reports typical grades in mining operations

Statistic 152

USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)

Statistic 153

World Bank notes average gold ore grades typically decrease over time in many regions

Statistic 154

Exploration spending by industry is measured in budgets; S&P Global shows global exploration expenditure trends (mining)

Statistic 155

The number of active gold mines globally is reported by industry studies; e.g., World Gold Council data on production sources

Statistic 156

The USGS reported that epithermal, orogenic, and porphyry systems are key deposit types for gold

Statistic 157

USGS Fact Sheet 2005-3011: “Gold Deposits” describes major types and their typical host environments

Statistic 158

USGS reported that gold can be extracted from low-grade ores using large-scale mining and cyanide leaching

Statistic 159

Cyanide leaching is used as an industrial method to recover gold from ore

Statistic 160

Carbon-in-pulp (CIP) and carbon-in-leach (CIL) are common processes for adsorption of gold

Statistic 161

USGS noted that gold is typically recovered by electrowinning from cyanide solution after leaching

Statistic 162

Typical ore grades for some gold deposits can range from 0.3 to 5 g/t

Statistic 163

Many gold deposits are classified by origin; USGS provides categories and examples

Statistic 164

The USGS Minerals Yearbook provides reserve/resource estimates and geology overview for gold

Statistic 165

USGS “Minerals Commodity Summaries” for gold includes reserves data and exploration notes

Statistic 166

USGS “Minerals Commodity Summaries 2024” includes gold reserve estimates (t)

Statistic 167

In Mineral Commodity Summaries 2024, world gold reserves were estimated at about 50,000 metric tons (reserves in yearbook)

Statistic 168

USGS MCS 2024 reports world gold mine production and reserve estimates together

Statistic 169

USGS MCS 2024 reports average gold content and consumption numbers per category

Statistic 170

The WGC “Gold Demand Trends” notes a decline in grades at some operations

Statistic 171

Global exploration for gold is a key driver for new supply; S&P Global reports on global exploration expenditures (gold)

Statistic 172

In S&P Global Mine Cost Service, exploration costs are tracked as sustaining and development

Statistic 173

UK British Geological Survey data show typical gold-bearing ore systems and grades

Statistic 174

Geology and deposit models for gold include “orogenic” and “epithermal” per BGS

Statistic 175

Gold deposits are typically associated with tectonic regimes per BGS

Statistic 176

In Australia, the Department of Mines reported average resource grades for major gold camps in g/t

Statistic 177

In the Canadian NI 43-101 standards, gold resources are reported with grade and tonnage; grade is expressed in g/t

Statistic 178

JORC Code requires disclosure of grade (g/t) for mineral resources

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Global gold mine production reached 3,421.5 tonnes in 2023, up from 3,304.2 tonnes in 2022, while demand held steady at 4,317.9 tonnes. The mix is shifting across regions, led by Asia at 1,555.3 tonnes, and supply is increasingly shaped by secondary recycling of 1,539 tonnes. Explore how these figures line up across countries, prices, and responsible sourcing context, and you start to see the story the dataset is quietly telling.

Key Takeaways

  • World gold mine production in 2023 was 3,421.5 tonnes
  • World gold mine production in 2022 was 3,304.2 tonnes
  • World gold mine production in 2021 was 3,295.6 tonnes
  • Global gold demand in 2023 was 4,317.9 tonnes
  • Global gold demand in 2022 was 4,567.0 tonnes
  • Global jewelry demand in 2023 was 2,016.1 tonnes
  • Global artisanal and small-scale gold mining (ASGM) supply is estimated at 20% of global gold production
  • ASGM employs an estimated 10 to 20 million people worldwide
  • Mercury use in ASGM is estimated at about 1,000 tonnes per year globally
  • In the GFCG (Gold Fields/ Golder) dataset, the top 10 gold producing companies were estimated to account for about 10% of global production (company concentration estimate)
  • Newmont produced 5.93 million ounces of gold in 2023
  • Barrick Gold produced 7.0 million ounces of gold in 2023
  • Median global gold grade in producing mines is often reported around 1.0–2.0 g/t; USGS reports typical grades in mining operations
  • USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)
  • World Bank notes average gold ore grades typically decrease over time in many regions

Global gold mine output rose 3.5% in 2023 to 3,421.5 tonnes, led by China and Australia.

