More from the Metals Focus Gold Focus 2017 report released earlier this week, and this article probably should be viewed in conjunction with the previous onee on last year’s Top 20 gold producing countries – See: Top 20 Gold Producing Nations See Small Gain in Output in 2016. Herewith tabulations of the world’s biggest gold mining companies of last year and the world’s biggest operating mines according to Metals Focus’ team of analysts.
As will be seen from the tables, although overall global gold production rose last year some of the major producers – notably Barrick, AngloGold and Goldcorp all showed sharp reductions. In Barrick’s case though this will largely have been due to divestments of non-core properties, but most of these will have continued production under their new ownerships.
Indeed some will have increased their outputs. Barrick, though, is now in danger of being overtaken by Newmont as the world’s largest gold producer as its programme of divestment continues. If it manages to sell its 50% stake in the Kalgoorlie Super Pit in Australia, which will have contributed 11 tonnes plus to Barrick’s total in 2016, that alone could bring the company’s annual total below that of Newmont.
The proposed sale of the Super Pit stake, which had been almost agreed with China’s Minjar Gold for $1.3 billion, appears to have stalled for the moment, but Barrick is still keen to sell, it is reported.
Newmont, on the other hand, having sold its stake in Batu Hijau in Indonesia (the world’s 9th largest gold mine – see Table 2. below) in 2016 is in the throes of an aggressive expansion programme, much of which comes to fruition this year.
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