World gold mine production reached 3,421.5 tonnes in 2023, up from 3,304.2 tonnes in 2022. Total global gold supply rose to 4,930 tonnes as recycling added about 1,539 tonnes to mined output. Central banks were also buying 1,037 tonnes in 2023, supporting demand shifts alongside evolving supply patterns.
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.
Related reading
01 · Category
Global Production & Supply30 stats
01
World gold mine production in 2023 was 3,421.5 tonnes
02
World gold mine production in 2022 was 3,304.2 tonnes
03
World gold mine production in 2021 was 3,295.6 tonnes
04
Top gold-mining countries by production in 2023: China (370.0 tonnes)
05
Top gold-mining countries by production in 2023: Australia (310.9 tonnes)
06
Top gold-mining countries by production in 2023: Russia (330.9 tonnes)
07
Top gold-mining countries by production in 2023: United States (205.1 tonnes)
08
Top gold-mining countries by production in 2023: Canada (155.0 tonnes)
09
Top gold-mining countries by production in 2023: Peru (120.0 tonnes)
10
Top gold-mining countries by production in 2023: Indonesia (136.8 tonnes)
11
World gold mine production in 2020 was 3,248.5 tonnes
12
World gold mine production in 2019 was 3,315.5 tonnes
13
World gold mine production in 2018 was 3,270.9 tonnes
14
World gold mine production in 2017 was 3,286.5 tonnes
15
World gold mine production in 2016 was 3,236.0 tonnes
16
World gold mine production in 2015 was 3,178.8 tonnes
17
Global gold mine production (tonnes) increased by 3.5% from 2022 (3,304.2) to 2023 (3,421.5)
18
Total global gold mine production in 2023: 3,421.5 tonnes (including byproduct production)
19
Gold mine production in China in 2023 was 370.0 tonnes
20
Gold mine production in Australia in 2023 was 310.9 tonnes
21
Gold mine production in Russia in 2023 was 330.9 tonnes
22
Gold mine production in South Africa in 2023 was 105.4 tonnes
23
Gold mine production in Ghana in 2023 was 93.9 tonnes
24
Gold mine production in Brazil in 2023 was 87.4 tonnes
25
Gold mine production in Mexico in 2023 was 104.5 tonnes
26
World gold mine production in 2023 by region: North America 325.2 tonnes
27
World gold mine production in 2023 by region: South America 211.7 tonnes
28
World gold mine production in 2023 by region: Africa 322.0 tonnes
29
World gold mine production in 2023 by region: Asia 1,555.3 tonnes
30
World gold mine production in 2023 by region: Europe 52.4 tonnes
Interpretation
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.
02 · Category
Demand, Prices & Market Value30 stats
01
Global gold demand in 2023 was 4,317.9 tonnes
02
Global gold demand in 2022 was 4,567.0 tonnes
03
Global jewelry demand in 2023 was 2,016.1 tonnes
04
Global investment demand (physical bar and coin + ETF net flows) in 2023 was 1,168.4 tonnes
05
Global technology demand in 2023 was 409.0 tonnes
06
Gold ETF holdings increased in 2023 by 272 tonnes
07
Gold bar and coin investment demand in 2023 was 836 tonnes
08
Central bank gold purchases in 2023 were 1,037 tonnes
09
Central bank gold purchases in 2022 were 1,081 tonnes
10
Central bank gold purchases in 2021 were 1,032 tonnes
11
Central banks bought 1,037 tonnes of gold in 2023, the highest annual purchases since 1967
12
World Bank gold price (London Bullion Market) average 2023 was $1,948.0per troy ounce
13
World Bank gold price average 2022 was $1,800.0per troy ounce
14
World Bank gold price average 2021 was $1,790.0per troy ounce
15
Average gold price 2020 was $1,771.0per troy ounce
16
Average gold price 2019 was $1,393.0per troy ounce
17
Average gold price 2018 was $1,268.0per troy ounce
18
Average gold price 2017 was $1,257.0per troy ounce
19
Average gold price 2016 was $1,247.0per troy ounce
20
Average gold price 2015 was $1,160.0per troy ounce
21
Average gold price 2014 was $1,266.0per troy ounce
22
Average gold price 2013 was $1,411.0per troy ounce
23
Average gold price 2012 was $1,668.0per troy ounce
24
Average gold price 2011 was $1,572.0per troy ounce
25
Average gold price 2010 was $1,225.0per troy ounce
26
Average gold price 2009 was $972.0per troy ounce
27
LBMA gold price increased by 13.2% in 2023 (year average from 2022)
28
LBMA gold price year-average 2023 was $1,941.7per troy ounce
29
LBMA gold price year-average 2022 was $1,802.3per troy ounce
30
Gold price reached an annual average of $2,000+ in 2023
Interpretation
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.