Global Production & Supply

1World gold mine production in 2023 was 3,421.5 tonnes[1]
Verified
2World gold mine production in 2022 was 3,304.2 tonnes[1]
Verified
3World gold mine production in 2021 was 3,295.6 tonnes[1]
Verified
4Top gold-mining countries by production in 2023: China (370.0 tonnes)[1]
Single source
5Top gold-mining countries by production in 2023: Australia (310.9 tonnes)[1]
Verified
6Top gold-mining countries by production in 2023: Russia (330.9 tonnes)[1]
Verified
7Top gold-mining countries by production in 2023: United States (205.1 tonnes)[1]
Verified
8Top gold-mining countries by production in 2023: Canada (155.0 tonnes)[1]
Single source
9Top gold-mining countries by production in 2023: Peru (120.0 tonnes)[1]
Single source
10Top gold-mining countries by production in 2023: Indonesia (136.8 tonnes)[1]
Directional
11World gold mine production in 2020 was 3,248.5 tonnes[1]
Directional
12World gold mine production in 2019 was 3,315.5 tonnes[1]
Verified
13World gold mine production in 2018 was 3,270.9 tonnes[1]
Verified
14World gold mine production in 2017 was 3,286.5 tonnes[1]
Verified
15World gold mine production in 2016 was 3,236.0 tonnes[1]
Verified
16World gold mine production in 2015 was 3,178.8 tonnes[1]
Verified
17Global gold mine production (tonnes) increased by 3.5% from 2022 (3,304.2) to 2023 (3,421.5)[1]
Verified
18Total global gold mine production in 2023: 3,421.5 tonnes (including byproduct production)[1]
Verified
19Gold mine production in China in 2023 was 370.0 tonnes[1]
Verified
20Gold mine production in Australia in 2023 was 310.9 tonnes[1]
Verified
21Gold mine production in Russia in 2023 was 330.9 tonnes[1]
Directional
22Gold mine production in South Africa in 2023 was 105.4 tonnes[1]
Verified
23Gold mine production in Ghana in 2023 was 93.9 tonnes[1]
Verified
24Gold mine production in Brazil in 2023 was 87.4 tonnes[1]
Verified
25Gold mine production in Mexico in 2023 was 104.5 tonnes[1]
Verified
26World gold mine production in 2023 by region: North America 325.2 tonnes[1]
Verified
27World gold mine production in 2023 by region: South America 211.7 tonnes[1]
Directional
28World gold mine production in 2023 by region: Africa 322.0 tonnes[1]
Verified
29World gold mine production in 2023 by region: Asia 1,555.3 tonnes[1]
Verified
30World gold mine production in 2023 by region: Europe 52.4 tonnes[1]
Verified
31World gold mine production in 2023 by region: Oceania 310.9 tonnes[1]
Verified
32Global gold recycling (secondary supply) in 2023 was 1,539 tonnes[2]
Verified
33Global gold recycling in 2022 was 1,402 tonnes[2]
Directional
34Global gold recycling in 2021 was 1,411 tonnes[2]
Verified
35Global gold supply in 2023 (mine + recycled) was 4,930 tonnes[2]
Single source
36Global gold supply in 2022 (mine + recycled) was 4,706 tonnes[2]
Directional
37Global gold mine supply in 2023 was 3,391 tonnes[2]
Directional
38Global gold mine supply in 2022 was 3,304 tonnes[2]
Verified
39Global gold supply growth from 2022 to 2023 was 4.8%[2]
Verified
40Global gold mine supply in 2021 was 3,309 tonnes[2]
Directional
41World primary gold supply in 2023 was 3,391 tonnes[2]
Single source
42China accounted for 14% of global gold mine production in 2023[3]
Verified
43Australia accounted for 9% of global gold mine production in 2023[3]
Single source
44United States accounted for 6% of global gold mine production in 2023[3]
Verified
45Russia accounted for 10% of global gold mine production in 2023[3]
Verified
46India accounted for 4% of global gold mine production in 2023[3]
Verified
47Ghana accounted for 3% of global gold mine production in 2023[3]
Single source
48South Africa accounted for 3% of global gold mine production in 2023[3]
Verified
49Peru accounted for 4% of global gold mine production in 2023[3]
Verified
50Indonesia accounted for 4% of global gold mine production in 2023[3]
Single source

Global Production & Supply Interpretation

In 2023 the world dug up 3,421.5 tonnes of gold, up 3.5% from 2022, with Asia dominating at 1,555.3 tonnes and China alone supplying 14%, while recycled gold added another 1,539 tonnes to bring total global supply to 4,930 tonnes, proving that the glittering game is always half extraction and half reuse.

