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Top 10 largest gold mining companies in Q2 2021 - report

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(Kitco News) - Kitco ranked the top 10 largest gold mining companies based on their quarterly production figures reported in Q2 2021.

1. Newmont. 1,449 koz. Attributable gold production increased 15% to 1,449 koz in Q2 2021 from the prior year quarter primarily due to higher production from sites that were placed into care and maintenance or experienced reduced operations in response to Covid during 2020, and higher ore grade milled and higher mill throughput at Boddington.

2. Barrick. 1,041 koz. Q2 2021 gold production was lower 9% than a year before, with planned maintenance shutdowns at Nevada Gold Mines’ processing facilities further impacted by a mechanical mill failure at Carlin’s Goldstrike roaster, as well as planned maintenance at Pueblo Viejo.

3. Polyus. 672 koz. Total gold output in Q2 2021 amounted to 672 koz, which is 3% less than 690 koz produced in Q2 2020. The company’s flagship Olimpiada mine produced 270 koz of gold in Q2 2021, a 12% decrease compared to 308.1 thousand ounces produced in Q2 2020. The company said that volumes of ore processed at Olimpiada were down due to scheduled maintenance at Mill-1 and Mill-3. Over the course of the second quarter, Polyus continued to improve the efficiency of BIO complex.

4. AngloGold Ashanti. 613 koz. Production in Q2 2021 decreased by 12% and was adversely impacted by the suspension of underground mining activities at Obuasi following the failure of a sill pillar in May 2021, and the ongoing impacts of the Covid-19 pandemic across its business.

5. Gold Fields. 563 koz. Attributable equivalent gold production (including Asanko) increased by 2% to 563 koz in Q2 2021. The increase was due to the second quarter of 2020 being impacted more severely by Covid-19 related delays.

6. Newcrest. 542 koz. Gold production was 5% lower than in Q2 2020. In line with prior years, a series of planned shutdown events reduced throughput rates at Cadia, Lihir and Telfer. Additionally, production was also impacted by lower grades at Cadia, Lihir and Red Chris, the impact of unplanned outages and autoclave availability at Lihir and lower recovery rates at Telfer, Red Chris and Lihir.

7. Kinross. 538 koz. In Q2 2021, Kinross produced 6% less gold than in Q2 2020. The decrease was mainly due to lower production at Tasiast, Bald Mountain and Kupol, partially offset by higher production at Paracatu and Fort Knox.

8. Agnico Eagle. 526 koz. Including the Hope Bay mine, the company's quarterly gold production was 526 koz in Q2 2021, which is 59% higher than in Q2 2020, primarily due to strong performance at the company's key mines, including higher than forecast tonnage and grade at the LaRonde Complex and higher than expected grade at the Meliadine mine.

9. Northern Star. 451 koz. The company’s gold output in Q2 2021 jumped 69% compared to Q2 2020 primarily due to its merger with Saracen Mineral that was closed on 12 February 2021.

10. Harmony Gold. 411 koz. Harmony Gold produced 82% more gold in Q2 2021 year-over-year. The higher gold production was mainly due to the inclusion of Mponeng and related assets into the company’s portfolio. This number was further enhanced as a result of the group achieving its operational plans and regaining mining flexibility at the majority of its mines after the impact of Covid-19.

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.