Quoting from rt.com, gold supply community groups are in the red zone. This is because the amount of gold continues to decline and there is no substitute for it.
Mining companies also have difficulty finding new gold mine reserves to replace old gold mines.
This is supported by Rudy Fronk, CEO of Seabridge Gold. He said that the peak of gold’s heyday was facing a new reality in the gold business with gold reserves depleting faster than replacements for these reserves.
Meanwhile, Kevin Dushnisky, President of Barrick Gold, has the view that the drop in gold production levels is due to the lack of discovery of new gold reserves.
Then, how many gold mines are there in the world? The following are countries with the largest gold mines in the world and their rankings.
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China
Recorded the amount of gold production every year is around 450 tons. Gold production figures in China account for 13% of global gold production.
This is not surprising, because the main gold mines in China are scattered in the Shindong, Henan, Jiangxi, Yunnan, and Fuju areas. China even still has gold reserves of around 1,900 tons.
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Australia
Australia is ranked the second largest gold producing country in the world with 300 tonnes of gold production annually. Australia’s gold reserves are estimated at 9,800 tonnes, and Australian gold mines are found in Western Australia, South Australia and New South Wales.
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Russia
Most of the Russian gold mines can be found in many regions such as Amur, Irkutsk, Khabarovsk, Krasnoyarsk, Magadan and Sakha-Yakutia. Russia is able to produce about 255 tons of gold each year and this gold production rate increases from year to year.
The gold produced by Russia supports 83% of the gold demand in Europe. Thus making Russia the third country with the largest gold production in the world. Its own gold reserves are estimated at 5,000 tons.
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United States
Gold mines in America are scattered in America, such as Nevada, Alaska, California, Colorado and South Dakota. Each year the United States produces about 211 tonnes of gold, making this superpower ranked fourth with the largest gold production in the world. The United States still has an estimated 3,000 tonnes of gold reserves.
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Canada
Canada is able to produce about 160 tons of gold each year and more than 10 gold mines are mainly spread in the Ontario region. It is estimated that the existing gold reserves in Canada are around 2,000 tons.
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Indonesia
Indonesia itself has gold reserves of around 1,132 tons. This amount is able to beat the amount of gold reserves owned by Japan and Switzerland.
Gold mines in Indonesia are spread across several parts of the archipelago and one of the largest mines is the Grasberg gold mine in Papua.