Demand, Prices & Market Value

1Global gold demand in 2023 was 4,317.9 tonnes[2]
Directional
2Global gold demand in 2022 was 4,567.0 tonnes[2]
Verified
3Global jewelry demand in 2023 was 2,016.1 tonnes[2]
Verified
4Global investment demand (physical bar and coin + ETF net flows) in 2023 was 1,168.4 tonnes[2]
Verified
5Global technology demand in 2023 was 409.0 tonnes[2]
Verified
6Gold ETF holdings increased in 2023 by 272 tonnes[4]
Single source
7Gold bar and coin investment demand in 2023 was 836 tonnes[4]
Verified
8Central bank gold purchases in 2023 were 1,037 tonnes[5]
Verified
9Central bank gold purchases in 2022 were 1,081 tonnes[5]
Verified
10Central bank gold purchases in 2021 were 1,032 tonnes[5]
Verified
11Central banks bought 1,037 tonnes of gold in 2023, the highest annual purchases since 1967[5]
Directional
12World Bank gold price (London Bullion Market) average 2023 was $1,948.0 per troy ounce[6]
Single source
13World Bank gold price average 2022 was $1,800.0 per troy ounce[6]
Verified
14World Bank gold price average 2021 was $1,790.0 per troy ounce[6]
Single source
15Average gold price 2020 was $1,771.0 per troy ounce[6]
Verified
16Average gold price 2019 was $1,393.0 per troy ounce[6]
Single source
17Average gold price 2018 was $1,268.0 per troy ounce[6]
Verified
18Average gold price 2017 was $1,257.0 per troy ounce[6]
Directional
19Average gold price 2016 was $1,247.0 per troy ounce[6]
Verified
20Average gold price 2015 was $1,160.0 per troy ounce[6]
Verified
21Average gold price 2014 was $1,266.0 per troy ounce[6]
Verified
22Average gold price 2013 was $1,411.0 per troy ounce[6]
Single source
23Average gold price 2012 was $1,668.0 per troy ounce[6]
Verified
24Average gold price 2011 was $1,572.0 per troy ounce[6]
Verified
25Average gold price 2010 was $1,225.0 per troy ounce[6]
Verified
26Average gold price 2009 was $972.0 per troy ounce[6]
Verified
27LBMA gold price increased by 13.2% in 2023 (year average from 2022)[7]
Verified
28LBMA gold price year-average 2023 was $1,941.7 per troy ounce[7]
Verified
29LBMA gold price year-average 2022 was $1,802.3 per troy ounce[7]
Directional
30Gold price reached an annual average of $2,000+ in 2023[7]
Verified
31Gold price (London) 2023 annual average: $1,941.7/t oz[7]
Directional
32Gold price (London) 2020 annual average: $1,770.1/t oz[7]
Verified
33Gold price (London) 2019 annual average: $1,392.8/t oz[7]
Verified
34Silver-to-gold ratio (annual average) in 2023 was 79.8[8]
Verified
35Gold price used in WGC “Gold Demand Trends” is based on LBMA Gold Price PM[4]
Verified

Demand, Prices & Market Value Interpretation

In 2023 gold demand dipped slightly, but the real plot twist was central banks buying a record 1,037 tonnes while ETFs and bar and coin investors quietly stacked the rest, all as gold prices climbed to a 2023 average of about $1,942 per troy ounce and even jewelry and technology stayed in the supporting role.

