1 metric ton = 32,150 troy ounces = $50 million

2015 = 99 million oz = $155 billion

2016 = 100 million oz = $156 billion
2017 = 104 million oz = $161 billion
2018 = 106 million oz = $165 billion
2019 = 106 million oz = $165 billion
2020 = 97 million oz = $151 billion
2021 = 96 million oz = $150 billion

250,000 ounces of gold are produced every day.

Producing 25 ounces per day ($40,000 per day or $14 million per year), is
only 1/100th of one percent of what is produced each day.
The Top Gold Mines in 2021
2. Carlin, USA
The Carlin trend mines are a collection of mines along a strip of land in
Nevada that is incredibly extensive—it measures about 30 miles long and
4 miles wide.
The mine’s particular type of gold is referred to as invisible gold, making
it distinct from other mines.
Due to its minuscule size, the gold is considered to be invisible and can
only be found by chemical analysis. Despite the fact that it might seem
like there isn’t any gold there, the mine actually generates about 1.6
million ounces of gold per year.
Production % of global
.Rank Mine Location
(ounces) production
Nevada Gold
#1 U.S. 3,311,000 2.9%
Mines
#2 Muruntau Uzbekistan 2,990,020 2.6%
#3 Grasberg Indonesia 1,370,000 1.2%
#4 Olimpiada Russia 1,184,068 1.0%
Dominican
#5 Pueblo Viejo 814,000 0.7%
Republic
#6 Kibali Congo 812,000 0.7%
#7 Cadia Australia 764,895 0.7%
Papua New
#8 Lihir 737,082 0.6%
Guinea
Canadian
#9 Canada 714,784 0.6%
Malartic
#10 Boddington Australia 696,000 0.6%
In 2019, the world’s two largest gold miners—Barrick Gold
and Newmont Corporation—announced a historic joint
venture combining their operations in Nevada. The resulting
joint corporation, Nevada Gold Mines, is now the world’s
largest gold mining complex with six mines churning out over
3.3 million ounces annually.

How Profitable is Gold Mining?

The price of gold is up by around 50% since 2016, and it’s hovering
near the all-time high of $2,000/oz.
That’s good news for gold miners, who achieved record-high profit
margins in 2020. For every ounce of gold produced in 2020,
gold miners pocketed $828 on average, significantly higher than
the previous high of $666/oz set in 2011.
With inflation rates hitting decade-highs in several countries, gold
mining could be a sector to watch, especially given gold’s status as
a traditional inflation hedge.
Gold production is double what it was 50 years ago.