Overview

Gold has been mined for centuries, given that it only makes up 0.001 to 0.006 parts per million of the earth’s crust, gold is one of the world’s rarest elements. There are many ways to mine gold, but the most common are open-pit and underground mining. It is a lucrative business, with many factors to consider. This article will discuss the ten largest gold mines in the world, as well as their location. Some of these top gold mines also have particularly challenging geotechnical conditions that make their daily operations more difficult than others.

The 10 Largest Gold Mines in the World

In 2021, there were 115.8 million ounces (Moz) of gold produced worldwide. The ten largest gold mines in the world are divided among South Africa, the US, and two each of Indonesia, Russia, Papua New Guinea, Chile, Australia, and the Dominican Republic.

Ranking of 10 Gold Mines in the World: based on contained gold reserves.

1. South Deep gold mine – 32.8Moz: It is situated in the Witwatersrand Basin, 45 kilometres southwest of Johannesburg. With a mine depth of up to 2,998 metres below the surface, South Deep is also the seventh-deepest mine in the world.
2. Grasberg gold mine -30.2Moz: In 1988, the Grasberg gold mine in Indonesia’s Papua province was found. Freeport Indonesia (PTFI), a division of Freeport-McMoRan Copper & Gold (FCX), runs the mine.
3. Olimpiada gold mine – 26Moz: It’s located in the Krasnoyarsk region of Eastern Siberia. It makes use of a shovel and a truck in an open-pit method that is customary. Two nearby plants with a combined annual capacity of 13 million tonnes process the extracted ore.
4. Lihir gold mine – 24Moz: The Lihir Gold mine is in the New Ireland Province, 900 kilometres northeast of Port Moresby. 933,000 oz of gold were produced by the mine during the fiscal year that ended in June 2019.
5. Norte Abierto gold mine – 23.2Moz: The Norte Abierto gold mine is situated in the Atacama Desert but has not yet begun production. The mine is being developed as an open pit project by Norte Abierto, a 50/50 joint venture between Barrick Gold and Newmont Goldcorp.

6. Carlin Trend gold mine – 12.46Moz: Newmont runs the Carlin Trend gold mine in Nevada, USA. At Carlin, Newmont began open-pit mining in 1965; underground mining followed in 1994. The operation also consists of the Carlin East, Deep Post, Chukar, and Leeville underground mines.

7. Boddington gold mine – 12.35Moz: The nearby Boddington gold mine, which is run by Newmont, opened its first open pit mine in 1987, extracting shallow oxide ores from a depth of up to 70 metres. In 2001, it was placed under maintenance and care.

8. Mponeng gold mine – 11.65Moz: Mponeng gold mine, which is close to Carletonville is owned and operated by AngloGold Ashanti . With a depth of more than 4 km below the surface, the underground gold mine is also currently the deepest mine in the world.

9. Pueblo Viejo gold mine – 10.92Moz: Pueblo Viejo mine located roughly 100km north-west of Santo Domingo. In 2018, it generated 581,000 oz of gold. The gold mine’s lifespan is predicted to be greater than 25 years.

10. Cortez gold mine – 8.7Moz: Nevada’s Lander County, 100 kilometres southwest of Elko, is home to the Cortez gold mine. Beginning in 1969, Cortez began to produce goods. Both open-pit and underground mining techniques are used at the mine.

Mining robotization: Future

Mining personnel can route, observe, and react to operational disruptions more quickly thanks to technology like AI and System Learning. For instance, rather than relying on a human drill operator, set drill holes to place explosive charges where they would be most effective. Mining companies can increase their profit margins with the help of these technologies.

After implementing autonomous hauling and loading technology, Agnico Eagle Mines, for instance, reported record production for the final quarter of 2020 at its LaRonde and Kittila gold mines.

International gold marketplace traits: Asset

The metal holds its worth well, despite many unfavourable conditions around world for example worldwide gold creation is returning quickly after Coronavirus hit yield in 2020. The expected price for gold is 1625.02 USD/t oz in 2022 last quarter. In 2022 and 2023, there will likely be a rise in the global demand for gold.

Summary 

Exploration, drilling, geological analysis, financing, development, extraction, initial refining, and delivery of gold to a refinery are all parts of the gold mining process.