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Largest gold mines in the world in Q1 2021 - report

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(Kitco News) - Barrick’s Carlin operation in Nevada was the world’s largest gold producing center in Q1 2021. Freeport-McMoRan’s Grasberg mine in Indonesia has jumped into second place as underground mining progresses.

Kitco ranked the top ten largest gold mines in the world based on the reported production figures for Q1 2021; hence, the world’s largest Muruntau gold mine in Uzbekistan was excluded from this quarterly ranking due to lack of data.

Barrick’s Carlin operation in Nevada, USA, is the largest gold producing center globally. Carlin’s gold production of 373 koz in Q1 2021 was 9% lower compared to Q1 2020, mainly from lower roaster throughput due to higher carbonaceous content, which in turn also negatively impacted the overall feed grade due to blending.

Freeport-McMoRan’s Grasberg mine in Indonesia sits second with 294 koz of gold produced in Q1 2021, which is a stunning increase of 93% compared to Q1 2020, as the ramp-up of underground production continues to advance on schedule. The successful completion of this ramp up is expected to enable to generate average annual production for the next several years of 1.55 billion pounds of copper and 1.6 million ounces of gold. Freeport expects production for the year 2021 to approximate 1.3 billion pounds of copper and 1.3 million ounces of gold, which is nearly double 2020 levels.

Olimpiada, the largest gold mine in Russia owned by Polyus, is the third biggest gold operation worldwide. Olimpiada produced 265 koz of gold in Q1 2021. On a year-on-year basis, its total gold output decreased by 4%, which was primarily driven by lower grades in ore processed and lower recovery rates.

Barrick’s Pueblo Viejo mine in the Dominican Republic sits fourth with 229 koz of gold produced in Q1 2021. Gold production at Pueblo Viejo was 4% lower than the same prior year period, due to lower throughput resulting from planned autoclave descaling and relining activities, partially offset by higher ore grades in line with the mine and stockpile processing plan.

Another Barrick’s Loulo Gounkoto mine in Mali sits fifth with 193 koz of gold produced in Q1 2021. Gold production at Loulo Gounkoto was 10% higher compared to the same prior year period, primarily due to higher grade ore processed and an increase in recovery.

The complete list of the top ten largest gold mines in the world in Q1 2021 can be found on the chart.

Top 10 largest gold mines in the world in Q1 2021.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.