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Largest Gold Companies Largest gold companies There are different methods by which 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 (sometimes abbreviated MV-GEO, EVO if the enterprise value is used) 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.[1] If the calculation is to exclude financial assets the enterprise value is used instead of market capitalization.[2] EVO = Enterprise Value/Ounce (gold equivalent) = Enterprise Value divided by resources. The enterprise value is the difference between a company's market capitalization (product of the number of company shares and listed stock price) and its cash, investments less debt (amortization). Three of the 10 largest companies by market cap that engage in gold mining, Fresnillo, Buenaventura and Freeport-McMoran (copper/molybdenum) are not included in the first list because they are minor gold producers/most of their revenue comes from a metal other than gold (Fresnillo and Buenaventura rely more on silver, in some lists silver production is treated as gold production, converted to gold equivalent using the gold to silver price ratio; McMoran produced 32.375 tonnes of gold in 2013 (up 32% after falling by 31% in 2012) but gold accounted for only 8% of revenue (down from 10%).[3][4] World gold production in 2008 declined by 50 tonnes despite a strong showing in market price.[5] Total production cash costs were up 4.1% industrywide in the third quarter of 2010 to US$585 per ounce of gold mined.[6] 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 (18m ounces of gold, 676m ounces of silver) while in Australia mines are being shuttered by companies in an attempt to curb costs.[7][8] In 2016, five of the world's 10 largest producing regions recorded growth in output, they are: China (450 tons +5), Russia (250 +8 tons), USA (209 tons +9), Canada (170 tons +10), Mexico (125 tons +5) and Indonesia (100 tons +25); In 2015 only Australia, Peru, Mexico, Uzbekistan and Indonesia produced more than the year before.[9] 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.[10] In 2013, the world's five leading gold producers, in order of total production were China (420 tons +17), Australia (250 tons +5), US (227 tons -8), Russia (218 tons +2), South Africa (145 tons -15).[10][11] In 2011, all of the world's 14 major producing countries recorded growth in output except for Peru, Indonesia and Brazil (global primary production up 5.5%); list was led by China (355 tons), Australia (270 tons), USA (237 tons), Russia (200 tons), South Africa (190 tons).[12] South Africa's drop in output (down 10% from 2010 to 2012) is not a result of resource depletion but rather high production costs.[13] Contents The Big 10 Canadian companies South Africa Forbes Global 2000 References The Big 10 Cash profit Cost Revenue 2008 2021 2020 FY Total 2013 cap mil USD Reserves 2013 Rank Name Base mil.USD cap cap production Resource bil USD Ytd Dec Moz year Ytd Dec 2020 bil $ bil USD tonnes Moz 2020 US$ total/oz 178.35 23%[1] (http s://www.annu Newmont 11,497 2666 alreports.co 761 1 18.23 16.1[16]Aug.17 50 m/HostedDat 85.0 [17] 142.67 Goldcorp USA 18%[14][15] 7%[14] 2013 a/AnnualRepo rts/PDF/NYS E_NEM_202 0.pdf) 2,324 41%page 12,595 53 (http 45.9[2] 30%%page s://s25.q (https:// 51 (https://s2 4cdn.co www.for 5.q4cdn.com/ m/32281 bes.co 322814910/fil 4910/file Barrick m/comp 134.94 566 2 es/doc_financ 26.90 19.4[19]Aug.17 s/doc_fin 140.2 [21] 226.92 Gold Canada anies/b 15%[20] [18] ial/annual_rep ancial/an arrick-g orts/2020/Barr nual_rep old/?sh ick-Annual-Re orts/202 =3bbf8c port- 0/Barrick ff558e) 2020.pdf)[18] -Annual- Report-2 020.pdf) 8.2 [4] (htt 25.1[3] ps://www.n (https:// ewswire.ca/ www.for news-relea bes.co ses/franco- m/comp nevada-ann Franco- 1,020.2 326.2 113.726 821 3 8.22016[23]Jn.19 anies/fr ounces-rec 204.307 Nevada Canada 21%[22] 5%[22] Jan'16[22] [22] anco-ne ord-annual-r vada/?s