Top 5 countries with the largest Gold Mine Reserves
Gold is one of the most precious metals in the world. Gold has been used for a variety of purposes since ancient times. The metal has been used at least 5,000 years ago since the time of Ancient Egypt, where it was used to decorate tombs, temples and more. In modern times, gold is also used in currency, jewelry and electronics. Let's know about the top five countries with the largest gold reserves in the world
1. Australia
Australia has the world's largest gold reserves with 10,000 tonnes, according to data from the US Geological Survey (USGS), NS Energy reported. In 2019, Australia was the second-largest gold producer after India and China, increasing its production levels to 330 tonnes from 315 tonnes in 2018. Newcrest's Cadia Valley mine in New South Wales is one of the world's largest gold reserves. BHP, the world's largest mining company, is headquartered in Melbourne. While Rio Tinto, the second-largest company, has several mines across Australia.
2. Russia
Russia ranks second on the USGS list of countries with the largest gold reserves in the world with 5300 tonnes. Russia was the third largest producer of gold in 2019. Polyus Gold's Olympiada gold mine in the Krasnoyarsk region of Eastern Siberia, Russia is the third largest operational gold mine in the world.
3. South Africa
South Africa ranks third in the list of largest gold mine reserves with 3,200 tonnes. Until 2006, South Africa was the largest gold producer in the world. In 1970, South Africa produced the highest ever gold of 995 tonnes. Its production has decreased from 117 tonnes in 2018 to 90 tonnes in 2019.
4. America
The US has the fourth-largest gold reserves in the world at 3,000 tonnes. Its production level fell from 226 tonnes in 2018 to 200 tonnes in 2019. Newmont owns the Carlin Trend mine in Nevada. The US remains in fourth place despite the drop in production levels.
5. Indonesia
Indonesia ranks fifth in the list of countries with the largest gold reserves in the world with 2,600 tonnes. Indonesia is the sixth largest producer of gold in the world, with production increasing from 135 tonnes in 2018 to 160 tonnes in 2019. It has the second largest operational gold mine in the world.
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