Real Assets
The World’s Top 10 Gold Mining Companies
The World’s Top 10 Gold Mining Companies
Unlike paper currency or many other types of assets, gold has maintained its value throughout the ages.
First used by cultures in modern-day Eastern Europe in 4,000 BC to make decorative objects, the metal today represents a global business with operations on every continent, except Antarctica.
The industry is dominated by a select group of majors.
Together, the world’s top 10 gold miners produced 27.48 million ounces (Moz) in 2020, worth approximately $48 billion, according to data from Mining Intelligence.
North America Leading
At a country level, China is the largest producer in the world accounting for around 11% of total global production.
However, no Chinese company appears among the top miners.
Rank | Company | Headquarters | Country | 2020 Production (Moz) |
---|---|---|---|---|
1 | Newmont | Denver | USA 🇺🇸 | 5.88 |
2 | Barrick Gold | Toronto | Canada 🇨🇦 | 4.84 |
3 | Polyus | Moscow | Russia 🇷🇺 | 2.87 |
4 | AngloGold Ashanti | Johannesburg | South Africa 🇿🇦 | 2.81 |
5 | Kinross Gold | Toronto | Canada 🇨🇦 | 2.38 |
6 | Gold Fields | Johannesburg | South Africa 🇿🇦 | 2.13 |
7 | Newcrest Mining | Melbourne | Australia 🇦🇺 | 2.06 |
8 | Agnico Eagle | Toronto | Canada 🇨🇦 | 1.73 |
9 | Polymetal International | St. Petersburg | Russia 🇷🇺 | 1.40 |
10 | Harmony Gold | Johannesburg | South Africa 🇿🇦 | 1.38 |
At the top of the gold mining companies list, Colorado-based Newmont has ownership of mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname.
As the only American company on the list, Newmont produces 21% of the yellow metal poured by the top companies.
Canada, which is known for its mining industry, has three companies on the list; Barrick Gold, Kinross Gold, and Agnico Eagle, producing 32% combined.
Russia, which is expected to become the world’s top producer by 2029, has two companies ranked. Together, Polyus and Polymetal represent 15% of the top miners’ production.
The top 10 players account for ~22% of the total market share, which is anticipated to grow due to increased merger and acquisition activities.
Wealth and Luxury
Over six and a half thousand years after its discovery, more than 90% of the gold mined annually is destined for jewelry, bullion, and coins.
- Jewelry: 36.83%,
- Investment: 46.64%,
- Central banks: 8.58%,
- Technology: 7.95%
The metal is also used in dentistry, as it is the best material for fillings and crowns since it is easy to insert, and is non-reactive with the human body.
Golden Future
Global production fell by 1% in 2020, the first decline in a decade, according to the World Gold Council.
Some analysts argue the world has reached “peak gold” – which means that the maximum rate of extraction has passed and the production of the metal will continue to fall until, eventually, mining for it shall cease entirely.
Demand, however, shows no sign of slowing down as the golden metal remains firmly synonymous with security, stability, and longevity.
Real Assets
All the Metals We Mined in One Visualization
This infographic visualizes the 2.8 billion tonnes of metals mined in 2022.

All the Metals We Mined in One Visualization
Metals are a big part of our daily lives, found in every building we enter and all devices we use.
Today, major industries that directly consume processed mineral materials contribute 14% of the United States economy.
The above infographic visualizes all 2.8 billion tonnes of metals mined in 2022 and highlights each metal’s largest end-use using data from the United States Geological Survey (USGS).
Iron Ore Dominance
Iron ore dominates the metals mining landscape, comprising 93% of the total mined. In 2022, 2.6 billion tonnes of iron ore were mined, containing about 1.6 billion tonnes of iron.
Metal/Ore | Quantity Mined in 2022 (tonnes) | % of Total |
---|---|---|
Iron ore | 2,600,000,000 | 93.3% |
Industrial metals | 185,111,835 | 6.6% |
Technology and Precious Metals | 1,500,008 | 0.05% |
Total | 2,786,611,843 | 100% |
Percentages may not add up to 100 due to rounding.
Iron ores are found in various geologic environments, such as igneous, metamorphic, or sedimentary rocks, and can contain over 70% iron, with many falling in the 50-60% range.
Combined with other materials like coke and limestone, iron ore is primarily used in steel production. Today, almost all (98%) iron ore is dedicated to steelmaking.
The ore is typically mined in about 50 countries, but Australia, Brazil, China, and India are responsible for 75% of the production.
Because of its essential role in infrastructure development, iron ore is one of the most crucial materials underpinning urbanization and economic growth.
Industrial Metals
Industrial metals occupy the second position on our list, constituting 6.6% of all metals mined in 2022. These metals, including copper, aluminum, lead, and zinc, are employed in construction and industrial applications.
Aluminum constituted nearly 40% of industrial metal production in 2022. China was responsible for 56% of all aluminum produced.
