Global Gold Production to Reach 3,300 Tonnes in 2024, with China and Russia Leading the Way
According to the U.S. Geological Survey's report, mcs2025-gold.pdf, prepared by Kristin N. Sheaffer, global gold production is estimated to reach 3,300 tonnes in 2024, marking a slight increase from 3,250 tonnes in 2023. Notably, the estimated price of gold in 2024 has reached a new annual record, with a 23% increase compared to 2023.
The report highlights the global leaders in this industry. China, Russia, Australia, Canada, and the United States position themselves as the top five gold-producing countries for 2024, collectively contributing to 41% of the estimated global production. The detailed ranking of gold production for 2024 is as follows:
- China: 380 tonnes
- Russia: 310 tonnes
- Australia: 290 tonnes
- Canada: 200 tonnes
- United States: 160 tonnes
- Ghana: 130 tonnes
- Kazakhstan: 130 tonnes
- Mexico: 130 tonnes
- Uzbekistan: 120 tonnes
- South Africa: 100 tonnes (tied with Indonesia and Peru)
It is particularly noteworthy that the African continent confirms its essential position in this strategic industry. Ghana stands out by ranking among the top 10 global producers, with an estimated 130 tonnes, positioning it alongside nations like Kazakhstan and Mexico, and affirming its heavyweight role on the international gold scene. Furthermore, South Africa, a historically gold-rich country, maintains its presence in this elite ranking with 100 tonnes produced in 2024, sharing the 10th position. The strong presence of these two African countries in the top 10 testifies to the vitality and growing importance of mining operations in Africa for global gold supply, substantially contributing to production dynamics and international markets. The domestic American production has also been significant, with an estimated 160 tonnes in 2024.
