Which Countries Have the Most Gold? Ranking the Top 7 Global Producers

Australia is the world’s leading gold producer, extracting an astounding 12,000 tons of gold in 2023.

Gold, a precious and rare metal, has long been a cornerstone of the global economy. It’s valued for its financial significance and also holds cultural importance as a symbol of wealth and prosperity. As an asset, it provides security for investors and serves as a valuable heirloom for many families. But which countries hold the largest gold reserves? Let’s dive into the top 7 nations with the most abundant gold deposits.

1. Australia

Australia is the world’s leading gold producer, extracting an astounding 12,000 tons of gold in 2023. Gold exports make up over 50% of Australia’s total exports, contributing approximately 8% to its GDP. Major gold mining sites such as Newmont’s Boddington and Tanami mines, along with Newcrest’s Cadia mine, keep Australia at the top of the global gold production rankings.

2. Russia

Russia follows closely behind with 11,100 tons of gold mined in 2023. As Europe’s leading supplier of gold since 2010, Russia consumes a large portion of its production domestically, unlike Australia, which largely focuses on exports. Key gold mining regions in Russia include the Olimpiada mine in Siberia, as well as the Blagodatnoye, Natalka, and Kupol mines.

3. South Africa

South Africa remains Africa’s largest gold producer, despite not being among the world’s top producers. In 2023, the country mined 5,000 tons of gold. The East Rand mine in Boksburg is South Africa’s largest, while other significant mines like South Deep, Kloof, Driefontein, and Mponeng contribute to the country’s gold output.

4. United States

The United States produced 3,000 tons of gold in 2023, with Nevada and Colorado being the primary contributors. Nevada alone was responsible for 80% of U.S. gold production in 2021. Additionally, Alaska also plays a key role in gold extraction, and in 2021, the U.S. exported $9 billion worth of gold, emphasizing its importance in the global gold market.

5. China

China, another major gold producer, mined 3,000 tons of gold in 2023. The country is home to significant gold mining operations, including Shaxi Copper, Sanshando, Dexing, and Yixingzhai. In 2024, a remarkable discovery of 1,000 metric tons of gold was made in the Human region, valued at nearly $82 billion, reinforcing China’s status as a global gold leader.

6. Indonesia

Indonesia is home to the Grasberg mine in Papua, one of the largest gold mines in the world. The country produced 2,600 tons of gold in 2023. Other important gold deposits include the Deep Mill Level Zone and the Martable project, further establishing Indonesia as a key player in the global gold production sector.

7. Canada

Canada, a prominent gold producer, extracted approximately 1,100 tons of gold in 2023. The Canadian Malartic mine, the country’s largest, along with other important sites like Detour Lake and Hemlo mines, help Canada maintain a strong position in the global gold market. Quebec and Ontario are particularly rich in gold deposits, contributing to the nation’s robust gold production.