Industrial Metals | 2022 Mine Production (tonnes) | % of Total |
---|---|---|
Aluminum | 69,000,000 | 37.3% |
Chromium | 41,000,000 | 22.1% |
Copper | 22,000,000 | 11.9% |
Manganese | 20,000,000 | 10.8% |
Zinc | 13,000,000 | 7.0% |
Titanium (mineral concentrates) | 9,500,000 | 5.1% |
Lead | 4,500,000 | 2.4% |
Nickel | 3,300,000 | 1.8% |
Zirconium Minerals (Zircon) | 1,400,000 | 0.8% |
Magnesium | 1,000,000 | 0.5% |
Strontium | 340,000 | 0.2% |
Uranium | 49,355 | 0.03% |
Bismuth | 20,000 | 0.01% |
Mercury | 2,200 | 0.00% |
Beryllium | 280 | 0.00% |
Total | 185,111,835 | 100% |
In the second position is chromium, which plays a primary role in rendering stainless steel corrosion-resistant. South Africa led chromium production, accounting for 44% of the total mined last year.
Technology and Precious Metals
Despite representing less than 1% of all the metals mined, technology metals have been on the news over the last few years as countries and companies seek these materials to reduce carbon emissions and improve productivity.
Technology and Precious Metals | 2022 Mine Production (tonnes) | % of Total |
---|---|---|
Tin | 310,000 | 20.7% |
Rare Earth Oxides | 300,000 | 20.0% |
Molybdenum | 250,000 | 16.7% |
Cobalt | 190,000 | 12.7% |
Lithium | 130,000 | 8.7% |
Vanadium | 100,000 | 6.7% |
Tungsten | 84,000 | 5.6% |
Niobium | 79,000 | 5.3% |
Silver | 26,000 | 1.7% |
Cadmium | 24,000 | 1.6% |
Gold | 3,100 | 0.2% |
Tantalum | 2,000 | 0.1% |
Indium | 900 | 0.1% |
Gallium | 550 | 0.04% |
Platinum Group Metals | 400 | 0.03% |
Rhenium | 58 | 0.004% |
Total | 1,500,008 | 100% |
They include lithium and cobalt, used in electric vehicles and battery storage, and rare earths, used in magnets, metal alloys, and electronics. Many of them are considered critical for countries’ security due to their role in clean energy technologies and dependency on other nations to supply domestic demand.
However, despite increasing interest in these metals, they are still behind precious metals such as gold and silver regarding market size.
The gold market, for example, reached $196 billion in 2022, compared to $10.6 billion for the rare earths market.
Real Assets
Visualizing Mining’s Footprint in British Columbia
Mining represents 7% of British Columbia’s GDP despite only accounting for 0.04% of the land use.

Visualizing Mining’s Footprint in British Columbia
British Columbia is considered a global leader in the development of socially and environmentally responsible resources.
An estimated 54% of the province’s total land is protected, making it one of the world’s greenest mining hubs.
This graphic by the B.C. Regional Mining Alliance (BCRMA) details mining’s footprint in the province.
A Tier 1 Jurisdiction for Mining
British Columbia covers almost 95 million hectares (234 million acres), more than any European country except Russia, and more than any U.S. state except Alaska.
As the largest mining province in Canada, BC registered $18 billion in revenue from the industry in 2022.
British Columbia stands as Canada’s sole producer of molybdenum, which finds applications in metallurgy and chemistry. Additionally, B.C. is the country’s leader producer of copper and steelmaking coal, besides gold and silver.
At the heart of British Columbia’s mining industry lies the Golden Triangle, one of the hottest mineral exploration districts in the world.
More than 150 mines have operated in the area since prospectors first arrived at the end of the 19th century. The region alone is endowed with minerals worth more than $800 billion.
How Green is B.C. Mining
Mining represents 7% of the province’s Gross Domestic Product (GDP), despite only accounting for 0.04% of the land use. In comparison, farmland demands 3% of the land, bringing $2.1 billion (0.8%) per year.
Land Use in B.C. | Revenue (2022, CAD $) | |
---|---|---|
Mining | 0.04% | $18.0 billion |
Oil & Gas | 0.4% | $9.5 billion |
Infrastructure | 1% | $25.0 billion |
Farmland | 3% | $2.1 billion |
Forest | 62% | $13.3 billion |
Mining operations are also supported by a stable, transparent, and effective policy environment. The province ranked as the world’s least risky for mining in 2017 and 2018.
In addition, mineral exploration has received ample support from local Indigenous communities. Today, mining accounts for over two-thirds of all indigenous people employed in the extractives sector.
According to the International Energy Agency, up to six times more minerals and metals will be needed by 2040 to accelerate the energy transition.
In this scenario, British Columbia is well positioned to support the transition to a low-carbon future and make a significant contribution to climate action.
The BCRMA is a strategic partnership between indigenous groups, industry, and government representatives that aims to promote B.C.’s mining opportunities internationally.
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