Largest gold companies
There are different methods by which :Category:Gold mining companies|gold mining companies are ranked. One is by their annual production. Another is by their cash cost per ounce, that is, how much money it costs them to mine the gold. Since gold prices are the same everywhere, companies with lower costs per ounce make more profit. The most common method lists by market capitalization which considers the total value of capital holdings by that company. Also considered when comparing companies is their market capitalization per ounce of gold equivalent which takes the market value and total reserves and resources for each company as well as the price of gold into consideration. The figures for each company can be used to determine the value the stock market gives to each company's reserves on an ounce to ounce basis.
If the calculation is to exclude financial assets the enterprise value is used instead of market capitalization.
EVO = Enterprise Value/Ounce = Enterprise Value divided by resources. The enterprise value is the difference between a company's market capitalization and its cash, investments less debt. Three of the 10 largest companies by market cap that engage in gold mining, Fresnillo, Buenaventura and Freeport-McMoran are not included in the first list because they are minor gold producers/most of their revenue comes from a metal other than gold but gold accounted for only 8% of revenue.
World gold production in 2008 declined by 50 tonnes despite a strong showing in market price. Total production cash costs were up 4.1% industrywide in the third quarter of 2010 to US$585 per ounce of gold mined. The lower price of gold in 2013 is expected to impact gold production in the coming years; Barrick Gold is slowing construction at one of its largest gold projects Pascua Lama while in Australia mines are being shuttered by companies in an attempt to curb costs.
In 2016, five of the world's 10 largest producing regions recorded growth in output, they are: China, Russia, USA, Canada, Mexico and Indonesia ; In 2015 only Australia, Peru, Mexico, Uzbekistan and Indonesia produced more than the year before.
In 2013, nine of the world's 14 major producing regions recorded growth in output, they are: Australia, Brazil, Canada, Chile, China, Indonesia, Mexico, Papua New Guinea and Russia; In 2012 only Canada, China, Ghana, Mexico, Peru and Russia produced more than the year before. In 2013, the world's five leading gold producers, in order of total production were China, Australia, US, Russia, South Africa. In 2011, all of the world's 14 major producing countries recorded growth in output except for Peru, Indonesia and Brazil ; list was led by China, Australia, USA, Russia, South Africa. South Africa's drop in output is not a result of resource depletion but rather high production costs.
The Big 10
more recent additions - companies that have grown considerably in size since 2015| new | Name | Base | Revenue mil.USD Ytd Dec 2014 | 2008 cap bil $ | 2016 cap bil USD | profit mil USD Ytd Dec 2014 | 2014 FY production tonnes | Reserves Moz | Total Resource Moz | Cash Cost 2014 year US$ total/oz |
| Franco-Nevada | 442.4 10.4% | 8.2 Jn.19 | 106.7 | 8.315% | 113.726 Jan'16 | 204.307 | 821 | |||
| Agnico Eagle Mines Limited | 1896.8 15.8% | 6.0 | 6.3Oct'15 | 83.0 loss'13 | 40.530% | 9.976 | 15.013 | 637 |
Sources and other information
- 2008 ranking
- total resource
- 1 tonne = 1000 kg = 2204.6 lbs = 35,273.9619 ounces; 1 ton = 2000 lbs = 32,000 ounces
- Newcrest Mining started including Lihir Gold assets in mid-2010.
- Metrics such as cash costs, revenue for years prior to 2011 were changed due to the transition in accounting standards from Generally Accepted Accounting Principles to International Financial Reporting Standards.
- For 2012 Barrick Gold's overall losses can be attributed to a $4 billion writedown on copper assets incurred during the final quarter.
- Gold Fields production down due to unbundling of certain assets in South Africa into a newly created company called Sibanye Gold.
- 3 of the companies took on major writedowns on their assets in the last quarter of 2011 and that affected their annual profits.
- Newmont operates Australia's two biggest gold mines, Boddington and Kalgoorlie.
- On July 25, 2011 Polyus Gold and KazakhGold merged.
