Global production of gold mines 2005-2019

This statistic illustrates the world production of gold mines from 2005 to 2019. In 2005, some 2,470 metric tons of gold was produced worldwide. Since then, gold production has increased steadily to an estimated 3,300 metric tons in 2019. Gold is a transition metal known for its bright lustrous yellow coloring. For industrial purposes, its malleability, ductility, and resistance to corrosion and many chemical reactions makes it ideal for applications such as electrical connectors, infrared shielding, and gold leafing.

Key facts about gold

The global mine production of gold steadily rose after the 2008 economic crisis. In 2008, gold mine production worldwide totaled 2,280 metric tons and increased to more than three thousand metric tons in each year since 2015. Alongside mining costs, the U.S. production value of gold increased from 3.67 billion U.S. dollars in 2005 to a high of 12.6 billion U.S. dollars in 2012, and has since then stabilized at 9.6 billion U.S. dollars in 2017. China is currently leading the global gold mine production at an estimated 420 metric tons in 2019, while Australia is second, producing about 330 metric tons in the same year. Gold can be mined through several different processes including placer mining, panning, sluicing, and dredging. Panning is a manual technique that uses a shallow pan filled with sand and gravel, that may also contain gold, to sort through the material. The precious metal can also be produced as a byproduct often with copper mining.

It is also highly valued as a precious metal for use in coins, investments, and jewelry. In the third quarter of 2019, it was primarily used for jewelry and investments, which accounted for 461 metric tons and 409 metric tons of gold respectively.

Gold mine production worldwide from 2005 to 2019

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Source

Release date

February 2020

Region

Worldwide

Survey time period

2005 to 2019

Supplementary notes

* Estimated.
Figures are rounded.
This statistic was assembled using several editions of the report.

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