Global gold production hit another record just shy of 109m troy ounces in 2018, up more than 23m ounces since the start of the decade.
The ranks of the top producing companies stayed remarkably stable, but last year saw a new company take the top spot – and that’s even before the flurry of mergers in the industry’s top tier.
Long-time leader Barrick Gold produced 4.5m attributable ounces in 2018, 15% below the previous year, losing its top-producer status to Newmont Mining. Newmont mined 165koz fewer last year but managed to hold output above 5m ounces.
Had the mergers been in place during 2018, Newmont Goldcorp’s total would have jumped to 7.4m ounces while combined Barrick Randgold would have unearthed 5.8m ounces. Gold production at Newmont and Barrick’s JV in Nevada, inked earlier this year, works out to 4.1m ounces.