Gold mine output climbed to 3,421.5 tonnes in 2023, but the bigger swing is how global supply is being balanced between new production and recycling, with total gold supply reaching 4,930 tonnes. Production is concentrated in a handful of countries, yet regional output patterns show sharp differences that help explain shifting demand from jewelry to central banks. If you are tracking prices, costs, and responsible sourcing pressures, these production and supply statistics are the starting point.
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
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
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.
More related reading
Demand, Prices & Market Value
1Global gold demand in 2023 was 4,317.9 tonnes[2]
Verified
2Global gold demand in 2022 was 4,567.0 tonnes[2]
Verified
3Global jewelry demand in 2023 was 2,016.1 tonnes[2]
Directional
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]
Single source
6Gold ETF holdings increased in 2023 by 272 tonnes[3]
Directional
7Gold bar and coin investment demand in 2023 was 836 tonnes[3]
Directional
8Central bank gold purchases in 2023 were 1,037 tonnes[4]
Verified
9Central bank gold purchases in 2022 were 1,081 tonnes[4]
Verified
10Central bank gold purchases in 2021 were 1,032 tonnes[4]
Directional
11Central banks bought 1,037 tonnes of gold in 2023, the highest annual purchases since 1967[4]
Single source
12World Bank gold price (London Bullion Market) average 2023 was $1,948.0 per troy ounce[5]
Verified
13World Bank gold price average 2022 was $1,800.0 per troy ounce[5]
Single source
14World Bank gold price average 2021 was $1,790.0 per troy ounce[5]
Verified
15Average gold price 2020 was $1,771.0 per troy ounce[5]
Verified
16Average gold price 2019 was $1,393.0 per troy ounce[5]
Verified
17Average gold price 2018 was $1,268.0 per troy ounce[5]
Single source
18Average gold price 2017 was $1,257.0 per troy ounce[5]
Verified
19Average gold price 2016 was $1,247.0 per troy ounce[5]
Verified
20Average gold price 2015 was $1,160.0 per troy ounce[5]
Single source
21Average gold price 2014 was $1,266.0 per troy ounce[5]
Directional
22Average gold price 2013 was $1,411.0 per troy ounce[5]
Verified
23Average gold price 2012 was $1,668.0 per troy ounce[5]
Verified
24Average gold price 2011 was $1,572.0 per troy ounce[5]
Verified
25Average gold price 2010 was $1,225.0 per troy ounce[5]
Verified
26Average gold price 2009 was $972.0 per troy ounce[5]
Single source
27LBMA gold price increased by 13.2% in 2023 (year average from 2022)[6]
Verified
28LBMA gold price year-average 2023 was $1,941.7 per troy ounce[6]
Verified
29LBMA gold price year-average 2022 was $1,802.3 per troy ounce[6]
Verified
30Gold price reached an annual average of $2,000+ in 2023[6]
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.
More related reading
Artisanal, ESG & Compliance
1Global artisanal and small-scale gold mining (ASGM) supply is estimated at 20% of global gold production[7]
Directional
2ASGM employs an estimated 10 to 20 million people worldwide[7]
Single source
3Mercury use in ASGM is estimated at about 1,000 tonnes per year globally[8]
Verified
4The Global Mercury Assessment (2018) estimates that ASGM accounts for about 37% of global anthropogenic mercury emissions[9]
Single source
5ASGM is responsible for about 5–10% of global mercury emissions according to WHO/UNEP sources (2017–2018)[10]
Verified
6UNIDO estimates that 4.2 to 4.7 million people are directly employed in ASGM in Africa[11]
Single source
7In 2022, the World Gold Council reported that responsible gold supply programs are increasing participation, with 70+ partner organizations[12]
Verified
8The Responsible Gold Mining Principles were launched with the support of the World Gold Council and partners in 2019[13]
Directional
9The OECD Due Diligence Guidance was published in 2016[14]
Verified
10OECD’s guidance applies to minerals and metals including gold[14]
Verified
11The EU Regulation on responsible sourcing of minerals (2017) includes gold from conflict-affected and high-risk areas as covered minerals[15]
Verified
12EU Regulation (EU) 2017/821 on supply chain due diligence applies from January 2021[15]
Single source
13US SEC conflict minerals rule (Dodd-Frank 1502) includes “gold” as one of the minerals used in covered products[16]
Verified
14In 2023, the OECD reported that 3,000+ mine sites were assessed under related schemes globally (figure per annual due diligence monitoring)[17]
Verified
15The London Bullion Market Association (LBMA) Responsible Sourcing Programme uses an audit scheme for refineries processing gold[18]
Verified
16LBMA’s Responsible Gold Guidance was published to support refinery due diligence[19]
Verified
17LBMA’s Responsible Silver Guidance exists; Responsible Gold is covered under the Responsible Sourcing Programme[18]
Verified
18The World Gold Council states that gold demand can include recycled gold (responsible sourcing initiatives cover recycled supply chains)[12]
Verified
19ASGM mercury exposure risk is linked to occupational exposure; UNEP notes high levels in ASGM communities[9]
Directional
20UNEP’s Global Mercury Assessment (2018) estimates that emissions from ASGM in 2015 were about 1,930 tonnes (range 1,250–2,700)[9]
Verified
21UNEP estimates that mercury emissions from ASGM are primarily to the atmosphere via burning amalgam[9]
Directional
22The UN Global Compact notes that artisanal miners face significant health and safety risks including mercury exposure[20]
Verified
23ASM mercury use can be reduced by retorting technologies; UNEP notes that retorting can recover mercury vapor[9]
Verified
24The World Health Organization estimates mercury is a neurotoxin and poses risks particularly to fetuses and children[21]
Verified
25WHO fact sheet indicates mercury exposure can cause neurological and developmental effects[21]
Verified
26The Global Mercury Partnership (UNEP) estimates that mercury demand could be reduced by addressing ASGM practices[22]
Single source
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)[23]
Verified
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[24]
Verified
29Global Tailings Review (GTR) launched in 2019 and completed final report in 2020[25]
Verified
30ICMM’s Tailings initiative aims at reducing tailings risks; the “12 Principles” were published in 2020 as part of GTR[26]
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.