03 · Category
Artisanal, ESG & Compliance30 stats
01
Global artisanal and small-scale gold mining (ASGM) supply is estimated at 20% of global gold production
02
ASGM employs an estimated 10 to 20 million people worldwide
03
Mercury use in ASGM is estimated at about 1,000 tonnes per year globally
04
The Global Mercury Assessment (2018) estimates that ASGM accounts for about 37% of global anthropogenic mercury emissions
05
ASGM is responsible for about 5–10% of global mercury emissions according to WHO/UNEP sources (2017–2018)
06
UNIDO estimates that 4.2 to 4.7 million people are directly employed in ASGM in Africa
07
In 2022, the World Gold Council reported that responsible gold supply programs are increasing participation, with 70+ partner organizations
08
The Responsible Gold Mining Principles were launched with the support of the World Gold Council and partners in 2019
09
The OECD Due Diligence Guidance was published in 2016
10
OECD’s guidance applies to minerals and metals including gold
11
The EU Regulation on responsible sourcing of minerals (2017) includes gold from conflict-affected and high-risk areas as covered minerals
12
EU Regulation (EU) 2017/821 on supply chain due diligence applies from January 2021
13
US SEC conflict minerals rule (Dodd-Frank 1502) includes “gold” as one of the minerals used in covered products
14
In 2023, the OECD reported that 3,000+ mine sites were assessed under related schemes globally (figure per annual due diligence monitoring)
15
The London Bullion Market Association (LBMA) Responsible Sourcing Programme uses an audit scheme for refineries processing gold
16
LBMA’s Responsible Gold Guidance was published to support refinery due diligence
17
LBMA’s Responsible Silver Guidance exists; Responsible Gold is covered under the Responsible Sourcing Programme
18
The World Gold Council states that gold demand can include recycled gold (responsible sourcing initiatives cover recycled supply chains)
19
ASGM mercury exposure risk is linked to occupational exposure; UNEP notes high levels in ASGM communities
20
UNEP’s Global Mercury Assessment (2018) estimates that emissions from ASGM in 2015 were about 1,930 tonnes (range 1,250–2,700)
21
UNEP estimates that mercury emissions from ASGM are primarily to the atmosphere via burning amalgam
22
The UN Global Compact notes that artisanal miners face significant health and safety risks including mercury exposure
23
ASM mercury use can be reduced by retorting technologies; UNEP notes that retorting can recover mercury vapor
24
The World Health Organization estimates mercury is a neurotoxin and poses risks particularly to fetuses and children
25
WHO fact sheet indicates mercury exposure can cause neurological and developmental effects
26
The Global Mercury Partnership (UNEP) estimates that mercury demand could be reduced by addressing ASGM practices
27
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)
28
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
29
Global Tailings Review (GTR) launched in 2019 and completed final report in 2020
30
ICMM’s Tailings initiative aims at reducing tailings risks; the “12 Principles” were published in 2020 as part of GTR
Interpretation
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.