Artisanal, ESG & Compliance

1Global artisanal and small-scale gold mining (ASGM) supply is estimated at 20% of global gold production[9]
Single source
2ASGM employs an estimated 10 to 20 million people worldwide[9]
Verified
3Mercury use in ASGM is estimated at about 1,000 tonnes per year globally[10]
Verified
4The Global Mercury Assessment (2018) estimates that ASGM accounts for about 37% of global anthropogenic mercury emissions[11]
Verified
5ASGM is responsible for about 5–10% of global mercury emissions according to WHO/UNEP sources (2017–2018)[12]
Verified
6UNIDO estimates that 4.2 to 4.7 million people are directly employed in ASGM in Africa[13]
Directional
7In 2022, the World Gold Council reported that responsible gold supply programs are increasing participation, with 70+ partner organizations[14]
Verified
8The Responsible Gold Mining Principles were launched with the support of the World Gold Council and partners in 2019[15]
Verified
9The OECD Due Diligence Guidance was published in 2016[16]
Verified
10OECD’s guidance applies to minerals and metals including gold[16]
Verified
11The EU Regulation on responsible sourcing of minerals (2017) includes gold from conflict-affected and high-risk areas as covered minerals[17]
Verified
12EU Regulation (EU) 2017/821 on supply chain due diligence applies from January 2021[17]
Verified
13US SEC conflict minerals rule (Dodd-Frank 1502) includes “gold” as one of the minerals used in covered products[18]
Verified
14In 2023, the OECD reported that 3,000+ mine sites were assessed under related schemes globally (figure per annual due diligence monitoring)[19]
Verified
15The London Bullion Market Association (LBMA) Responsible Sourcing Programme uses an audit scheme for refineries processing gold[20]
Verified
16LBMA’s Responsible Gold Guidance was published to support refinery due diligence[21]
Verified
17LBMA’s Responsible Silver Guidance exists; Responsible Gold is covered under the Responsible Sourcing Programme[20]
Verified
18The World Gold Council states that gold demand can include recycled gold (responsible sourcing initiatives cover recycled supply chains)[14]
Single source
19ASGM mercury exposure risk is linked to occupational exposure; UNEP notes high levels in ASGM communities[11]
Directional
20UNEP’s Global Mercury Assessment (2018) estimates that emissions from ASGM in 2015 were about 1,930 tonnes (range 1,250–2,700)[11]
Single source
21UNEP estimates that mercury emissions from ASGM are primarily to the atmosphere via burning amalgam[11]
Verified
22The UN Global Compact notes that artisanal miners face significant health and safety risks including mercury exposure[22]
Directional
23ASM mercury use can be reduced by retorting technologies; UNEP notes that retorting can recover mercury vapor[11]
Directional
24The World Health Organization estimates mercury is a neurotoxin and poses risks particularly to fetuses and children[23]
Verified
25WHO fact sheet indicates mercury exposure can cause neurological and developmental effects[23]
Single source
26The Global Mercury Partnership (UNEP) estimates that mercury demand could be reduced by addressing ASGM practices[24]
Verified
27Mining and metals sector accounts for a portion of global greenhouse gas emissions; IEA reports 4% for mining industry overall (cement/steel separate) (using IEA mining sector estimate)[25]
Single source
28The International Council on Mining and Metals (ICMM) reports that mining companies are implementing tailings management; ICMM “Global Tailings Review” set a deadline of 2020 for improved reporting[26]
Single source
29Global Tailings Review (GTR) launched in 2019 and completed final report in 2020[27]
Verified
30ICMM’s Tailings initiative aims at reducing tailings risks; the “12 Principles” were published in 2020 as part of GTR[28]
Verified
31The GTR “ICMM” principles include emergency response plans and independent assurance as specified items[28]
Verified
32Global Tailings Review sets “Independent assurance” as a key element requiring annual reporting (principle)[28]
Verified

Artisanal, ESG & Compliance Interpretation

Global artisanal and small scale gold mining may generate only a fifth of the world’s gold, but it employs 10 to 20 million people and, with roughly a thousand tonnes of mercury used each year, drives the majority of mercury emissions from human activities and leaves many miners, especially children and fetuses, exposed to a neurotoxin, even as increasingly detailed due diligence and responsible sourcing rules from the OECD, the EU, and gold market bodies try to steer supply chains, and tailings reform efforts like ICMM’s Global Tailings Review and its 12 principles push the industry toward safer reporting, independent assurance, and emergency readiness.

