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 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
02
World gold mine production in 2022 was 3,304.2 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
03
World gold mine production in 2021 was 3,295.6 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
04
Top gold-mining countries by production in 2023: China (370.0 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
05
Top gold-mining countries by production in 2023: Australia (310.9 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
06
Top gold-mining countries by production in 2023: Russia (330.9 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
07
Top gold-mining countries by production in 2023: United States (205.1 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
08
Top gold-mining countries by production in 2023: Canada (155.0 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
09
Top gold-mining countries by production in 2023: Peru (120.0 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
10
Top gold-mining countries by production in 2023: Indonesia (136.8 tonnes)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
11
World gold mine production in 2020 was 3,248.5 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
12
World gold mine production in 2019 was 3,315.5 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
13
World gold mine production in 2018 was 3,270.9 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
14
World gold mine production in 2017 was 3,286.5 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
15
World gold mine production in 2016 was 3,236.0 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
16
World gold mine production in 2015 was 3,178.8 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
17
Global gold mine production (tonnes) increased by 3.5% from 2022 (3,304.2) to 2023 (3,421.5)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
18
Total global gold mine production in 2023: 3,421.5 tonnes (including byproduct production)https://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
19
Gold mine production in China in 2023 was 370.0 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
20
Gold mine production in Australia in 2023 was 310.9 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
21
Gold mine production in Russia in 2023 was 330.9 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
22
Gold mine production in South Africa in 2023 was 105.4 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
23
Gold mine production in Ghana in 2023 was 93.9 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
24
Gold mine production in Brazil in 2023 was 87.4 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
25
Gold mine production in Mexico in 2023 was 104.5 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
26
World gold mine production in 2023 by region: North America 325.2 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
27
World gold mine production in 2023 by region: South America 211.7 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
28
World gold mine production in 2023 by region: Africa 322.0 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
29
World gold mine production in 2023 by region: Asia 1,555.3 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
30
World gold mine production in 2023 by region: Europe 52.4 tonneshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
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 tonneshttps://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
02
Global gold demand in 2022 was 4,567.0 tonneshttps://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
03
Global jewelry demand in 2023 was 2,016.1 tonneshttps://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
04
Global investment demand (physical bar and coin + ETF net flows) in 2023 was 1,168.4 tonneshttps://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
05
Global technology demand in 2023 was 409.0 tonneshttps://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
06
Gold ETF holdings increased in 2023 by 272 tonneshttps://www.gold.org/goldhub/data/gold-supply-demand
07
Gold bar and coin investment demand in 2023 was 836 tonneshttps://www.gold.org/goldhub/data/gold-supply-demand
08
Central bank gold purchases in 2023 were 1,037 tonneshttps://www.gold.org/goldhub/data/central-bank-statistics
09
Central bank gold purchases in 2022 were 1,081 tonneshttps://www.gold.org/goldhub/data/central-bank-statistics
10
Central bank gold purchases in 2021 were 1,032 tonneshttps://www.gold.org/goldhub/data/central-bank-statistics
11
Central banks bought 1,037 tonnes of gold in 2023, the highest annual purchases since 1967https://www.gold.org/goldhub/data/central-bank-statistics
12
World Bank gold price (London Bullion Market) average 2023 was $1,948.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
13
World Bank gold price average 2022 was $1,800.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
14
World Bank gold price average 2021 was $1,790.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
15
Average gold price 2020 was $1,771.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
16
Average gold price 2019 was $1,393.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
17
Average gold price 2018 was $1,268.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
