Global gold production drops for the first time in 12 years – report

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(Kitco News)The world’s gold production in 2020 amounted to ~3,200 tonnes and was ~3% lower than in 2019 (3,300 tonnes). China was the largest gold mining country in 2020.

According to the preliminary data released by the U.S. Geological Survey (USGS), global output of gold in 2020 was ~3,200 metric tonnes, or ~3% less than in 2019 (3,300 tonnes). The decline in gold production was primarily caused by the pandemic-related suspensions.

Global gold production, 2007 – 2020, tonnes. 2020* preliminary estimates. Source: USGS

China produced ~380 tonnes of gold in 2020, which is in line with 2019, and was the largest gold producing country.

Australia was the second largest gold producing country (320 tonnes), followed by Russia (300 tonnes) and USA (190 tonnes). Canada sits fifth with 170 tonnes of gold produced in 2020.

Nine countries out of the top ten largest gold producers faced a decline in gold output in 2020, while production in China remained unchanged. The top ten countries produced 1,950 tonnes of gold in 2020, a 3% decline over 2019 (2,012 tonnes).

Top 10 gold producing countries, 2020 vs. 2019, tonnes. 2020* preliminary estimates. Source: USGS.

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