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The current biggest miner of Gold is China.
The US is estimated to have the most gold in the world, as reported by Forbes.
Gold is one of the most valuable elements found on earth. Anyone possessing a good amount of gold is considered to be well off. A lot of this precious metal is mined for various purposes, and also used as an important part of electronic devices. So, have you ever wondered how much gold our earth has? Or how much is left? Read here to know. As per a recent report by Forbes, the US has the most gold in the world. The World Gold Council estimated that it owns around 8,133.46 tonnes of gold reserves. It is followed by Germany, estimated to have around 3,352.65 tonnes of gold reserves. The third country is Italy, owning 2,451.84 tonnes of gold reserves.
A BBC 2020 report stated that according to a US Geological survey, 50,000 tonnes of gold is estimated to be buried in earth, yet to be mined. It further revealed that around 190,000 tonnes of gold have been mined so far, for comparison. The mentioned figures show that around 20 percent gold is not mined yet.
The biggest single source of this precious metal in all history has been the Witwatersrand Basin in South Africa. Amazingly, it accounts for around 30 percent of all the gold that has ever been mined yet. Some other great sources of gold are the Mponeng mine in South Africa, Australia’s Super Pit and Newmont Boddington mines, Grasberg Mine located in Indonesia and mines in Nevada, the US.
The current biggest miner of Gold is China, which is followed by the countries of Canada, Russia and Peru. Talking about companies, the Nevada Gold Mines, most of it owned by Barrick Gold’s, is considered the biggest single gold-mining complex in the world. In a year, it is estimated to produce 3.5 million ounces.
According to the experts, finding large gold deposits is becoming a rarity now. New gold mines are still being discovered, but most of the gold is still gleaned from older mines.
The Global Gold Market
While the US holds the highest quantity of gold reserves, China is the largest miner of gold, highlighting its significant role in the global gold market. Canada, Russia, and Peru also play essential roles in gold production, contributing to the dynamics of the worldwide gold industry.
Challenges in Gold Mining
Despite ongoing gold mining activities, finding substantial gold deposits is becoming increasingly uncommon. The existing mines continue to be the primary sources of gold, indicating a potential challenge in discovering new, large-scale deposits in the future. This trend underscores the importance of sustainable mining practices and efficient extraction techniques to maximize the utilization of existing gold reserves.