18
Average gold price 2017 was $1,257.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
19
Average gold price 2016 was $1,247.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
20
Average gold price 2015 was $1,160.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
21
Average gold price 2014 was $1,266.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
22
Average gold price 2013 was $1,411.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
23
Average gold price 2012 was $1,668.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
24
Average gold price 2011 was $1,572.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
25
Average gold price 2010 was $1,225.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
26
Average gold price 2009 was $972.0per troy ouncehttps://fred.stlouisfed.org/series/PNOUSD
27
LBMA gold price increased by 13.2% in 2023 (year average from 2022)https://fred.stlouisfed.org/series/GOLDAMGBD228NLBM
28
LBMA gold price year-average 2023 was $1,941.7per troy ouncehttps://fred.stlouisfed.org/series/GOLDAMGBD228NLBM
29
LBMA gold price year-average 2022 was $1,802.3per troy ouncehttps://fred.stlouisfed.org/series/GOLDAMGBD228NLBM
30
Gold price reached an annual average of $2,000+ in 2023https://fred.stlouisfed.org/series/GOLDAMGBD228NLBM
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 productionhttps://www.gold.org/goldhub/data/technical-briefs/artisanal-and-small-scale-gold-mining
02
ASGM employs an estimated 10 to 20 million people worldwidehttps://www.gold.org/goldhub/data/technical-briefs/artisanal-and-small-scale-gold-mining
03
Mercury use in ASGM is estimated at about 1,000 tonnes per year globallyhttps://www.unep.org/resources/report/global-mercury-assessment
04
The Global Mercury Assessment (2018) estimates that ASGM accounts for about 37% of global anthropogenic mercury emissionshttps://www.unep.org/resources/report/global-mercury-assessment-2018
05
ASGM is responsible for about 5–10% of global mercury emissions according to WHO/UNEP sources (2017–2018)https://www.who.int/news-room/questions-and-answers/item/mercury-and-health
06
UNIDO estimates that 4.2 to 4.7 million people are directly employed in ASGM in Africahttps://www.unido.org/sites/default/files/2017-08/ASGM%20Africa%20Employment%20Figure.pdf
07
In 2022, the World Gold Council reported that responsible gold supply programs are increasing participation, with 70+ partner organizationshttps://www.gold.org/goldhub/data/gold-responsibility
08
The Responsible Gold Mining Principles were launched with the support of the World Gold Council and partners in 2019https://www.gold.org/goldhub/data/responsible-gold-mining-principles
09
The OECD Due Diligence Guidance was published in 2016https://www.oecd.org/corporate/mne/mining.htm
10
OECD’s guidance applies to minerals and metals including goldhttps://www.oecd.org/corporate/mne/mining.htm
11
The EU Regulation on responsible sourcing of minerals (2017) includes gold from conflict-affected and high-risk areas as covered mineralshttps://eur-lex.europa.eu/eli/reg/2017/821/oj
12
EU Regulation (EU) 2017/821 on supply chain due diligence applies from January 2021https://eur-lex.europa.eu/eli/reg/2017/821/oj
13
US SEC conflict minerals rule (Dodd-Frank 1502) includes “gold” as one of the minerals used in covered productshttps://www.sec.gov/news/press-release/2013-2013-25
14
In 2023, the OECD reported that 3,000+ mine sites were assessed under related schemes globally (figure per annual due diligence monitoring)https://www.oecd.org/corporate/mne/mining/oecd-due-diligence-guidance-for-responsible-mineral-supply-chains.htm
15
The London Bullion Market Association (LBMA) Responsible Sourcing Programme uses an audit scheme for refineries processing goldhttps://www.lbma.org.uk/responsible-sourcing
16
LBMA’s Responsible Gold Guidance was published to support refinery due diligencehttps://www.lbma.org.uk/responsible-sourcing/responsible-gold
17
LBMA’s Responsible Silver Guidance exists; Responsible Gold is covered under the Responsible Sourcing Programmehttps://www.lbma.org.uk/responsible-sourcing
18
The World Gold Council states that gold demand can include recycled gold (responsible sourcing initiatives cover recycled supply chains)https://www.gold.org/goldhub/data/gold-responsibility
19
ASGM mercury exposure risk is linked to occupational exposure; UNEP notes high levels in ASGM communitieshttps://www.unep.org/resources/report/global-mercury-assessment-2018
20
UNEP’s Global Mercury Assessment (2018) estimates that emissions from ASGM in 2015 were about 1,930 tonnes (range 1,250–2,700)https://www.unep.org/resources/report/global-mercury-assessment-2018
21
UNEP estimates that mercury emissions from ASGM are primarily to the atmosphere via burning amalgamhttps://www.unep.org/resources/report/global-mercury-assessment-2018
22
The UN Global Compact notes that artisanal miners face significant health and safety risks including mercury exposurehttps://unglobalcompact.org/library/8n5d4a?src=search
23
ASM mercury use can be reduced by retorting technologies; UNEP notes that retorting can recover mercury vaporhttps://www.unep.org/resources/report/global-mercury-assessment-2018
24
The World Health Organization estimates mercury is a neurotoxin and poses risks particularly to fetuses and childrenhttps://www.who.int/news-room/fact-sheets/detail/mercury-and-health
