Mining News
The world's top 10 largest gold mining companies in 2021 - report
(Kitco News) - Kitco reported that Newmont was the top gold producer in 2021. The company’s attributable gold production for the year increased 1% to 5,971 koz compared to the prior year primarily due to higher mill recovery, a draw-down of in-circuit inventory and higher throughput in the current year, as several mines were placed under care and maintenance or experienced reduced operations in the prior year in response to the Covid pandemic.
Barrick sits second with 2021 gold production of 4,437 koz, which is 7% lower compared to the prior year.
Russian gold miner Polyus is third with 2021 total gold output of 2,717 koz, a 2% decline over 2020 (2,766 thousand ounces). The decline was primarily attributable to operations at Olimpiada and driven by lower average grades in ore processed of 3.00 g/t, from 3.40 g/t in the previous year. This was partially offset by higher production volumes at Natalka and Verninskoye.
AngloGold Ashanti is fourth and produced 2,472 koz of gold, a 12% decline compared to 2,806 koz in 2020. The company’s Africa operations produced 1,419 koz at a total cash cost of $904/oz for the year ended 31 December 2021, which is lower compared to 1,603 koz at a total cash cost of $757/oz for the year ended 31 December 2020, as the region continued to implement its re-investment programme.
Gold Fields sits fifth with attributable gold equivalent production of 2,340 koz in 2021, a 5% increase YoY (FY2020: 2,236koz), at the upper end of the guidance range of 2,300koz - 2,350koz.
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Agnico Eagle is sixth with 2,086 koz produced in 2021 (including Hope Bay), an increase of 20% when compared to the prior-year period, primarily due to strong performance at the company's mines, including higher gold grades and tonnage at the Canadian Malartic, Meliadine and Pinos Altos mines and the Meadowbank Complex, and higher tonnage at the LaRonde Complex and the Goldex and Kittila mines. This was partially offset by lower production at the La India mine related mostly to water conservation efforts and at Creston Mascota, where only residual leaching occurred.
Kinross is seventh and produced 2,068 koz of attributable gold equivalent in 2021, in line with the company’s revised production guidance, and 13% lower compared with full-year 2020 production of 2,367 koz of attributable gold equivalent. The decrease was mainly due to the temporary suspension of milling operations at Tasiast as a result of a mill fire in June 2021 and deferred mining activities at Round Mountain after wall instability was detected in Q1 2021. The decrease was slightly offset by increases in production at Fort Knox and at Bald Mountain.
Australian gold miner Newcrest ranked eighth and produced 1,887 koz of gold in the calendar year of 2021, a 12% decline over 2020 (2,150 koz).
South Africa’s Harmony Gold produced 1,540 koz of gold in 2021, 26% higher than a year ago mainly due to the production increase from the South African underground operations and higher production from the surface business.
Endeavour Mining is tenth and reported that its consolidated production amounted to a record 1,536 koz in 2021, an increase of 69% over 2020 due to the addition of Sabodala-Massawa and Wahgnion in the first quarter of the year, full year production from Boungou and Mana (which were acquired in 2020), and stronger performances at Houndé and Ity.
Overall, the top 10 largest gold mining companies by output produced 27.1 million ounces of gold during the year ended December 31, 2021, 1% more than in 2020 (26.9 million ounces).
