We learn from chemistry class in high school that gold is a metal that has the symbol of Au and has an atomic number of 79. It is shiny, malleable and soft. It is a highly sought after item and is considered valuable and very precious. It used to be the standard for monetary policies of economists around the world.
More than 165 thousand tons have been mined, with half of it being used for jewelry and accessories, others for investments, and around a tenth for industry. It can be found in different parts of the globe, from South Africa and Australia to Russia and Peru. The United States is also a major producer, though China has supplanted them all. The top ten countries are responsible for more than two thirds of the world’s production output of gold, which totaled 2,700,000 kilograms in the latest calendar year available.
So what other areas in the world can gold be found? Here is a list of the top ten gold-producing countries in the world.
1. China – 355,000 kilograms
The world’s top consumer of gold is also its top producer. It has held that title since 2007. Most of its production comes from the province of Shandong. The China National Gold Group mines around a fifth of its output. China’s gold holdings stand at 1,054.1 tons, which is equivalent to 1.7 percent of its total foreign reserves. The country still has around 1,900 tons in reserves. China is on pace to break the 2011 figure of 355 tons produced, as it has already mined a total of 249.7 tons as of the second quarter of this year. That reflects a 10 percent increase from the same period last year.
2. Australia – 270,000 kilograms
More than 66 percent of gold mined down under comes from Western Australia, the location of the Golden Mile. It is the largest open pit mine in the country. Gold is one of the country’s top exports, allowing it to raise more than $14 billion each year. Gold reserves in the country are at around 7,400 tons. Australia has holdings of 79.9 tons of gold, equivalent to 9.3 percent of its total foreign reserves.
3. United States – 237,000 kilograms
Officially, the United States has the largest gold holdings in the world with 8,133.5 tons, equivalent to 75.4 percent of its total foreign reserves. The country has around 3,000 tons in reserves. Most of the gold mined in the country comes from Nevada, though the reopening of mines in Montana helped in the increase in production numbers.
4. Russia – 200,000 kilograms
Being one of the top producers of gold in the world has not stopped Russia from purchasing more from other nations. As of the third quarter of 2012, the country has already bought 57.6 tons to augment its reserves to 936.7 tons, equivalent to 9.6 percent of its foreign reserves. It still sits on around 5,000 tons of proven reserves, with most of it coming from Siberia and the Far East.
5. South Africa – 190,000 kilograms
The country sits on one of the world’s largest gold deposits at 6,000 tons, though production has been hampered by strife in the labor sector. As recent as 2006, South Africa was considered the biggest gold producer in the world. It has since dropped down in the rankings, with production increases abysmal. Still, the country’s holdings of 125 tons of gold are equivalent to 13.4 percent of its total foreign reserves.Top 5 Gold Producing Countries In The World