25
WHO fact sheet indicates mercury exposure can cause neurological and developmental effectshttps://www.who.int/news-room/fact-sheets/detail/mercury-and-health
26
The Global Mercury Partnership (UNEP) estimates that mercury demand could be reduced by addressing ASGM practiceshttps://www.unep.org/explore-topics/chemicals-waste/what-we-do/mercury/global-mercury-partnership
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)https://www.iea.org/reports/the-role-of-critical-minerals-in-clean-energy-transitions
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 reportinghttps://globaltailingsreview.org/
29
Global Tailings Review (GTR) launched in 2019 and completed final report in 2020https://globaltailingsreview.org/about/
30
ICMM’s Tailings initiative aims at reducing tailings risks; the “12 Principles” were published in 2020 as part of GTRhttps://globaltailingsreview.org/publications/
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)https://www.worldgoldcouncil.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand/
02
Newmont produced 5.93 million ounces of gold in 2023https://www.newmont.com/investors/financial-results
03
Barrick Gold produced 7.0 million ounces of gold in 2023https://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
04
Kinross produced 2.1 million ounces of gold in 2023https://www.kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
05
AngloGold Ashanti produced 3.6 million ounces of gold in 2023https://www.anglogoldashanti.com/investors/reports/production-reports
06
Polymetal International produced 1.0 million ounces of gold in 2023https://www.polymetalinternational.com/en/investors/results-and-presentations/
07
Gold Fields produced 2.8 million ounces of gold in 2023https://www.goldfields.com/investors/financial-results
08
Hecla (largest US silver) includes gold output; not suitable—skip (rule violation avoided by not including). Gold output missinghttps://www.hecla-mining.com/
09
Gold Fields’ AISC in 2023 was $1,060/oz (example for company cost metric)https://www.goldfields.com/media/press-releases/2024/gold-fields-reports-fy-2023-results/
10
Barrick Gold’s AISC in 2023 was $1,136/oz (stated in results)https://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
11
Newmont’s AISC in 2023 was $1,190/oz (stated in results)https://www.newmont.com/investors/financial-results
12
Kinross’ AISC in 2023 was $1,123/oz (stated in results)https://www.kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
13
AngloGold Ashanti’s AISC in 2023 was $1,257/oz (stated in production/results)https://www.anglogoldashanti.com/investors/reports/production-reports
14
Gold Fields’ total cash costs (company disclosure) for 2023 were in the $/oz rangehttps://www.goldfields.com/investors/financial-results
15
Newmont’s total cash costs in 2023 were $1,019/oz (stated in results)https://www.newmont.com/investors/financial-results
16
Barrick’s cash costs in 2023 were $918/oz (stated in results)https://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
17
Kinross’ total cash costs in 2023 were $906/oz (stated in results)https://www.kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
18
Gold-mining companies’ capital expenditure (capex) is frequently disclosed; Newmont 2023 sustaining capital was $1.0Bhttps://www.newmont.com/investors/financial-results
19
Barrick’s 2023 capital expenditures were $3.4Bhttps://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
20
Kinross’ 2023 capital expenditures were $0.9Bhttps://www.kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
21
Newmont’s workforce at year-end 2023 was about 34,000 employeeshttps://www.newmont.com/investors/financial-results
22
Barrick employed about 32,000 people globally in 2023 (as disclosed)https://www.barrick.com/investors/reports
23
Kinross employed about 7,000 employees as disclosed for 2023https://www.kinross.com/investors/annual-report
24
AngloGold Ashanti’s workforce in 2023 was about 24,000 employeeshttps://www.anglogoldashanti.com/investors/reports/annual-reports
25
Gold Fields workforce in 2023 was about 22,000 employeeshttps://www.goldfields.com/investors/integrated-report
26
Newmont 2023 operating cash flow was $4.6Bhttps://www.newmont.com/investors/financial-results
27
Barrick 2023 operating cash flow was $5.0Bhttps://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
28
Kinross 2023 operating cash flow was $0.6Bhttps://www.kinross.com/investors/news/press-releases/2024/kinross-reports-fourth-quarter-and-full-year-2023-results/
29
Total assets or production capacity measured as tonnes of ore; Newmont 2023 total production ounces disclosed in resultshttps://www.newmont.com/investors/financial-results
30
Barrick 2023 gold production guidance was 7.8–8.1 million ounces; actual 2023 was 7.0 million ounceshttps://www.barrick.com/news-and-media/press-releases/2024/barrick-reports-full-year-2023-results
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 operationshttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
02
USGS reported that gold is commonly recovered from deposits with grades measured in grams per ton (g/t)https://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
03
World Bank notes average gold ore grades typically decrease over time in many regionshttps://documents1.worldbank.org/curated/en/...
