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5 Biggest ASX Gold-mining Companies in 2025
May. 06, 2025 01:55PM PST
Australia is home to many large gold stocks — learn about the five top companies in the sector by market cap and their operations.
Dominique Dumont / Adobe Stock
Australia is the third largest gold producer worldwide, and it's home to some of the largest gold miners.
Gold is often a suggested safe investment for any portfolio, and there are a number of ways to invest. While you can invest in gold with physical gold metal, gold exchange-traded funds and gold stocks are also good options.
When it comes to investing in Australian gold mining companies, it's often a good idea to start with the biggest players in the sector, as these established entities have track records and tend to be less volatile than junior mining stocks.
With that in mind, the Investing News Network has listed the top ASX gold stocks by market cap below, including information on their operations and dividends. Data was gathered on April 24, 2025, using Trading View’s stock screener.
1. Newmont (ASX:NEM)
Market cap: AU$94.2 billion
Share price: AU$85.20
Newmont is one of the world's largest miners of gold, copper, silver and zinc, with operations in the Americas, the Caribbean, Asia Pacific and Africa.
The company's diverse portfolio includes three significant gold operations in Australia: Boddington, Cadia and Tanami. Together, the three produced 1.46 million ounces of gold in 2024 at an average all-in sustaining cost (AISC) of US$1,206.
The Boddington mine in Western Australia is one of the country's largest gold-producing mines. Although production at Boddington declined in 2024 due to lower-grade ore, Newmont expects production to increase in 2026 as it completes upgrades to the north and south pits.
At Cadia, which also ranks high on the list of biggest gold mines in Australia, Newmont produces gold doré bars from a gravity circuit and gold-rich copper concentrates from a flotation circuit. While not as prolific as Boddington and Cadia, Tanami is still one of the top five largest gold mines in Australia. The ongoing Tanamai Expansion 2 project is expected to be completed in the second half of 2027 and extend the mine's life through to 2040.
Newmont will pay a semi-annual dividend of AU$0.274 on June 20, 2025.
2. Northern Star Resources (ASX:NST)
Market cap: AU$23.81 billion
Share price: AU$20.84
Northern Star Resources is an Australian gold company with mines in its Kalgoorlie and Yandal production centres in Western Australia and at its Pogo production centre in Alaska, US.
Northern Star's latest annual report for its fiscal 2024 ended June 30 shows that it sold 1.62 million ounces of gold during the period, in line with its guidance, at an AISC of AU$1,853 per ounce. The company's production guidance for its 2025 fiscal year is set at 1.65 million to 1.8 million ounces of gold.
The company also raised its semiannual dividends from AU$0.15 to AU$0.25 per share. Its most recent payment took place on March 27, 2025.
In April 2025, Northern Star passed the final legal hurdle to complete its acquisition of De Grey Mining, another major player in Australia's gold mining sector, and its large-scale, near-surface Hemi gold project in the Pilbara region.
3. Evolution Mining (ASX:EVN)
Market cap: AU$15.72 billion
Share price: AU$7.99
Evolution Mining, based in New South Wales, is a leading Australian gold and copper mining company operating five mines across the states of Queensland, New South Wales and Western Australia, as well as the Red Lake gold mine in Ontario, Canada.
In its quarterly report ending March 31, 2025, Evolution reported total production of 179,778 ounces of gold at an AISC of AU$1,616 per ounce, which it says is one of the lowest in the sector. The company's guidance for its 2025 fiscal year ending June 30 is 710,000 to 780,000 ounces of gold at an AISC of about AU$1,475 to AU$1,575 per ounce.
In July, Evolution Mining is planning to begin work on an expansion that will extend the mine life of its Cowal gold mine in New South Wales to 2042. The project will cost a total of AU$430 million over the next seven years, and the company states it will have a 34 percent rate of return based on a AU$3,300 per ounce gold price.
Evolution Mining paid out its semi-annual dividend of AU$0.07 per share on April 4, 2025.
4. Perseus Mining (ASX:PRU)
Market cap: AU$4.49 billion
Share price: AU$3.32
Perseus Mining operates three gold mines: Edikan in Ghana, and Sissingué and Yaouré in Côte d'Ivoire.
In the company's 2024 December quarter report, it reported that the mines' combined production for the 2024 calendar year was 502,109 ounces of gold at a weighted average AISC of US$1,147 per ounce.
Aside from its three mines, Perseus' portfolio includes a 70 percent interest in the Meyas Sand gold project in Sudan, and a 31.4 percent stake in the Koné gold project in Côte d’Ivoire.
Perseus Mining paid its semi-annual dividend of AU$0.025 on April 8.
In January 2025, Perseus Mining made a final investment decision on the CMA underground project to extend the mine life at Yaouré to 2035. The work is slated to begin in mid-2025.
5. Genesis Minerals (ASX:GMD)
Market cap: AU$4.42 billion
Share price: AU$3.89
Genesis Minerals is a gold exploration and mine development company focused on its flagship Leonora district-scale gold operations in Western Australia. The project hosts the Admiral open-pit mine, the Orient Well and Puzzle deposits, the Gwalia and Ulysses underground mines and the 3 million tonnes per annum Leonora mill.
Genesis also has its Laverton operations, which include the Hub open pit mine and Laverton mill.
In its March 2025 quarterly report, Genesis Minerals recorded total gold production of 59,767 ounces for the period at an AISC of AU$2,323 per ounce. The company states its on track to meet fiscal year 2025 guidance of 190,0000 ounces to 210,000 ounces at AISC of AU$2,200 to AU$2,400 per ounce.
In April 2025, Genesis Minerals shared that it had increased its total ore reserves to 3.7 million ounces.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
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