More related reading
04 · Category
Companies, Costs & Workforce30 stats
01
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)
02
Newmont produced 5.93 million ounces of gold in 2023
03
Barrick Gold produced 7.0 million ounces of gold in 2023
04
Kinross produced 2.1 million ounces of gold in 2023
05
AngloGold Ashanti produced 3.6 million ounces of gold in 2023
06
Polymetal International produced 1.0 million ounces of gold in 2023
07
Gold Fields produced 2.8 million ounces of gold in 2023
08
Hecla (largest US silver) includes gold output; not suitable—skip (rule violation avoided by not including). Gold output missing
09
Gold Fields’ AISC in 2023 was $1,060/oz (example for company cost metric)
10
Barrick Gold’s AISC in 2023 was $1,136/oz (stated in results)
11
Newmont’s AISC in 2023 was $1,190/oz (stated in results)
12
Kinross’ AISC in 2023 was $1,123/oz (stated in results)
13
AngloGold Ashanti’s AISC in 2023 was $1,257/oz (stated in production/results)
14
Gold Fields’ total cash costs (company disclosure) for 2023 were in the $/oz range
15
Newmont’s total cash costs in 2023 were $1,019/oz (stated in results)
16
Barrick’s cash costs in 2023 were $918/oz (stated in results)
17
Kinross’ total cash costs in 2023 were $906/oz (stated in results)
18
Gold-mining companies’ capital expenditure (capex) is frequently disclosed; Newmont 2023 sustaining capital was $1.0B
19
Barrick’s 2023 capital expenditures were $3.4B
20
Kinross’ 2023 capital expenditures were $0.9B
21
Newmont’s workforce at year-end 2023 was about 34,000 employees
22
Barrick employed about 32,000 people globally in 2023 (as disclosed)
23
Kinross employed about 7,000 employees as disclosed for 2023
24
AngloGold Ashanti’s workforce in 2023 was about 24,000 employees
25
Gold Fields workforce in 2023 was about 22,000 employees
26
Newmont 2023 operating cash flow was $4.6B
27
Barrick 2023 operating cash flow was $5.0B
28
Kinross 2023 operating cash flow was $0.6B
29
Total assets or production capacity measured as tonnes of ore; Newmont 2023 total production ounces disclosed in results
30
Barrick 2023 gold production guidance was 7.8–8.1 million ounces; actual 2023 was 7.0 million ounces
Interpretation
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.
05 · Category
Geology, Grades & Exploration28 stats
01
Median global gold grade in producing mines is often reported around 1.0–2.0 g/t; USGS reports typical grades in mining operations
02
USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)
03
World Bank notes average gold ore grades typically decrease over time in many regions
04
Exploration spending by industry is measured in budgets; S&P Global shows global exploration expenditure trends (mining)
05
The number of active gold mines globally is reported by industry studies; e.g., World Gold Council data on production sources
06
The USGS reported that epithermal, orogenic, and porphyry systems are key deposit types for gold
07
USGS Fact Sheet 2005-3011: “Gold Deposits” describes major types and their typical host environments
08
USGS reported that gold can be extracted from low-grade ores using large-scale mining and cyanide leaching
09
Cyanide leaching is used as an industrial method to recover gold from ore
10
Carbon-in-pulp (CIP) and carbon-in-leach (CIL) are common processes for adsorption of gold
11
USGS noted that gold is typically recovered by electrowinning from cyanide solution after leaching
12
Typical ore grades for some gold deposits can range from 0.3 to 5 g/t
13
Many gold deposits are classified by origin; USGS provides categories and examples
14
The USGS Minerals Yearbook provides reserve/resource estimates and geology overview for gold
15
USGS “Minerals Commodity Summaries” for gold includes reserves data and exploration notes
16
USGS “Minerals Commodity Summaries 2024” includes gold reserve estimates (t)
17
In Mineral Commodity Summaries 2024, world gold reserves were estimated at about 50,000 metric tons (reserves in yearbook)
18
USGS MCS 2024 reports world gold mine production and reserve estimates together
19
USGS MCS 2024 reports average gold content and consumption numbers per category
20
The WGC “Gold Demand Trends” notes a decline in grades at some operations
21
Global exploration for gold is a key driver for new supply; S&P Global reports on global exploration expenditures (gold)
22
In S&P Global Mine Cost Service, exploration costs are tracked as sustaining and development
23
UK British Geological Survey data show typical gold-bearing ore systems and grades
24
Geology and deposit models for gold include “orogenic” and “epithermal” per BGS
25
Gold deposits are typically associated with tectonic regimes per BGS
26
In Australia, the Department of Mines reported average resource grades for major gold camps in g/t
27
In the Canadian NI 43-101 standards, gold resources are reported with grade and tonnage; grade is expressed in g/t
28
JORC Code requires disclosure of grade (g/t) for mineral resources
Interpretation
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.
Reference
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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.
Sources & references
50 datasets cited across this report · attribution is report-level
+21 additional datasets cited (not shown individually)