esults-and- h=262a dividend-in 134633 crease-859 73) 787595.htm l) 21.8[5] (https:// www.for 78.4 2.6% bes.co [6] (https:// Polyus 4900 m/comp 1646 polyus.co 707 4 9.00 9.7 [25]Mar.12 74.1 [17] 211.92 Gold Russia 25%[24] anies/p 15%[24] m/en/invest [26] olyus/? ors/factshe sh=5c3 et/) 936087 24a) 14.1[7] (https:// 49.23 27% www.for [8] (https://s2 bes.co 1.q4cdn.com/ Agnico m/comp 374334112/fil Eagle 3138.1 6.0 511.6 637 5 6.32016[29]Oct'15 anies/a es/doc_financ 9.976 [27] 15.013 Mines Canada 27%[27] [28] 8%[27] [27] gnico-e ials/annual/20 Limited agle-mi 20/AgnicoEag nes/?sh leAR2020_Ful =46fac7 l-EN.pdf) 6b277b) 6 Newcrest 3922 10.01 7.2 [31]Jun.26 13.8[9] 750 61.55 77.0 [34] 205.45 A$750 Mining Australia 5%page 21 (h (https:// 34%page 12.7%[10] (htt Newcrest [30] ttps://www.ne www.for 21 (http ps://www.new 119.2 wcrest.com/si bes.co s://www. crest.com/sit Lihir 86.234 tes/default/file m/comp newcres es/default/file s/2020-10/201 anies/n t.com/sit s/2020-10/20 005_Newcres ewcrest es/defaul 1005_Newcre t%20Annual% -minin t/files/20 st%20Annua 20Report_0.p g/?sh=1 20-10/20 l%20Report_ df)[30] 54a581 1005_Ne 0.pdf) 61c58) wcrest% 59.82 20Annua 2013[30] l%20Rep 58.77 (2012) ort_0.pdf) 77.44 (2011) NC 50[32] Lihr 25[33] 63.40 2% 9/18[11] [12] (https://w (https:// ww.goldfields. www.gol com/reports/q dfields. 4-2021/index. Gold $3,892 31% com/in-t 723 php#:~:text= 803 7 7.51 [36] Gold%20Field [17] 270.28 Fields South [35] 5.85 Aug.2 he-new 300%[35] 78.9 [37] Africa s-articl s%20recorde e.php?a d%20no%20L rticleID evel,range%2 =9148) 0of%202%2C 200%2D2%2 C250koz.) 67.10 5.6% [14] (http s://www.kin ross.com/n ews-and-in vestors/ne 8.3[13] ws-release (https:// s/press-rele www.for $783.3 ase-details/ 92.06 bes.co [38] 2021/Kinro 50% Kinross Kinross 4,213.4 m/comp (3742.3) ss-reports- 743 8 11.14 6.1 [39]Aug.1 59.17 74.8 Gold Canada [38] anies/ki ('13) 2020-fourth [40] 20% Red Back nross-g -quarter-an (2509.7) 17.26 old/?sh ('12) d-full-year-r =1a7f0e esults/defa 017263) ult.aspx)[40] 74.2 (2012)[41] Kinross 65.14, RB 11.40 ('10)[42] 946 144%[16] (https://w ww.morni ngstar.co 86.4 7% 8.57[15] m/news/ [17] (https://w (https:// dow-jone ww.kitco.com/ compan s/202102 news/2021-0 iesmark 22508/an 2-09/AngloGo AngloGold 4427 etcap.c glogold-a 9 11.61 6.0 [44]May.28 ld-Ashanti-rep 74.9 [17] 264.30 830 Ashanti South [43] om/angl shanti-20 25.6% orts-7-produc Africa ogold-a 20-profit- tion-drop-in-2 shanti/ soars-se 020-earnings- marketc es-5-prod to-grow-by-u ap/) uction-gr p-to-174.html) owth-thro ugh-to-20 25) (2,200) '13loss[43] 25.55 [19] (https://www. 5.5[18] globenewswir (https:// e.com/news-r oracledi elease/2021/0 spatch. 1/25/216384 com/20 8/0/en/Yaman Yamana 1562 20/06/1 203.6 a-Gold-Annou 596 10 7.2 [46]Aug.5 19.4 [17] 46.35 Gold Canada 31.7%[45]|6.09 2/yama 9.7%[45] nces-Prelimin [45] na-gold- ary-2020-Fou inc-nys rth-Quarter-a eauy-is- nd-Full-Year- holding- Production-Fi steady/) nancial-and-C orporate-Res ults.html) these previous top companies succumbed to M&A Cash Revenue 2013 profit Cost 2008 2014 FY Total mil.USD cap 2021 cap mil USD Reserves 2014 new Name Base cap production Resource Ytd Dec bil bil USD Ytd Dec Moz year bil $ tonnes Moz 2014 USD 2014 US$ total/oz 1123.912 Eldorado 5.36 (641.615) 20.45 494 NA 3.03 NA 18.61 [48] 20.2 Gold Canada [36]Aug.2 [47] 10%[47] [47] 2.0%[47] 10.0[20] (https://financia lpost.com/commodities/ mining/newmont-shareh olders-ok-10-bln-goldcor (2709) 54.38 4687 23.0 p-takeover-creating-bigg loss[49] 75.60 dec'13[52] 687 NA Goldcorp 21.63 81.59 Canada 20.9%[49] [50]Jn.19 est-gold-producer#:~:tex 1749 10%[51] 60.1 [49] t=transferred%20sout (2012) feb'11[53] h%20of%20the%20bord er,of%20roughly%20U S%2429%20billion.) Sources and other information since July 1, 2019, the acquired Newmont mines contributed revenue of $1,184 million and net income of $322 million for the year ended December 31, 2019.
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