- In 2013 Goldcorp, Newmont, Newcrest, Kinross, AngloGold, and Eldorado produced more gold than the previous year. In 2012 it was Yamana, Kinross, and Polyus Gold that produced more. In 2011 it was Newmont, Newcrest, Kinross and Eldorado.
- November 8, 2012 - Goldcorp overtakes Barrick Gold in market value.
Canadian companies
60% of the country's gold output come from six mines, they are Red Lake 493,000 oz, Malartic 475,277 oz, Meadowbank 430,613 oz, Porcupine 291,900 oz, Musselwhite 256,300 oz, Detour Lake 232,287 oz.
In 2018 the Canadian embassy in Athens, Greece was attacked with sledgehammers and red paint by an anarchist group opposed to the embassy’s support for Eldorado Gold Corp.’s mining plans in Greece.
As of September 2009, there were 20 companies in the country with a market cap of 1 billion dollars or more.
Barrick Gold Corp. is the country's largest gold mining company by several measures of size. After growing 3.35% on the year, on November 8, 2012 Goldcorp leapfrogs Barrick Gold in capitalization - Barrick lost 25% of its market value that year.
In the following table are Canada's 10 highest valued gold mining companies for 2010 as well as 6 other mid cap companies.
| Large Cap | 2010 cap | Mid Cap | 2010 cap | other Mid Cap | other |
| Barrick Gold | $40 billion January | Yamana Gold | $8.17 billion May | Franco-Nevada | European Goldfields |
| Goldcorp | IAMGOLD | $6.87 billion May | New Gold | - | |
| Kinross Gold | $19.0 billion Sept | Red Back Mining | $5.80 billion May | AuRico Gold | - |
| Agnico-Eagle Mines | $11.4 billion October | Osisko Mining | $5.2 billion July 31 | Detour Gold | - |
| Eldorado Gold | $10.2 billion October | Centerra Gold | $3.03-4.776 billion | NovaGold Resources | - |
- Notes - Kinross Gold was 13.50 billion in May before it acquired Red Back Mining. Osisko Mining was $10 million in 2005 and $3.5 billion May 2010.
South Africa
Notable South African gold companies include:
- AngloGold Ashanti - world's 3rd biggest gold producer at 3.944 million ounces in 2012. AngloGold is also South Africa's largest producer of uranium, a position that was strengthened in July 2011 when it acquired 20% of Canada's First Uranium.
- Gold Fields - produced 2.2 million ounces of gold in 2013, down from 3.254 million ounces on the year ended June 30, 2012; 2011 production roughly the same as 2010. Its largest new mine has the potential to produce at a rate of 1 million ounces annually. It is South Africa's second leading producer. During 2013 the company spun off some of its assets into a new company called Sibanye Gold.
- Harmony Gold - was the 5th largest producer of gold in 2008 in 2008 compared to 1.56 million
Forbes Global 2000
It ranks them based on a number of factors, the top companies on its list aren't necessarily the biggest. Data reflects the 12-month period ending March 2016 for companies based in the United States, Canada and Bermuda. For all other countries, data is for the last fiscal year period.
| May 2016 Cum. Rank | Name | Rank 2013 | Rank 2014 | Rank 2015 | Rank 2016 | Base | 2016 rev | 2016 Profit | Assets 2016 | Market cap April |
| 1 | Freeport-McMoRan | 273 | 224 | 659 | 740 | 16.2 | 46.6 | 14,600 | ||
| 2 | Barrick Gold | 659 | 771 | 895 | 913 | 9.1 | 26.3 | 18,800 | ||
| 3 | Newmont Goldcorp | 448 | 1033 | 891 | 977 | 7.8 | 89 | 24.6 | 16,600 | |
| 4 | Goldcorp | 559 | 1160 | 1268 | 1290 | 4.4 | 21.4 | 14,200 | ||
| 5 | Newcrest Mining | na | na | na | 1607 | 3.4 | 3,440 | 11.3 | 10,600 |
Source: