In light of its rising significance as a safe haven asset, gold’s supply must also keep pace with the demand. The world’s production of gold has steadily gone up over the last four years, according to the World Gold Council.
Most of the gold production comes from a small number of companies that have been in the mining business for decades. Below, we list out the top 10 gold mining companies in the world based on their 2023 outputs*:
* Production figures are based on company press releases for the full-year ending December, 31, 2023, with the exception of Navoi Mining and Metallurgical Company.
1. Newmont
Production: 5.5 million oz.
Despite an 8% decline in output from 2022, Newmont remains the top gold producer with 5.5 million oz. across its global operations, which span four continents.
The Denver, Colorado-based company cemented its position as the world’s biggest gold miner last year with its $17 billion acquisition of…
