Combined output topped 30 million ounces in 2015
In 2015, preliminary estimated gold production by the top publicly-traded and non state-owned gold mining companies amounted to 30.78 Moz, a 1% increase compared to 2014 totals (30.39 Moz).
Five out of the 10 miners suffered a decline in their attributable gold output while another five of them achieved growth. With 6.12 Moz of gold produced in 2015, Canada’s Barrick Gold Corp. (TSE:ABX) holds first place in global ranking, well ahead of its competitors.
Compared to 2014’s 6.25 Moz, Barrick’s gold output declined by 2%, mainly because of significant drop in output at its South America’s Pueblo Viejo (-14%), Lagunas Norte (-4%) and Veladero (-17%) operations, which was mostly offset with strong results at Barrick’s mines in the United States. Barrick was managed to reduce its all-in sustaining costs* (AISC) by 4%, from $864 in 2014 to $831 in 2015.
The US-based Newmont Mining Corporation (NYSE:NEM) ranks second in the global gold competition and produced 5.04 Moz of the precious metal in 2015, 4% more than in 2014 (4.85 Moz). This growth was mainly due to a nearly nine-fold increase of Newmont’s attributable gold output at Batu Hijau mine (Indonesia), from 37 Koz in 2014 to 328 Koz in 2015. Newmont reduced AISC by 10%, from $1,002 in 2014 to $898 in 2015. According to some forecasts, Newmont could overtake Barrick as top gold miner in 2016.
Third-ranked AngloGold Ashanti Limited (NYSE:AU), reported 11% decrease in annual production, from 4.44 Moz of gold in 2014 to 3.95 Moz in 2015. Despite a decline in production, AngloGold reduced AISC by 11%, from $1,020 in 2014 to $910 in 2015.
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