Top 10 Gold-mining Companies (Updated 2024)

Production: 172.3 tons

Newmont is the world's top gold-mining company. The firm holds significant operations in North and South America, as well as Asia, Australia and Africa. Newmont produced 172.3 tons of gold in 2023.

In early 2019, the miner acquired Goldcorp in a US$10 billion deal, and followed that up by starting a joint venture with Barrick Gold (TSX:ABX,NYSE:GOLD) called Nevada Gold Mines. Nevada Gold Mines is 38.5 percent owned by Newmont and 61.5 percent owned by Barrick, which is also the operator. Considered the world’s biggest gold complex, Nevada Gold Mines was the top-producing gold operation in 2022 with output of 94.2 metric tons.

In 2023, Newmont added to its portfolio when it merged with Australia’s Newcrest Mining in a blockbuster US$16.8 billion deal, becoming the largest gold-mining company in the world. Newcrest’s production in 2022 was 67.3 metric tons of gold.

Newmont’s gold production guidance for 2024 is set at 6.9 million ounces of gold, or 215.6 tons.

Production: 126 tons

Barrick Gold lands in second place on this list of top gold producers.

The company has been active on the M&A front in the last five years — in addition to merging its Nevada assets with Newmont in 2019 as discussed above, the company closed its acquisition of Randgold Resources the prior year.

Aside from Nevada Gold Mines, the major gold company's mines include the Pueblo Viejo mine in the Dominican Republic and the Loulo-Gounkoto mine in Mali, which respectively produced 335,000 ounces and 547,000 ounces of gold in 2023.

In its Q2 2024 report, Barrick reported that through the first six months of 2024, it had produced 1.89 million ounces of gold, a 4 percent decrease over the same period in 2023. It attributed the lower gold volumes to reduced grades and a reduction in throughput and capacity at its North Mara mine in Tanzania, as well as lower amounts of ore mined at the Cortez operations, which are part of Nevada Gold Mines, as it transitions to Phase 6.

Barrick has set its 2024 production guidance at 3.9 million to 4.3 million ounces (121.9 to 134.4 tons).

Production: 106.8 tons

Agnico Eagle Mines produced 106.8 tons of gold in 2023 to take the third spot on this top 10 gold companies list.

The company has 11 operating mines in Canada, Australia, Finland and Mexico, including 100 percent ownership of two of the world's top gold-producing mines — the Canadian Malartic mine in Québec and the Detour Lake mine in Ontario — which it acquired from Yamana Gold (TSX:YRI,NYSE:AUY) in early 2023.

The Canadian gold miner achieved record annual production in 2023, and also increased its gold reserves by 10.5 percent to 53.8 million ounces of gold (1.29 million metric tons grading 1.3 grams per metric ton gold). Its gold production for 2024 is expected to reach 3.35 million to 3.55 million ounces (104.7 to 110.9 tons). Based on its near-term expansion plans, Agnico Eagle is forecasting production levels of 3.4 million to 3.6 million ounces in 2025 and 2026.

Production: 90.3 tons

Polyus produced 90.3 tons of gold in 2023 to take fourth place among the top 10 gold-mining companies. It is the largest gold producer in Russia and holds the highest proven and probable gold reserves globally at more than 101 million ounces.

Polyus has six operating mines located in Eastern Siberia and the Russian Far East, including Olimpiada, which ranks as the world's third largest gold mine by production. The company expects to produce approximately 2.7 million to 2.8 million ounces (84.4 to 87.5 tons) of gold in 2024.

Production: 82 tons

Producing 82 tons of gold in 2023, AngloGold Ashanti has nine gold operations in seven countries across three continents, as well as numerous exploration projects around the world. The bulk of AngloGold's production came from its African operations, which produced 1.54 million ounces, 59 percent of the company’s total production, in 2023.

In 2023, the company saw a slight decline in gold production. It fell 3 percent to hit 2.59 million ounces, down from 2.67 million ounces in 2022. Despite the decrease, production came in above AngloGold's guidance range.

In its first half 2024 earnings report, AngloGold Ashanti said it had produced 1.25 million ounces of gold and set its guidance for the year at 2.59 to 2.79 million ounces of gold.

Production: 71.7 tons

Gold Fields comes in at number seven with gold production for 2023 totaling 71.7 tons. The company is a globally diversified gold producer with nine operating mines in Australia, Chile, Peru, West Africa and South Africa.

Gold Fields and AngloGold Ashanti recently joined forces to combine their Ghana exploration holdings and create what the companies claim will be Africa's biggest gold mine. The joint venture has the potential to produce an annual average of 900,000 ounces (or 28.1 tons) of gold over its first five years of operation.

The company’s output guidance for 2024 is in the range of 2.33 million to 2.43 million ounces, or 72.8 to 75.9 tons.

On August 12, Gold Fields announced it would be acquiring Canada's Osisko mining for US$1.6 billion. In 2023, Osisko produced 2.94 million ounces of gold.

Production: 67 tons

Kinross Gold has six mining operations across the Americas (Brazil, Chile, Canada and the US) and East Africa (Mauritania). Its largest producing mines are the Tasiast gold mine in Mauritania and the Paracatu gold mine in Brazil.

In 2023, Kinross produced 67 tons of gold, up 10 percent from its 2022 production level. The company attributed this increase to higher production levels at its La Coipa mine in Chile, as well as to higher mill grades at Tasiast.

In its second quarter results, Kinross reported that it was on track to meet its 2024 guidance of 2.1 million ounces.

Production: 62 tons

Better known for its copper production, Freeport-McMoRan produced 62 tons of gold in 2023. The vast majority originated from the company's Grasberg mine in Indonesia, which is the world's second largest gold mine by production.

In its 2023 results, Freeport-McMoRan states that long-term mine development activities are ongoing at Grasberg's Kucing Liar deposit. The company anticipates that the deposit will ultimately produce more than 7 billion pounds of copper and 6 million ounces of gold between 2029 and the end of 2041.

In its second quarter 2024 earnings report, the company announced that it had lowered its guidance to 1.8 million ounces. The new amount represents an adjustment of 150,000 ounces as a result of changes in mine sequencing due to wet conditions at its Grasberg block cave underground mine.