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The world's top 10 largest gold mines in Q3 2021: Grasberg regained the crown

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(Kitco News) - Freeport-McMoRan’s gigantic Grasberg mine in Indonesia was the world’s largest gold producing center in Q3 2021. Overall, the top 10 largest gold operations in the world produced 2,339 koz of the yellow metal in Q3 2021, an increase of 5% compared to Q3 2020.

Kitco ranked the top ten largest gold mines in the world based on the reported production figures for Q3 2021; hence, the world’s largest Muruntau gold mine in Uzbekistan was excluded from this quarterly ranking due to lack of data.

Freeport-McMoRan’s gigantic Grasberg mine in Indonesia was the largest gold operation with 371 koz of gold produced in Q3 2021, which is a significant 57% increase compared to Q3 2020, as the company successfully transitioned Grasberg to be the world’s largest underground block-caving operation.

This transition is expected to enable Grasberg to generate average annual production for the next several years of 1.55 billion pounds of copper and 1.6 million ounces of gold.

Barrick’s Carlin operation in Nevada, USA, was the second largest gold producing center globally in Q3 2021. Carlin’s gold production of 340 koz for the three month period ended September 30, 2021 was 24% lower compared to the same prior year period, mainly due to the mechanical mill failure at the Goldstrike roaster.

Owned by Polyus, Olimpiada is the largest gold mine in Russia and the third biggest gold operation worldwide. Olimpiada produced 289 koz of gold in Q3 2021. On a year-on-year basis, the total gold output at Olimpiada decreased by 11%, which was primarily driven by lower grades in ore processed and lower recovery rates.

Barrick’s Pueblo Viejo mine in the Dominican Republic is fourth with 212 koz of gold produced in Q3 2021. Gold production for the three month period ended September 30, 2021 was 1% lower than the same prior year period due to lower grades processed in line with the mine and stockpile processing plan, largely offset by higher throughput.

Another Barrick’s Cortez operation in the United States sits fifth. Gold production of 212 koz for the three month period ended September 30, 2021 was 15% higher than the same prior year period, primarily driven by higher oxide mill production due to an increase in grade and ore tonnes mined from the open pits and Cortez Hills underground.

Overall, the top 10 largest gold operations in the world produced 2,339 koz of the yellow metal in Q3 2021, an increase of 5% compared to Q3 2020 (2,236 koz).

The complete list is on the chart.

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.