Canada’s gold mines are shooting the lights out
The top 10 gold producing countries mined out 1,920 tonnes of the precious metal which is 2.3% more than in 2013 (1,876 tonnes).
Among them, five countries — China, Australia, Russia, Canada, Uzbekistan — increased their gold output and four — USA, South Africa, Peru and Mexico — fell in production. Gold output in Ghana was in line with 2013 totals (90 tonnes).
China has been at the top of the rankings for the past eight years with 450 tonnes of gold produced in 2014 (+4.7%) followed by Australia (270 tonnes, +1.9%) and Russia (245 tonnes, +6.5%).
Russia climbed to third place while the US fell from third to fourth position with gold output nosedived by 8.3% in 2014 (211 tonnes).
Canada achieved the record gold output in 2014 (160 tonnes, +29%) and jumped two positions up, from seventh to fifth place, surpassing South Africa for the first time.
South Africa ranked number one in the world for a century before losing the top spot to China in 2007. At its peak in the late 1960s the gold fields of South Africa produced more than a 1,000 tonnes of the yellow metal per year.
Table 1. World gold production, by top producing countries, tonnes (USGS preliminary data).
Medium and small gold-producing countries increased their gold output in 2014 by 1.7%, from 924 tonnes of gold in 2013 to 940 tonnes in 2014.