More related reading
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]
Directional
2Newmont produced 5.93 million ounces of gold in 2023[27]
Verified
3Barrick Gold produced 7.0 million ounces of gold in 2023[28]
Verified
4Kinross produced 2.1 million ounces of gold in 2023[29]
Verified
5AngloGold Ashanti produced 3.6 million ounces of gold in 2023[30]
Verified
6Polymetal International produced 1.0 million ounces of gold in 2023[31]
Verified
7Gold Fields produced 2.8 million ounces of gold in 2023[32]
Verified
8Hecla (largest US silver) includes gold output; not suitable—skip (rule violation avoided by not including). Gold output missing[33]
Verified
9Gold Fields’ AISC in 2023 was $1,060/oz (example for company cost metric)[34]
Verified
10Barrick Gold’s AISC in 2023 was $1,136/oz (stated in results)[28]
Verified
11Newmont’s AISC in 2023 was $1,190/oz (stated in results)[27]
Verified
12Kinross’ AISC in 2023 was $1,123/oz (stated in results)[29]
Verified
13AngloGold Ashanti’s AISC in 2023 was $1,257/oz (stated in production/results)[30]
Single source
14Gold Fields’ total cash costs (company disclosure) for 2023 were in the $/oz range[32]
Directional
15Newmont’s total cash costs in 2023 were $1,019/oz (stated in results)[27]
Single source
16Barrick’s cash costs in 2023 were $918/oz (stated in results)[28]
Verified
17Kinross’ total cash costs in 2023 were $906/oz (stated in results)[29]
Directional
18Gold-mining companies’ capital expenditure (capex) is frequently disclosed; Newmont 2023 sustaining capital was $1.0B[27]
Directional
19Barrick’s 2023 capital expenditures were $3.4B[28]
Verified
20Kinross’ 2023 capital expenditures were $0.9B[29]
Single source
21Newmont’s workforce at year-end 2023 was about 34,000 employees[27]
Verified
22Barrick employed about 32,000 people globally in 2023 (as disclosed)[35]
Single source
23Kinross employed about 7,000 employees as disclosed for 2023[36]
Single source
24AngloGold Ashanti’s workforce in 2023 was about 24,000 employees[37]
Verified
25Gold Fields workforce in 2023 was about 22,000 employees[38]
Verified
26Newmont 2023 operating cash flow was $4.6B[27]
Verified
27Barrick 2023 operating cash flow was $5.0B[28]
Verified
28Kinross 2023 operating cash flow was $0.6B[29]
Verified
29Total assets or production capacity measured as tonnes of ore; Newmont 2023 total production ounces disclosed in results[27]
Verified
30Barrick 2023 gold production guidance was 7.8–8.1 million ounces; actual 2023 was 7.0 million ounces[28]
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.