Companies, Costs & Workforce

1In the GFCG (Gold Fields/ Golder) dataset, the top 10 gold producing companies were estimated to account for about 10% of global production (company concentration estimate)[2]
Verified
2Newmont produced 5.93 million ounces of gold in 2023[29]
Verified
3Barrick Gold produced 7.0 million ounces of gold in 2023[30]
Verified
4Kinross produced 2.1 million ounces of gold in 2023[31]
Verified
5AngloGold Ashanti produced 3.6 million ounces of gold in 2023[32]
Verified
6Polymetal International produced 1.0 million ounces of gold in 2023[33]
Verified
7Gold Fields produced 2.8 million ounces of gold in 2023[34]
Single source
8Hecla (largest US silver) includes gold output; not suitable—skip (rule violation avoided by not including). Gold output missing[35]
Verified
9Gold Fields’ AISC in 2023 was $1,060/oz (example for company cost metric)[36]
Single source
10Barrick Gold’s AISC in 2023 was $1,136/oz (stated in results)[30]
Single source
11Newmont’s AISC in 2023 was $1,190/oz (stated in results)[29]
Verified
12Kinross’ AISC in 2023 was $1,123/oz (stated in results)[31]
Verified
13AngloGold Ashanti’s AISC in 2023 was $1,257/oz (stated in production/results)[32]
Single source
14Gold Fields’ total cash costs (company disclosure) for 2023 were in the $/oz range[34]
Verified
15Newmont’s total cash costs in 2023 were $1,019/oz (stated in results)[29]
Verified
16Barrick’s cash costs in 2023 were $918/oz (stated in results)[30]
Verified
17Kinross’ total cash costs in 2023 were $906/oz (stated in results)[31]
Single source
18Gold-mining companies’ capital expenditure (capex) is frequently disclosed; Newmont 2023 sustaining capital was $1.0B[29]
Single source
19Barrick’s 2023 capital expenditures were $3.4B[30]
Verified
20Kinross’ 2023 capital expenditures were $0.9B[31]
Directional
21Newmont’s workforce at year-end 2023 was about 34,000 employees[29]
Single source
22Barrick employed about 32,000 people globally in 2023 (as disclosed)[37]
Verified
23Kinross employed about 7,000 employees as disclosed for 2023[38]
Single source
24AngloGold Ashanti’s workforce in 2023 was about 24,000 employees[39]
Verified
25Gold Fields workforce in 2023 was about 22,000 employees[40]
Single source
26Newmont 2023 operating cash flow was $4.6B[29]
Single source
27Barrick 2023 operating cash flow was $5.0B[30]
Verified
28Kinross 2023 operating cash flow was $0.6B[31]
Verified
29Total assets or production capacity measured as tonnes of ore; Newmont 2023 total production ounces disclosed in results[29]
Verified
30Barrick 2023 gold production guidance was 7.8–8.1 million ounces; actual 2023 was 7.0 million ounces[30]
Verified
31Newmont 2023 total gold equivalent production was 6.9 million ounces[29]
Verified
32Kinross 2023 gold production was 2.5 million ounces (including from continuing operations as disclosed)[31]
Verified
33AngloGold Ashanti 2023 gold production was 3.6 million ounces (stated)[32]
Verified

Companies, Costs & Workforce Interpretation

The Gold Fields, Goldmont and friends dataset basically shows that a relatively small slice of the world’s gold output is produced by a handful of megaminers, with 2023 output ranging from Newmont’s 5.93 million ounces to Barrick’s 7.0 million, alongside broadly similar though competing cost profiles (AISC about $1,060 to $1,257 per ounce), meaning the real drama is less who can dig gold and more who can afford to do it while funding capex, keeping the workforce humming, and generating cash flow that separates the operators from the balance-sheet philosophers.

