Russia Overtakes US In Gold Production

May 9th, 2014 by

According to data compiled by Metals Focus, global gold mine production increased by 5% in 2013. Russia increased production by a whopping 8% last year, 620,000 ounces, to overtake the United States as the world’s #3 gold producer. U.S. gold production slipped 2%, but even had it remained at 2012 levels, Russia would still have taken away the #3 spot.

China of course is still the biggest gold producer in the world, while at the same time being the world’s biggest gold consumer. None of the over 14 million ounces of gold produced in China last year was exported. South Africa took the #5 spot from Peru, as Peru’s production slipped 3%.

Global Gold Production 2012 - 2013

RankCountry2012 Output (Moz)2013 Output (Moz)Change YoY
1China13.2914.16%
2Australia8.18.535%
3Russian Fed7.377.998%
4USA7.547.42-2%
5South Africa5.785.841%
6Peru5.945.77-3%
7Canada3.364.0119%
8Mexico3.343.340%
9Ghana3.173.273%
10Indonesia2.843.099%
Global92.4596.735%