The Global Gold Mining Industry

While a large percentage of gold mined around the world is used to make items of great value – notably jewelry, collectible currency, and similar possession – you may be surprised to know this precious metal is also valued in the construction of various household objects like televisions and computers. This is because gold, like other metals, is a good conductor of electricity. You may not compare a working refrigerator with an expensive wedding band, but gold can be used in both.

  • No matter the time, gold remains a good investment. According to the Motley Fool, one ounce of gold was priced at close to nine hundred dollars in 2008, three times the value of one share of Google stock.
  • In South Africa, there are mines that go as deep as twelve thousand feet, topping off well over a hundred degrees Fahrenheit.
  • Most items that people may believe are pure gold, like certain coins and Olympic gold medals, are actually gold-plated.
  • Gold is a very versatile element. It can be made into thread for fabric or used to design chocolate.
  • The largest gold mine in the world, according to International Business Times, is the Grasberg Gold Mine in Papua, which has produced over two million ounces.

Top Producers of Gold

You are likely to find gold on every continent in the world. In some parts of the United States, like Nevada and Georgia, there are mines where visitors can pan for nuggets as prospectors did in the 1800s. When it comes to producing and exporting product, the United States Geological Survey lists the following as the top countries:

  • China – in 2011, China produced overall over 350,000 kilograms of gold. The Zijin Mining Group Ltd is presently the country’s leader in precious metal mining.