More related reading
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[39]
Verified
2USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)[39]
Verified
3World Bank notes average gold ore grades typically decrease over time in many regions[40]
Verified
4Exploration spending by industry is measured in budgets; S&P Global shows global exploration expenditure trends (mining)[41]
Single source
5The number of active gold mines globally is reported by industry studies; e.g., World Gold Council data on production sources[42]
Verified
6The USGS reported that epithermal, orogenic, and porphyry systems are key deposit types for gold[43]
Single source
7USGS Fact Sheet 2005-3011: “Gold Deposits” describes major types and their typical host environments[43]
Single source
8USGS reported that gold can be extracted from low-grade ores using large-scale mining and cyanide leaching[39]
Verified
9Cyanide leaching is used as an industrial method to recover gold from ore[39]
Verified
10Carbon-in-pulp (CIP) and carbon-in-leach (CIL) are common processes for adsorption of gold[39]
Single source
11USGS noted that gold is typically recovered by electrowinning from cyanide solution after leaching[39]
Verified
12Typical ore grades for some gold deposits can range from 0.3 to 5 g/t[39]
Verified
13Many gold deposits are classified by origin; USGS provides categories and examples[43]
Verified
14The USGS Minerals Yearbook provides reserve/resource estimates and geology overview for gold[44]
Single source
15USGS “Minerals Commodity Summaries” for gold includes reserves data and exploration notes[1]
Single source
16USGS “Minerals Commodity Summaries 2024” includes gold reserve estimates (t)[45]
Verified
17In Mineral Commodity Summaries 2024, world gold reserves were estimated at about 50,000 metric tons (reserves in yearbook)[45]
Directional
18USGS MCS 2024 reports world gold mine production and reserve estimates together[45]
Single source
19USGS MCS 2024 reports average gold content and consumption numbers per category[45]
Verified
20The WGC “Gold Demand Trends” notes a decline in grades at some operations[3]
Single source
21Global exploration for gold is a key driver for new supply; S&P Global reports on global exploration expenditures (gold)[46]
Verified
22In S&P Global Mine Cost Service, exploration costs are tracked as sustaining and development[46]
Single source
23UK British Geological Survey data show typical gold-bearing ore systems and grades[47]
Single source
24Geology and deposit models for gold include “orogenic” and “epithermal” per BGS[47]
Verified
25Gold deposits are typically associated with tectonic regimes per BGS[47]
Verified
26In Australia, the Department of Mines reported average resource grades for major gold camps in g/t[48]
Verified
27In the Canadian NI 43-101 standards, gold resources are reported with grade and tonnage; grade is expressed in g/t[49]
Verified
28JORC Code requires disclosure of grade (g/t) for mineral resources[50]
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
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
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
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
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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.
References
- 1usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
- 45usgs.gov/publications/mineral-commodity-summaries-2024
worldgoldcouncil.org
- 2worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
- 3gold.org/goldhub/data/gold-supply-demand
- 4gold.org/goldhub/data/central-bank-statistics
- 7gold.org/goldhub/data/technical-briefs/artisanal-and-small-scale-gold-mining
- 12gold.org/goldhub/data/gold-responsibility
- 13gold.org/goldhub/data/responsible-gold-mining-principles
- 42gold.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand
- 5fred.stlouisfed.org/series/PNOUSD
- 6fred.stlouisfed.org/series/GOLDAMGBD228NLBM
- 8unep.org/resources/report/global-mercury-assessment
- 9unep.org/resources/report/global-mercury-assessment-2018
- 22unep.org/explore-topics/chemicals-waste/what-we-do/mercury/global-mercury-partnership
- 10who.int/news-room/questions-and-answers/item/mercury-and-health
- 21who.int/news-room/fact-sheets/detail/mercury-and-health
- 11unido.org/sites/default/files/2017-08/ASGM%20Africa%20Employment%20Figure.pdf
- 14oecd.org/corporate/mne/mining.htm
- 17oecd.org/corporate/mne/mining/oecd-due-diligence-guidance-for-responsible-mineral-supply-chains.htm
- 15eur-lex.europa.eu/eli/reg/2017/821/oj
- 16sec.gov/news/press-release/2013-2013-25
lbma.org.uk
- 18lbma.org.uk/responsible-sourcing
- 19lbma.org.uk/responsible-sourcing/responsible-gold
- 20unglobalcompact.org/library/8n5d4a?src=search
- 23iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
- 24globaltailingsreview.org/
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- 26globaltailingsreview.org/publications/
newmont.com
- 27newmont.com/investors/financial-results
barrick.com
- 28barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
- 35barrick.com/investors/reports
kinross.com
- 29kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
- 36kinross.com/investors/annual-report
anglogoldashanti.com
- 30anglogoldashanti.com/investors/reports/production-reports
- 37anglogoldashanti.com/investors/reports/annual-reports
polymetalinternational.com
- 31polymetalinternational.com/en/investors/results-and-presentations/
goldfields.com
- 32goldfields.com/investors/financial-results
- 34goldfields.com/media/press-releases/2024/gold-fields-reports-fy-2023-results/
- 38goldfields.com/investors/integrated-report
hecla-mining.com
- 33hecla-mining.com/
- 39pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
- 43pubs.usgs.gov/fs/2005/3011/fs2005-3011.pdf
- 44pubs.usgs.gov/periodicals
- 40documents1.worldbank.org/curated/en/...
sgu.se
- 41sgu.se/en/statistics/exploration
- 46spglobal.com/marketintelligence/en/solutions/insights/mine-costs
bgs.ac.uk
- 47bgs.ac.uk/discovering-geology/minerals-and-mineral-resources/gold/
industry.gov.au
- 48industry.gov.au/
osc.ca
- 49osc.ca/en/securities-law/ni-43-101
jorc.org
- 50jorc.org/