To date, around 244, 000 metric tons of gold (187, 000 metric tons produced historically plus current underground reserves of 57, 000 metric tons) have been discovered. The single greatest source of gold in history has been South Africa's Witwatersrand basin. Witwatersrand represents approximately 30% of all the gold that has been mined. Australia is far ahead as the country with the largest gold mine reserves in the world, with 10,000 tons.
Russia ranks second on the USGS list of countries with the largest gold mine reserves in the world, with 5,300 tons, almost half the amount of Australia. It has 24 million ounces of proven and probable reserves, with up to 39 million ounces of measured, indicated and inferred mineral resources. In third place on the list of the largest gold mining reserves is South Africa, with 3,200 tons. South Africa is home to Gold Field's South Deep gold mine, which is the largest facility of its kind in the world with 32.8 million ounces of mineral reserves.
The United States is the country with the fourth largest gold mining reserves in the world, with 3000 tons. Newmont's Carlin Trend mine in Nevada is the sixth largest gold plant in the world, while Barrick's Cortez mine, which is also located in Nevada, ranks tenth on the list. Indonesia ranks fifth in the list of countries with the largest gold mine reserves in the world, with 2,600 tons. Hastings to acquire the remaining 30% stake in the Yangibana rare earth project.
The two largest gold deposits are located in India and Africa. For many years, China has been the leading producer country, accounting for 11 percent of the world's mining production. However, production fell from 383 tons to 368 tons last year, representing the fourth consecutive year of declines. The downward trend is largely due to stricter environmental policies imposed by the government.
For example, tighter control over the use of cyanide in gold mines has forced several operations to reduce production. In terms of companies, Nevada Gold Mines, which is majority-owned by Barrick Gold, is the largest gold mining complex in the world and produces around 3.5 million ounces a year. South India has gold deposits because it has the second deepest underground gold mine in the world, located in the Kolar region. For example, most gold occurs in native form, that is, pure or almost pure, and most gold is not visibly crystalline.
Primary gold is often what is found in rock formations, which ultimately become mines if there is a substantial amount of gold. The oceans are the largest single gold deposit on the Earth's surface and contain approximately eight times the total amount of gold mined to date. Livermore found the first invisible gold at Carlin Trend, and subsequent discoveries in Macedonia and China were called Carlin-type gold deposits. Gold production is completely dominated by Carlin Trend in the state of Nevada and accounts for more than 80% of gold production in the United States.
The Polyus Gold Olympiad gold mine in the Krasnoyarsk region of Eastern Siberia (Russia) is the third largest operational gold deposit in the world. Gold mining is a global business with operations on all continents, except Antarctica, and gold is extracted from mines of a wide variety of types and scales. . The country's main gold mine was Canadian Malartic, co-owned by Yamana Gold and Agnico Eagle, which produced more than 16 tons last year.
While gold prices reached an all-time high in August, this does not automatically translate into an increase in gold mining activity. .