Top 10 largest gold mining companies in Q2 2022 - report
(Kitco News) - Kitco ranked the top 10 largest gold mining companies based on their quarterly production figures reported in Q2 2022.
This rating does not include Russia’s biggest and one of the world’s largest gold miners, Polyus, which has decided to switch from quarterly to semiannual reporting of its operating results and consolidated financial statements.
1. Newmont. 1,495 koz. Newmont’s attributable gold production increased 3% to 1,495 thousand ounces from the prior year quarter primarily due to higher ore grade milled at Boddington, Ahafo and Tanami and a draw-down of in-circuit inventory compared to a build in the prior year. In addition, the current quarter benefited from the increased ownership at Yanacocha due to the acquisition of Buenaventura's 43.65% ownership in February 2022. These increases were partially offset by lower ore grade milled and lower throughput at Peñasquito and Éléonore.
2. Barrick. 1,043 koz. Barrick’s Q2 2022 gold production was in line with Q2 2021 (1,041 koz). The company noted positive performance at Carlin and Turquoise Ridge mines in Nevada, Veladero mine in Argentina, and Bulyanhulu and North Mara mines in Tanzania, adding that production is expected to grow in the second half of the year.
3. Agnico Eagle. 858 koz. The company’s gold production in Q2 2022 of 858 koz was 63% higher y-o-y primarily due to the inclusion of the production from the Detour Lake, Fosterville and Macassa mines. This was partially offset by the cessation of gold production in 2022 at the Hope Bay mine following the company's decision to dedicate the infrastructure to exploration activities and lower production at the company's Pinos Altos mine, as a result of lower tonnage sourced from the underground mine.
4. AngloGold Ashanti. 645 koz. Gold production in Q2 2022 of 645 koz was up 3% year-on-year with strong production contributions from Cerro Vanguardia (+17%), Siguiri (+21%), Sunrise Dam (+15%), Iduapriem (+14%) and Tropicana (+14%). The increase in production for the group was largely driven by higher ore tonnes processed and a higher overall yield for the group.
5. Newcrest. 637 koz. Australian gold miner Newcrest increases production 18% to 637 koz in Q2 2022 from 542 koz in Q2 2021.
6. Gold Fields. 621 koz. The company’s gold production of 621 koz in Q2 2022 was 10% higher than the prior period.
7. Kinross. 557 koz. In Q2 2022, Kinross produced 557 koz of gold, which is an increase of 4% compared with 538 koz produced in Q2 2021. The year-over-year increase was largely due to Tasiast, which had higher grades and throughput.
8. Zijin Mining. 462 koz. China’s Zijin Mining increased its mine-produced gold output by 37% y-o-y to 462 koz in Q2 2022 following the successful production commencement of key projects, primarily the Upper Zone of the Cukaru Peki Copper and Gold Mine in Serbia.
9. Northern Star. 411 koz.
10. Harmony Gold. 382 koz.