The giant gold mining corporations are present in various regions, from Africa and Asia to South America, the U.S., and Russia.
The long-standing metal is popular due to its value, functional properties, and variety of uses. It is still regularly employed in crafting and jewelry, but it also serves as an essential component in electronic production, coveted due to its superior thermal and electrical conductivity.
Based on the U.S. Geological Survey, there are 53,000 tonnes in world gold reserves. There will be an estimated mining of 3,200 tonnes globally in 2020, about a 5% annual reduction in production caused by interruptions in the Covid-19 disease.
Despite this disruption in operations, the leading gold mining companies benefited from the rising prices of commodities during this year when investors flocked to gold during a slump in conventional financial markets.
Barrick Gold is one of the biggest gold miners worldwide. It was established in 1983. Its headquarters are in Toronto, Ontario.
Barrick Gold operates mines and development projects in the Americas, Africa, and the Middle East, emphasizing cost-effective, high-quality gold mining. The company’s portfolio includes ten mines producing and several construction projects. These include those at the Pueblo Viejo mine in the Dominican Republic, the Veladero mine in Argentina, and the Hemlo mine in Canada.
Alongside the mining activities, Barrick Gold is also engaged in development and exploration processes to find and build the possibility of developing new gold deposits. Barrick Gold has a solid balance sheet and a disciplined method of capital allocation, allowing it to earn high profits for shareholders.
First Quantum Minerals (F.M.)
First, Quantum Minerals is engaged in development, exploration, and mining. The company manufactures copper, silver, nickel, gold, zinc, and cobalt. The company has mining facilities throughout Africa, Latin America, and Australia. The stock of First Quantum is traded in Toronto and over the counter (OTC) in the U.S. under the ticker symbol FQVLF.
Agnico Eagle Mines (AEM)
Established in 1957, Agnico Eagle Mines was established in 1957. It is an Australian-based gold mining firm with activities across Canada, Australia, Finland, and Mexico. Apart from the exploration work across these nations, the company is also present in the U.S. and Colombia. Agnico Eagle Mines’ stock is publicly traded on the NYSE in Toronto and the U.S. with the AEM ticker.
China Shenhua Energy
China Shenhua Energy is the biggest coal mining company owned by the state in Mainland China and the entire world.
The company extracts refined, sells, and mines coal. The company also produces and sells electric power throughout China. People’s Republic of China.
Additionally, it operates an integrated rail network that is used to transport coal and other non-coal products.
AngloGold Ashanti is fourth on the list of top gold mining companies, which produced 85.3 tonnes of gold by 2022. It is a South African company with nine gold mines in seven countries spread across three continents and many exploration projects across the globe. AngloGold’s Kibali Gold Mine (a joint venture that includes Barrick acting as owner), located in the Democratic Republic of Congo, is the fifth-largest global gold mining facility with a capacity of 23.3 tonnes of gold by 2022.
In 2022, the firm raised its production of gold to 11 percent more than in 2021 and was at the upper range of its guidance for this year. The production forecast 2023 is 2.45 million to 2.61 million pounds (69.46 to 75 M.T.).
Additionally, based in South Africa, Gold Fields have been found mined in Australia and Peru and have experienced a significant increase in production by 2021 after restrictions were imposed due to the epidemic.
Five companies were left: Newcrest, Kinross, Agnico Eagle, Northern Star, and Harmony Gold.
The largest mining firms only sometimes relate to the most massive gold mines. The size of mines is usually determined by the amount of gold mined. However, it could also be based on the purity of gold (quality) located there. With the world becoming increasingly interconnected, many mining firms are operating worldwide. Certain companies may also find it’s more efficient to stay at a mine nearing its depletion instead of exploring and opening new mines for gold.
Which is better: owning Gold or Stocks?
The decision to purchase gold in the form of gold bars or physical gold is based on your objectives and needs.
If you have enough space for storing gold and would like to hold tangible assets, gold in physical form could be the ideal choice. But if you’re seeking to profit from the fluctuations in the price of gold, the gold market could be the better choice.
Physical gold, as well as gold stocks, come with their benefits and drawbacks. The best advice is to talk with a financial professional before making any financial investment decision.
The wealth and the luxury
Six and a half million years after it was discovered, more than 90 percent of the gold extracted yearly is used to make jewelry, bullion, and coins.
- Jewelry: 36.83%,
- Investment: 46.64%,
- Central bank: 8.58%,
- Technology: 7.95%
Metal is also utilized in dental procedures, as it is an excellent material to fill in crowns and fillings as it’s simple to place and does not react with human bodies.