Gold mining – where and how is gold mined around the world?

Gold mining is a fascinating and complex process carried out in various parts of the globe, using constantly improving technologies. Where exactly is this precious metal extracted, and what techniques dominate modern gold mining? You will find the answers below — we invite you to read on!

Table of contents

• Where is most gold mined in the world, and which countries dominate production?
• What are the largest gold deposits in individual countries and the gold reserves on Earth?
• What methods of gold mining are used around the world?
• What are the forecasts for the future of gold mining and investing in gold?

Where is most gold mined in the world, and which countries dominate production?

For years, China has maintained its position as the world leader in gold mining, accounting for a significant portion of global production (historically hovering around 10-12%). Its mining sector is characterized by both large, modernized mines and many smaller operations.

The following countries are also regularly ranked among the world's leading gold producers:

• Australia – with significant deposits and advanced mining technologies.
• Russia – rich in resources and consistently increasing production.
• The United States – mainly thanks to deposits in Nevada (e.g., Carlin Trend).
• Canada – with a developed mining sector and numerous mines.

Countries such as Peru, Mexico, Indonesia, Uzbekistan, Ghana, and Brazil also play an important role in the market. South Africa, once the absolute leader thanks to the giant Witwatersrand deposits, now produces significantly less gold, but remains an important player due to its historical resources and existing infrastructure. Countries such as Papua New Guinea also contribute to global supply, often thanks to investments by international corporations.

Global gold mining is supported by the activities of large international mining corporations such as Newmont Corporation, Barrick Gold, AngloGold Ashanti, Polyus, Kinross Gold, Gold Fields, as well as major state-owned enterprises such as Uzbekistan's Navoi Mining and Metallurgy Combinat (NMMC). The activities of these companies are crucial to the supply of gold on global markets, as confirmed by analyses from industry organizations such as the World Gold Council and geological data (e.g., US Geological Survey).

What are the largest gold deposits in individual countries and the gold reserves on Earth?

There are many significant gold deposits around the world that have shaped the map of gold mining over the years:

• In South Africa, the Witwatersrand region is legendary; historically, it has supplied a huge proportion of the world's gold (estimated at up to 40-50% of all gold mined by humankind), although its share of current production is much smaller due to the depletion of easily accessible deposits and the rising costs of deep mining.
• In the US, a key area is the Carlin Trend in Nevada, one of the richest gold-bearing regions in the world, characterized by microscopic gold deposits (invisible to the naked eye).
• Uzbekistan owes its position to the giant Muruntau open-pit mine, considered one of the largest in the world in terms of resources and production.
• In Australia, one of the important mining complexes is Super Pit in Kalgoorlie (although its operation is evolving), and the country has numerous other significant mines.
• Other significant deposits include Grasberg in Indonesia (where gold is a by-product of copper mining) and Yanacocha in Peru.

Geological conditions and historical discoveries have a significant impact on the location and development of deposits. According to data from the US Geological Survey (from recent years), global gold reserves (i.e., the portion of resources that is economically viable to extract at current prices and technologies) are estimated at approximately 50,000-60,000 tons. The total gold resources in the Earth's crust are much greater, but their extraction is currently unprofitable. It is also worth noting that although Poland is not one of the largest producers, mineralogical studies confirm the presence of gold deposits on its territory (mainly in Lower Silesia), which may provide grounds for future, albeit probably limited in scale, exploration and mining activities.

What methods of gold mining are used around the world?

Gold mining is carried out using three basic methods, selected depending on the characteristics of the deposit:

• Open-pit mining (open-pit mines): This involves removing overburden (the top layers of rock and soil) to reach deposits located relatively shallow beneath the surface. It is a cost-effective method for large, extensive deposits, but it involves significant interference with the landscape.
• Underground method (deep mines): Used for the exploitation of deposits located at great depths. It requires the construction of complex systems of shafts, galleries, and mining chambers. It is more expensive and technologically demanding than the open-pit method.
• Alluvial method (gold panning): Used to extract gold from river sediments, alluvial terraces, and other clastic deposits where gold occurs in the form of nuggets or grains released during the weathering of primary parent rocks. Mechanical and gravitational methods (e.g., sluices, dredges) are used to separate heavier gold from lighter minerals.

Innovative solutions are becoming increasingly important in modern gold mining, such as the use of drones for terrain mapping and monitoring, advanced geophysical and geochemical analyses for more precise deposit location, as well as automated mining and transport systems and digital process management in mines. These technologies are designed to increase precision, efficiency, and safety, and to reduce the environmental impact of mining activities.

What are the forecasts for the future of gold mining and investing in gold?

Forecasting the future of gold mining is complex and depends on many factors, such as the discovery of new deposits, the development of mining technologies, gold prices, energy and labor costs, and environmental regulations. According to some analyses, such as historical reports by the US Geological Survey, global gold production has shown an upward trend, but in recent years it has tended to stabilize or fluctuate slightly. Discovering new, large, and easily accessible deposits is becoming increasingly difficult, and many existing mines are entering a mature phase of operation. Potential future production growth will likely depend largely on investment in exploration, the effectiveness of new technologies, and gold prices, which motivate the exploitation of harder-to-access or poorer ores. Some forecasts suggest that global gold production may have already peaked or is close to doing so.

Regardless of trends in mining, investing in gold, e.g., in the form of physical gold bars or bullion coins, remains popular. It is often seen as a way to diversify one's portfolio and protect against inflation and geopolitical uncertainty. Interest among institutional and private investors is also growing, which translates into demand for investment gold.

New geological discoveries (albeit increasingly rare and difficult), advanced analytical tools, and continued investment in innovation in the mining sector will shape the future of the gold market, both in terms of its supply to industry and its availability for investment purposes.