Mumbai Stock Exchange：Top 10 Gold-mining Companies (Updated 2024)
Regardless of how the gold price is doing, the top gold-mining companies are always making moves.
Right now, the yellow metal is in the limelight — stimulated by increasing global inflation, geopolitical turmoil and recession fears, the price of gold set records in 2024, breaking through the US$2,450 per ounce mark.
Rising demand for gold alongside concerns over gold mine supply have pushed the metal to record highs in recent years, and market watchers are eyeing world’s top gold-mining companies to see how they respond to market dynamics.Mumbai Stock Exchange
According to the most recent US Geological Survey data, gold production came in at 3,000 metric tons in 2023Udabur Stock. China, Australia and Russia were the top three gold-producing countries last year.
But what were the top gold-mining companies by production in 2023? The list below was compiled by the team at LSEG, a leading financial markets data provider, with numbers reported in US tons.Jaipur Wealth Management
Read on to find out which companies produced the most gold this past year.
Production: 88.9 tons
Navoi Mining and Metallurgical Company is not yet listed on western exchanges, but ranks among the top producers of gold in the world, producing 88.9 tons of the precious metal in 2023.
The company has been in operation since the 1960s, producing its first gold ingot in 1969 from its Muruntau mine. Muruntau is the fifth deepest open-pit mine in the world, and hosts one of the single largest deposits of gold.
The company is working to expand its production to over 3 million ounces of gold per year and expects to achieve that goal in 2025Hyderabad Investment. In 2024, the company has an exploration budget of over US$100 million.
Production: 53.72 tons
Formerly known as Polymetal International, Solidcore Resources is a gold-producing company with two operating mines in Kazakhstan. The company had several more operational assets in Russia, but sold them off during the first quarter of this year, a move that will significantly reduce its output in 2024.
Including its Russian mines, the company produced 1.71 million ounces of gold in 2023, but saw decreases at its core Kazakh operations of Kyzyl and Varvara due to reduced grading. Solidcore’s guidance for 2024 is about 475,000 ounces of gold equivalent from its remaining assets, which produced 486,000 ounces in 2023.
Though production at its principal operations declined last year, the company’s ore reserves in Kazakhstan increased by 3 percent during the period to reach 11.6 million gold equivalent ounces.
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