Global gold mine production increased steadily from 2010 to 2023, marking a 29% overall rise despite temporary setbacks in 2019 and 2020

Key Takeaways:

  • Global gold production rose from 2,830.80 tonnes in 2010 to 3,646.07 tonnes in 2023.
  • The most significant year-over-year growth occurred between 2012 and 2013, with an increase of over 178 tonnes.
  • A temporary decline in production was recorded in 2019 and 2020, reflecting pandemic-related disruptions.
  • Production recovered quickly post-pandemic, reaching a record 3,646.07 tonnes by 2023.
  • Over the last fourteen years, gold mine output grew at an average annual rate of approximately 2%.
  • Growth from 2021 to 2023 was more moderate compared to earlier years.

The global gold mining sector has shown steady and resilient production growth over the past fourteen years. From 2010 to 2018, the industry experienced consistent year-on-year gains, adding about 826 tonnes of new production.

This upward trend was briefly disrupted in 2019 and 2020 when production dropped to 3,598.61 tonnes and 3,483.53 tonnes, largely due to the COVID-19 pandemic. However, the industry recovered strongly, achieving new production highs by 2023.

Source:

Metals Focus; World Gold Council

Period:

2010-2023
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  • The Commonwealth of Independent States (CIS) produced 570.90 tonnes, making up 15.7% of the global total.
  • North America and Central & South America contributed 485.17 tonnes and 542.13 tonnes, respectively.
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