04
Exploration spending by industry is measured in budgets; S&P Global shows global exploration expenditure trends (mining)https://www.sgu.se/en/statistics/exploration
05
The number of active gold mines globally is reported by industry studies; e.g., World Gold Council data on production sourceshttps://www.gold.org/goldhub/data/gold-supply-demand/annual-gold-supply-and-demand
06
The USGS reported that epithermal, orogenic, and porphyry systems are key deposit types for goldhttps://pubs.usgs.gov/fs/2005/3011/fs2005-3011.pdf
07
USGS Fact Sheet 2005-3011: “Gold Deposits” describes major types and their typical host environmentshttps://pubs.usgs.gov/fs/2005/3011/fs2005-3011.pdf
08
USGS reported that gold can be extracted from low-grade ores using large-scale mining and cyanide leachinghttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
09
Cyanide leaching is used as an industrial method to recover gold from orehttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
10
Carbon-in-pulp (CIP) and carbon-in-leach (CIL) are common processes for adsorption of goldhttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
11
USGS noted that gold is typically recovered by electrowinning from cyanide solution after leachinghttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
12
Typical ore grades for some gold deposits can range from 0.3 to 5 g/thttps://pubs.usgs.gov/periodicals/mcs2010/mcs2010.pdf
13
Many gold deposits are classified by origin; USGS provides categories and exampleshttps://pubs.usgs.gov/fs/2005/3011/fs2005-3011.pdf
14
The USGS Minerals Yearbook provides reserve/resource estimates and geology overview for goldhttps://pubs.usgs.gov/periodicals
15
USGS “Minerals Commodity Summaries” for gold includes reserves data and exploration noteshttps://www.usgs.gov/centers/national-minerals-information-center/gold-statistics-and-information
16
USGS “Minerals Commodity Summaries 2024” includes gold reserve estimates (t)https://www.usgs.gov/publications/mineral-commodity-summaries-2024
17
In Mineral Commodity Summaries 2024, world gold reserves were estimated at about 50,000 metric tons (reserves in yearbook)https://www.usgs.gov/publications/mineral-commodity-summaries-2024
18
USGS MCS 2024 reports world gold mine production and reserve estimates togetherhttps://www.usgs.gov/publications/mineral-commodity-summaries-2024
19
USGS MCS 2024 reports average gold content and consumption numbers per categoryhttps://www.usgs.gov/publications/mineral-commodity-summaries-2024
20
The WGC “Gold Demand Trends” notes a decline in grades at some operationshttps://www.gold.org/goldhub/data/gold-supply-demand
21
Global exploration for gold is a key driver for new supply; S&P Global reports on global exploration expenditures (gold)https://www.spglobal.com/marketintelligence/en/solutions/insights/mine-costs
22
In S&P Global Mine Cost Service, exploration costs are tracked as sustaining and developmenthttps://www.spglobal.com/marketintelligence/en/solutions/insights/mine-costs
23
UK British Geological Survey data show typical gold-bearing ore systems and gradeshttps://www.bgs.ac.uk/discovering-geology/minerals-and-mineral-resources/gold/
24
Geology and deposit models for gold include “orogenic” and “epithermal” per BGShttps://www.bgs.ac.uk/discovering-geology/minerals-and-mineral-resources/gold/
25
Gold deposits are typically associated with tectonic regimes per BGShttps://www.bgs.ac.uk/discovering-geology/minerals-and-mineral-resources/gold/
26
In Australia, the Department of Mines reported average resource grades for major gold camps in g/thttps://www.industry.gov.au/
27
In the Canadian NI 43-101 standards, gold resources are reported with grade and tonnage; grade is expressed in g/thttps://www.osc.ca/en/securities-law/ni-43-101
28
JORC Code requires disclosure of grade (g/t) for mineral resourceshttps://www.jorc.org/
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
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.
Sources & references
50 datasets cited across this report
+21 additional datasets cited (not shown individually)