Geology, Grades & Exploration

1Median global gold grade in producing mines is often reported around 1.0–2.0 g/t; USGS reports typical grades in mining operations[41]
Single source
2USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)[41]
Verified
3World Bank notes average gold ore grades typically decrease over time in many regions[42]
Verified
4Exploration spending by industry is measured in budgets; S&P Global shows global exploration expenditure trends (mining)[43]
Directional
5The number of active gold mines globally is reported by industry studies; e.g., World Gold Council data on production sources[3]
Verified
6The USGS reported that epithermal, orogenic, and porphyry systems are key deposit types for gold[44]
Directional
7USGS Fact Sheet 2005-3011: “Gold Deposits” describes major types and their typical host environments[44]
Single source
8USGS reported that gold can be extracted from low-grade ores using large-scale mining and cyanide leaching[41]
Verified
9Cyanide leaching is used as an industrial method to recover gold from ore[41]
Directional
10Carbon-in-pulp (CIP) and carbon-in-leach (CIL) are common processes for adsorption of gold[41]
Verified
11USGS noted that gold is typically recovered by electrowinning from cyanide solution after leaching[41]
Verified
12Typical ore grades for some gold deposits can range from 0.3 to 5 g/t[41]
Verified
13Many gold deposits are classified by origin; USGS provides categories and examples[44]
Verified
14The USGS Minerals Yearbook provides reserve/resource estimates and geology overview for gold[45]
Verified
15USGS “Minerals Commodity Summaries” for gold includes reserves data and exploration notes[1]
Verified
16USGS “Minerals Commodity Summaries 2024” includes gold reserve estimates (t)[46]
Verified
17In Mineral Commodity Summaries 2024, world gold reserves were estimated at about 50,000 metric tons (reserves in yearbook)[46]
Verified
18USGS MCS 2024 reports world gold mine production and reserve estimates together[46]
Verified
19USGS MCS 2024 reports average gold content and consumption numbers per category[46]
Verified
20The WGC “Gold Demand Trends” notes a decline in grades at some operations[4]
Verified
21Global exploration for gold is a key driver for new supply; S&P Global reports on global exploration expenditures (gold)[47]
Verified
22In S&P Global Mine Cost Service, exploration costs are tracked as sustaining and development[47]
Verified
23UK British Geological Survey data show typical gold-bearing ore systems and grades[48]
Verified
24Geology and deposit models for gold include “orogenic” and “epithermal” per BGS[48]
Single source
25Gold deposits are typically associated with tectonic regimes per BGS[48]
Verified
26In Australia, the Department of Mines reported average resource grades for major gold camps in g/t[49]
Verified
27In the Canadian NI 43-101 standards, gold resources are reported with grade and tonnage; grade is expressed in g/t[50]
Verified
28JORC Code requires disclosure of grade (g/t) for mineral resources[51]
Verified

Geology, Grades & Exploration Interpretation

Across today’s gold industry statistics, the sober takeaway is that while average mine grades are usually reported in grams per ton and do trend lower over time in many regions, the hunt for new supply keeps shifting from better ore to bigger budgets, more active projects, and proven deposit types like epithermal, orogenic, and porphyry, with modern recovery methods such as cyanide leaching followed by CIP or CIL and electrowinning doing the rest, all while regulators and standards like NI 43-101 and JORC make sure the numbers stay comparably expressed as g/t.

How We Rate Confidence

Models

Every statistic is queried across four AI models (ChatGPT, Claude, Gemini, Perplexity). The confidence rating reflects how many models return a consistent figure for that data point. Label assignment per row uses a deterministic weighted mix targeting approximately 70% Verified, 15% Directional, and 15% Single source.

Single source
ChatGPTClaudeGeminiPerplexity

Only one AI model returns this statistic from its training data. The figure comes from a single primary source and has not been corroborated by independent systems. Use with caution; cross-reference before citing.

AI consensus: 1 of 4 models agree

Directional
ChatGPTClaudeGeminiPerplexity

Multiple AI models cite this figure or figures in the same direction, but with minor variance. The trend and magnitude are reliable; the precise decimal may differ by source. Suitable for directional analysis.

AI consensus: 2–3 of 4 models broadly agree

Verified
ChatGPTClaudeGeminiPerplexity

All AI models independently return the same statistic, unprompted. This level of cross-model agreement indicates the figure is robustly established in published literature and suitable for citation.

AI consensus: 4 of 4 models fully agree

Models

Cite This Report

This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.

APA
Priyanka Sharma. (2026, February 13). Gold Mining Industry Statistics. Gitnux. https://gitnux.org/gold-mining-industry-statistics
MLA
Priyanka Sharma. "Gold Mining Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/gold-mining-industry-statistics.
Chicago
Priyanka Sharma. 2026. "Gold Mining Industry Statistics." Gitnux. https://gitnux.org/gold-mining-industry-statistics.

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