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(Kitco News) - Kitco ranked the world’s top 10 largest gold mining companies by production in Q1 2023 based on publicly reported quarterly data.
This rating does not include Polyus, Russia’s biggest and one of the world’s largest gold miners, which has decided to switch from quarterly to semiannual reporting of its operating results and consolidated financial statements effective the first half of 2022.
Newmont was the top gold producer in Q1 2023. The company’s attributable gold production decreased 5% to 1,273 thousand ounces from the prior year quarter primarily due to lower mill recovery and ore grade milled at Peñasquito as a result of the planned mine sequencing, the impact of the mill shutdown at Tanami due to the rainfall event and lower production at Nevada Gold Mines.
Barrick sits second with 952 thousand ounces of gold produced on Q1 2023, a 4% decline compared to Q1 2022 (990 thousand ounces). The company said that its Q1 2023 production was in line with expectations after planned maintenance at Nevada Gold Mines and start of plant commissioning at Pueblo Viejo.
Agnico Eagle is third with payable gold production of 813 thousand ounces in Q1 2023, up 23% compared to 661 thousand ounces produced in Q1 2022. The company explained that its payable gold production increased year-over-year due to the inclusion of additional days of production in the 2023 period at the Detour Lake, Fosterville and Macassa mines.
AngloGold Ashanti is fourth and produced 584 thousand ounces in Q1 2023, unchanged year-over-year, with strong performances from the Obuasi and Iduapriem mines offset by lower production from Kibali, Siguiri and the Brazilian operations.
Gold Fields sits fifth. The company’s attributable equivalent gold production was 577 thousand ounces in Q1 2023, largely flat year-over-year.
China’s Zijin Mining produced 513 thousand ounces of gold in Q1 2023, up 22% over Q1 2022.
Newcrest produced 510 thousand ounces of gold in Q1 2023, up 6% compared to Q1 2022 (480 thousand ounces).
Kinross produced 466 thousand gold equivalent ounces in Q1 2023. In Q1 2022, the company produced 509 thousand ounces (including discontinued operations).
Freeport-McMoRan produced 405 thousand ounces of gold in Q1 2023, which is a decline of 2.4% over Q1 2022 (415 thousand ounces).
Northern Star Resources is tenth. The company produced 363 thousand ounces of gold in Q1 2023, down 4% over Q1 2022.
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